Online Banking Authentication and Fraud Detection: A Vendor Comparison

Report Summary

Online Banking Authentication and Fraud Detection: A Vendor Comparison

By 2010, spending by U.S. banks on software solutions for online authentication, fraud detection and anti-phishing will increase to US$88 million, up from US$22 million in 2006.

Gwenn Bézard
Co-Founder and Research Director

Boston, MA, June 30, 2006 – In a new report, Online Banking Authentication and Fraud Detection: A Vendor Comparison, Aite Group compares and profiles thirteen leading vendors of online authentication and fraud detection solutions, including Actimize, Business Signatures, Corillian, Cydelity, Digital Resolve, Entrust, Fair Isaac, Green Armor, RSA Security, StrikeForce, The 41st Parameter, Tricipher, and VASCO. The report is based on interviews with 65 individuals, including 28 product managers, business development and marketing managers and senior executives at vendors and 37 decision makers at U.S. banks and resellers conducted in Q1 and Q2 2006.

"The move to enhanced online security is arriving at a time when senior management at major banks are turning to online banking as a source of growth for the top and bottom-line of their income statements" comments Gwenn Bézard, a Research Director with Aite Group and the author of the report. "As a result, the heads of e-business and their IT support teams are under tremendous pressure to pick the right vendors and solutions to avoid disrupting adoption and usage by the customers".

The report highlights twelve categories where selected vendors excel. The following categories are:

• Best Device ID-based Fraud Detection;
• Best Enterprise Fraud Management;
• Best Evolutionary Authentication Platform;
• Best Fraud Network;
• Best In-Session Fraud Detection;
• Best Multichannel Solution;
• Best Out-of-Band Authentication Platform;
• Best Site Authentication;
• Best Value for FFIEC Compliance For Corillian Online Banking Customers;
• Least Intrusive Solutions; and
• Most New Account Opening Focused.

Other vendors mentioned in the report: Andera, CAC Japan, Certegy, CheckFree, Checkpoint, Cisco, Citrix, Covelight, Dell, Digital Envoy, Digital Insight, EDS, F5, Fircosoft, Fiserv, Gemalto, Hewlett-Packard, IBM, ICT, Jack Henry & Associates, Juniper, MaxMind, Metavante, Microsoft, Nortel, Online Resources, Oracle, P&H, Quova, S1, and Verisign.

This is a 45-page Impact Report. Clients of Aite Group's Fraud & AML service can download the report.

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