Online authentication firm PassMark Security and IP specialist Quova have joined up to develop an advanced security product to protect financial institutions from fraud, phishing and identity attacks.
According to PassMark, its Risk Manager is able to rate the risk of a transaction even before the login process is started. The software then identifies good and bad logins, while automating the processing of uncertain login attempts.
At this point Quova’s GeoPoint will come into play. GeoPoint is able to match IP addresses to physical locations in real time, even through IP masking utilities. By comparing a customer’s location at login with their account profile, the companies say potentially fraudulent activity can be identified and prevented.