SNS REAAL Goes Live With RiskShield for Online and Mobile Banking Fraud
Detection and Prevention
AACHEN, GERMANY and BOSTON, MA -- (Marketwired) -- 12/11/13 --
INFORM GmbH, a global company specializing in software that uses
intelligent process optimization logic to improve business
productivity, announces that RiskShield fraud prevention and
detection solution has been selected and successfully implemented by
Dutch bank and insurance group SNS REAAL, to provide real-time fraud
detection for its 3 banking brand labels; SNS Bank, ASN Bank and
RegioBank. As part of SNS REAAL's financial crime risk strategy,
RiskShield monitors all financial transactions, online banking
sessions, and web anomalies to protect their banking activities and
online channel services.
Due to increasing complexity of cyber-crime attacks at Internet
Banking services and online merchants, SNS REAAL took a strategic,
pro-active IT approach to enhance their fraud prevention technology
by using RiskShield to combat the ever changing modus operandi of
fraudsters. SNS REAAL needed a solution that monitors customer
behavior within its direct channels, such as Internet, mobile
banking, iDEAL payments (online merchant payments), ATMs or any
customer requests received online or through its shops (address
changes, credit limits, new passwords request, etc.). After an
extensive evaluation of several fraud detection solutions, RiskShield
proved the only solution to deliver on all SNS REAAL's requirements
including performance, flexibility and a talented and experienced
"RiskShield is setting the standard of fraud detection," says Frits
Hogewoning, Information Manager at SNS Bank. "We are extremely
impressed with INFORM's technology, their response time; the quality
of INFORM's service and the company's culture. We didn't want to
experiment with any new technology, but rather choose a proven
technology that could deliver on all of our needs."
SNS REAAL is achieving a significant cost savings by eliminating
traditional anti-fraud solutions and using RiskShield to monitor all
domestic and international transactions for three banking brand
labels; SNS Bank, ASN Bank and RegioBank, which manages millions of
transactions per month.
"RiskShield's combination of monitoring technologies helps us to
differentiate customer behavior from malware and infected browsers,
like man-in-the-browser and man-in-the-middle attacks," says Marinus
Bier, Architect at SNS Bank. "RiskShield's performance is
exceptionally high and the software runs seamlessly within in our IT
environment. We can now connect the dots and link customer profiles,
financial transactions, login and session activities to detect any
suspicious behavior in real-time."
"We are delighted to be developing such a close partnership with SNS
REAAL and pleased we are exceeding their expectations," says Dr.
Andreas Meyer, Director Risk & Fraud Division at INFORM. "By creating
a 360-degree view of their customer's characteristics and online
behaviors and by monitoring their dynamic profiles and web anomaly
activities, we are pleased that we have been able to provide SNS
REAAL powerful and meaningful benefits."
About SNS REAAL
SNS REAAL NV is an innovative service provider in the banking and
insurance sector with a prime focus on the Dutch retail market and on
small and medium-sized enterprises. Its activities cover: savings,
investments, mortgages, insurance and pensions. From its historical
background, SNS REAAL NV has always felt close to Dutch society. With
a balance sheet total of more than EUR 133 billion (end of 2012), SNS
REAAL is one of the major bancassurance companies in the Netherlands.
The company has a staff of nearly 6,700 (FTE) and is headquartered in
Utrecht, the Netherlands. Since 1 February 2013, the Dutch State has
become the sole shareholder of SNS REAAL.
About INFORM GmbH
INFORM develops and markets software systems to optimize business
processes on the basis of operations research and fuzzy logic. Using
these two technologies, INFORM is able to develop software systems
that "think" and can make intelligent decisions. The benefits for
users are better on-time delivery performance, lower costs and
significant competitive advantage.
More than 1000 companies worldwide benefit from advanced optimization
software systems by INFORM in industries such as transport logistics,
airport resource management, production planning, payment & card
fraud management and insurance claim optimization. INFORM employs
over 500 staff from more than 30 countries.
Pascalstr. 23, 52076 Aachen
Phone: ++49 (0) 2408-9456-5000
Media and PR Contact:
Ripple Effect Communications
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