As part of the deal, Guardian Analytics FraudMAP Version 4 will protect the NEFCU online banking channel against fraudster attacks. FraudMAP is set to identify NEFCU member accounts which are suspected as highly fraudulent before money is transferred.
FraudMAP Version 4 is a behavioural analytics-based service which offers financial institutions of all sizes online fraud protection by detecting anomalous behaviour and high-risk transactions. FraudMAP Version 4 also provides a Software-as-a-Service (SaaS) delivery model and a turnkey deployment methodology.
In a recent development, Guardian Analytics has raised USD 11 million in Series D funding from venture capital firm Split Rock Partners to add risk analytics and fraud detection services for financial institutions to its product lines.
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