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BizReport : Law & Regulation : September 13, 2006

New Solution Detects Online Fraud in Real-time

A leading company in online fraud and identity theft solutions has announced the launch of FraudProbe 2.0, a solution designed to detect fraud in real-time.

by William White

Coverlight Systems said the product is the first to be based on their new Capture, Transform and Feed (CTF) architecture. CFT provides web-channel data at wire speed to backend analytic engines for a variety of enterprises.

They revealed that the CTF architecture was developed in conjunction with one of the world’s largest financial institutions, to ensure that it meets regulatory requirements and delivers the performance needed in high-volume environments.

CTF can be deployed in a variety of enterprise applications. These include online fraud management and online business analytics.

Coverlight Systems believe the introduction of FraudProbe 2.0 means that customers now have a solution that does not require extensive integration with their applications. Chief Executive Officer Spencer Snedecor said “CTF solves a real-world problem and the new FraudProbe 2.0 solution has already been successfully deployed in what is arguably one of the world’s most demanding environments.”

According to Coverlight Systems, their FraudProbe is the only online fraud monitoring solution designed to deliver comprehensive fraud data to any fraud management system that does not require integration with the application.

Tags: Coverlight Systems, fraud

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