Cost Effective Fraud Detection Solution Utilizes Big Data to Expose Malware Attacks in Real Time
Intellinx Ltd.,the innovative leader in enterprise fraud management announced the integration of the Intellinx Fraud Management Platform with the Hadoop framework to deliver cost effective real time enterprise-wide fraud prevention. Currently deployed at a Tier-1 bank in North America, the Intellinx cybersecurity solution utilizes contextual data by profiling both applications and users to identify more sophisticated types of attacks, such as DDOS (distributed denial-of-service), with increased accuracy.
Intellinx’s support for the Hadoop platform enables cost-effective processing of very large volumes in a distributed computing environment, enabling analysis at a very granular level, yielding more insights to detect fraud. In addition, by reducing the need for conventional SQL databases, Intellinx 5.1 customers can cut their software licensing costs significantly. The February 18 2014 Gartner report, “How Enterprises Can Avoid Top Cyberthreats in 2014” by Avivah Litan, recommends that enterprises: ”Use big data analytics of transactions, security events and contextual information to gain faster and smarter correlation of security incidents so they can be rapidly prioritized. ”
Intellinx 5.1 prevents future fraud attacks by gaining a better understanding of emerging threats. Based on non-invasive network recording, Intellinx 5.1 creates profiles for online users, and correlates them with offline data (such as call-center data, ATM activity, employee actions), resulting in more precise detection of fraud attempts. Applications are also monitored in order to create a baseline of normal behavior which is then compared with new activity, to detect malware attacks such as man-in-the-browser in real-time. The combination of application profiling and user profiling in the same solution provides a more holistic approach for fraud detection
“Threats are more erratic and sophisticated, and many fraudsters today know how to evade detection,” said Orna Mintz-Dov, CEO of Intellinx. “By making it cost-effective to analyze data from many different sources on a massive scale in real time, while combining application and user profiling, we are providing enterprises with the ability to uncover both known and new fraud schemes.”