DCU Selects Guardian Analytics to Prevent Online Fraud and Identity Theft

LOS ALTOS, Calif., June 24 /PRNewswire/ -- Guardian Analytics, a provider of online account fraud prevention software for financial services institutions, announced today that DCU (Digital Federal Credit Union) of Marlborough, Mass. has selected FraudMAP(TM) to be an integral part of the financial institution's fraud prevention strategy. By deploying FraudMAP, the 350,000-member credit union expects to deliver detailed, accurate fraud alerts to its internal fraud operations team in order to prevent online fraud attempts, as well as improve its ability to prevent multi-channel fraud schemes that involve online account compromises.

The largest credit union in New England, DCU ranks among the 15 largest credit unions in the U.S. and has been the fastest growing credit union in the country over the past decade. Historically, DCU has been an innovation leader among financial institutions for its online service offerings. In 1995, DCU became the third credit union in the U.S. to have a website, and by 2002, 54 percent of DCU's members were already active users of its online banking service. By implementing FraudMAP, DCU will ensure its extensive base of online users is protected from never-ending threats posed by fraudsters.

"DCU always looks for the best ways to protect our popular online channel and most importantly our members," said Craig Roy, vice president of support services. "Guardian Analytics' FraudMAP is a best-in-class solution that fits right into our existing processes and Digital Insight online banking infrastructure. FraudMAP is also transparent to our members and will not impact their online experience."

The FraudMAP implementation will reduce the volume of alerts and false positives experienced with prior approaches, and will also expedite investigations. Additionally, DCU will rely on FraudMAP to detect multi-channel fraud schemes in which the fraudster uses a compromised account to gather information that enables a fraudulent transaction via a different channel, such as check fraud. The lack of suspicious online transactions makes it difficult for financial institutions or its customers to identify and understand the impact that these compromises have on overall fraud. FraudMAP's Dynamic Account Modeling(TM) automatically and reliably detects when any online activity is inconsistent with expectations for that member account. Thus, breaches are detected before the information can be stolen and used maliciously in other channels.

"DCU recognizes the evolving threat to the online channel and has repeatedly demonstrated its commitment to staying ahead of the fraudsters," said Tom Miltonberger, president and CEO, Guardian Analytics. "By entrusting online account security to Guardian Analytics, every DCU member can be sure that the credit union is taking the best possible steps to protect their assets and personal information."

About DCU

Headquartered in Marlborough, Mass., DCU (Digital Federal Credit Union) is a full-service, not-for-profit financial institution cooperatively owned by and operated for its members. DCU was chartered in October of 1979. Since then, it has been chosen as the credit union for employees and members of more than 700 companies and organizations. DCU has more than $4 billion in assets and serves more than 350,000 members in all 50 states. DCU has full-service branch offices in Massachusetts, New Hampshire, Georgia and Colorado. For more information, please visit https://www.dcu.org.

About Guardian Analytics

Headquartered in Los Altos, Calif., Guardian Analytics is focused on the prevention of online account fraud. The company's real-time risk management approach to fraud detection, forensics and risk monitoring is built on strong analytics and predictive models of individual behavior. Leading financial services institutions rely on Guardian Analytics to protect individual account assets and the integrity of their online channels. Founded in 2005, Guardian Analytics is privately held with venture funding from Foundation Capital. For more information, please visit http://www.guardiananalytics.com.

SOURCE Guardian Analytics

CONTACT: media, Shannon Walsh of the Bateman Group, +1-415-503-1818, ext. 27, [email protected], for Guardian Analytics