Fiserv Debuts Real-Time Cybersecurity For Finance

Fiserv, the global provider of financial services technology solutions, announced May 23 the availability of SecureNowTM, a centralized, real-time cybersecurity platform designed specifically for digital financial services.

In a press release, Fiserv said SecureNow integrates a bunch of cybersecurity protections to enable financial institutions to combat fast-moving threats and detect fraud in real time, all the while maintaining a positive experience for legitimate users.

According to the company, SecureNow combines authentication defenses from Fiserv with capabilities from providers, including iovation, Guardian Analytics, Neustar and LexisNexis. These capabilities include multi-factor and device-based authentication, along with behavioral analytics. SecureNow works across online, mobile and tablet channels, Fiserv noted.

“SecureNow delivers real-time protection against rapidly evolving threats, offering a high level of security protection while maintaining the seamless user experience that digital banking users demand,” said Kevin Schultz, group president, Digital Banking, Fiserv, in the press release. “Combatting cybersecurity threats requires a multi-faceted approach. With SecureNow, financial institutions have a range of tools at the ready.”

According to the company, SecureNow detects and warns financial institutions of suspicious behavior, devices, locations and criminal evasion techniques prior to and post-login, ensuring users are protected throughout their digital banking. It also comes equipped with cyber analytics and data profiling detection at sign-in when a login comes from an unknown or unlikely location, or one with a history of confirmed fraud. That, in turn, prompts additional authentication or more defensive mechanisms, Fiserv said. Once a user is logged in, real-time behavioral analysis is used to recognize and flag account transactions that are suspicious.

“Preventing and mitigating cybersecurity threats is complex, and a lack of integration between solutions compounds this complexity,” said Al Pascual, senior vice president, research director and head of Fraud and Security, Javelin Strategy & Research, in the same press release. “Aligning cybersecurity protections can help address this complexity and allow financial institutions to streamline overall security management.”