Business Signatures Introduces Two Fast-Track Turnkey Solutions for FFIEC Compliance in Online Financial Services

NACHA
RESTON, Va. & REDWOOD CITY, Calif.--(BUSINESS WIRE)--June 7, 2006--
Designed to Reduce Deployment Times and Minimize Impact on Customer Experience as Firms Race to Meet Fast-Approaching December Deadline

Launching simple and easily deployed solutions to the problem of protecting risky transactions in online financial services, Business Signatures Corporation (http://www.businesssignatures.com/) today announced two turnkey solutions capable of being deployed in twelve weeks or less to meet the fast-approaching December deadline set by the FFIEC (Federal Financial Institutions Examination Council). Based on its industry leading Real-Time e-Fraud Detector(TM) (RTFD) product selected this year by leading U.S. financial institutions, the two new Business Signatures solutions are:

-- Business Signatures Anomaly Detection with Customer Notifications

-- Business Signatures Anomaly Detection with Passive Authentication

In contrast to the alternative: a complicated integration of a token engine, an API integration-based fraud detection engine, and a two factor authentication engine, Business Signatures offers a single anomaly detection platform, enabling banks to quickly and efficiently deploy a "no API integration" product. The anomaly detection engine, RTFD, is capable of authenticating customers' devices passively or notifying customers in real-time if suspicious activity is noticed. In either case, the end customer experience is minimally impacted and deployment in online banking environments is straightforward and fast.

"Indications from regulators are that the deadline of December 2006 is not a flexible one," said Peter Relan, Chairman and CEO of Business Signatures. "However, there is some flexibility in the specific approach used to protect risky transactions in online services. Our two new solutions are powerful, easy to deploy, and minimize impact on customer experience. We believe our solutions provide timely alternatives to our competitor's more complex technologies -- given the few months left in the procurement and implementation cycle."

Business Signatures Anomaly Detection with Customer Notifications solution is based on the company's "no API integration" RTFD product, enhanced with real-time customer notifications using an approach proven in the credit card industry. Features include:

-- Simple GUI-based, customizable, e-Fraud Rule Library for configuring the detection of suspicious behavior or access to a customer account

-- Multiple choices for customer notifications, including email, SMS, or automated outbound calling to inform a customer when suspicious activity or access is noticed

-- Only Customer Service Application in the industry for helping customers if they get a notification and call-in to enquire about the suspicious activity noticed

Business Signatures Anomaly Detection with Passive Authentication is also based on the company's Real-Time e-Fraud Detector product enhanced with detailed device fingerprint profiling, so customers' access devices can be profiled in addition to behavior, and used for transparently authenticating a customer, without interrupting their user experience. Features include:

-- Simple GUI-based, customizable, e-Fraud Rule Library for configuring the detection of suspicious behavior or access to a customer account

-- Coupled with sophisticated and comprehensive profiling of the computer or device accessing the online account

-- One Time Passwords (OTPs) sent via email or SMS for challenging a user who fails passive device authentication

Pricing

Both solutions continue to lead the industry based on Business Signatures' ground-breaking "no per user" fee pricing model. For more details, interested parties can call Business Signatures at 406-982-3432.

End-End Compliance and e-Fraud Prevention Solution

Deployed by top U.S. financial institutions, the Business Signatures e-Fraud Prevention Solution is an integrated product suite that provides the most advanced defense against online fraud available today. Businesses Signatures products are easy to deploy. They require no changes to Web application logic or complex data extraction from transactional systems:

-- Business Signatures Mutual 2 Factor Authenticator(TM) (M2FA) provides FFIEC-compliant front-door protection for websites. Priced on a low, annual flat fee basis. (http://businesssignatures.com/company/press_releases/BusinessSignatures0...) (Due to its length, this URL may need to be copied/pasted into your Internet browser's address field. Remove the extra space if one exists.)

-- Business Signatures e-FraudMart(TM) is the first real-time fraud database for detecting and preempting fraud. Priced on an annual subscription fee. (http://businesssignatures.com/company/press_releases/BusinessSignatures0...) (Due to its length, this URL may need to be copied/pasted into your Internet browser's address field. Remove the extra space if one exists.)

Business Signatures Real-Time e-Fraud Detector(TM) (RTFD) enables the industry's first capability of real-time monitoring and intervention of in-session fraudulent activity. Priced on an annual subscription basis. (http://businesssignatures.com/company/press_releases/BusinessSignatures1...) (Due to its length, this URL may need to be copied/pasted into your Internet browser's address field. Remove the extra space if one exists.)

The integrated solution leverages the powerful Business Signatures data streams Intent Processor(TM) that provides real-time analysis of "fraudulent intent." The Business Signatures e-Fraud Prevention Solution is the subject of several patent applications for its unique depth of analysis.

Related News

"IBM Business Consulting Services Allies with Business Signatures to Offer Financial Industry Risk and Compliance Solutions" (http://businesssignatures.com/company/press_releases/BusinessSignatures0...) (Due to its length, this URL may need to be copied/pasted into your Internet browser's address field. Remove the extra space if one exists.)

"Top US Financial Institutions Select Business Signatures Breakthrough Solution for Real Time E-Fraud Prevention" (http://businesssignatures.com/company/press_releases/BusinessSignatures0...) (Due to its length, this URL may need to be copied/pasted into your Internet browser's address field. Remove the extra space if one exists.)

About Business Signatures

Business Signatures Corporation offers the e-Fraud Prevention Solution incorporating breakthrough technology to authenticate online customers and prevent fraud. Business Signatures products are the subjects of several patent applications for their real-time analytics-based approach to fighting fraud. Headquartered in Redwood Shores, California, Business Signatures is a private company. For more information, visit www.businesssignatures.com or call 650-622-3030.

Business Signatures Mutual 2 Factor Authenticator, Business Signatures Real-Time e-Fraud Detector, e-FraudMart and Intent Processor are trademarks of Business Signatures Corporation. All other products and brand names are trademarks of their respective owners.

Contacts
Business Signatures
Rachel Fragola, 650-622-3030
rfragola@businesssignatures.com