By: Banking CIO Outlook | Monday, August 17, 2020
The rise in online retail banking fraud can be attributed to the vulnerability of users’ endpoints devices, including laptops, home PCs, and mobile phones
FREMONT, CA: SentryBay, the specialist cybersecurity company known for its Armored Client solution that protects employees of global tier 1 banks from data theft, launched BankSafe, which brings the same level of patented enterprise malware protection to online retail banking customers.
BankSafe will be available for banks and credit unions to directly offer their customers a downloadable application to ensure they have a protective shield when accessing online banking services and undertaking e-commerce transactions. Based on SentryBay’s Data Protection Suite, it is lightweight, requires minimal support, and has been deployed by millions of end consumers worldwide to prevent data and identity theft. BankSafe fully meets the banking compliance requirements of the FFIEC for layered browser security with online banking.
“All online financial transaction sites where debit and credit cards and personal and financial data are entered are fully protected by BankSafe,” said Dave Waterson, CEO at SentryBay. “This is a unique solution, which not only prevents fraudulent activity by known malware, it will also secure data entry against undetected malware, so future-proofing personal financial transactions. It is equally effective against the continuing retail banking threat of card-not-present fraud.”
BankSafe is highly effective in preventing online banking, identity-theft based and card-not-present (CNP) fraud, protected by patents, and, most importantly, uses technology that protects against the latest threats without continually updating. It works alongside the default browser on a user’s computer to provide proactive anti-keylogging, screen capture, and anti-phishing protection even against zero-day threats. Online retail banking customers also benefit from sophisticated anti-ransomware and advanced malware detection, allowing them to make use of online banking services and use e-commerce with confidence.
BankSafe software is designed to protect endpoints and can be deployed under a minute from an online retail banking or credit union portal. Once deployed, users will see a small window in the browser, which displays the ‘scrambling’ of every keystroke they make to combat malicious keylogging. The software can also be white-labeled to the bank, making it even easier to use by customers and providing a bank’s marketing footprint.
One of the main benefits of BankSafe, alongside the broad online protection, that the solution offers, is that it is easy to install and will work in tandem with other endpoint security and with Two Factor Authentication (2FA).