Data and Database Management Software
Vision Meets Reality; Entrust Launches Open Fraud Intelligence Network
DALLAS, May 2 -- In February, Entrust, Inc. (NASDAQ:ENTU) announced plans for a service focused on advancing the fight against online fraud attacks. Today, that vision is a reality as Entrust officially delivers the Entrust Open Fraud Intelligence Network (OFIN), a vendor-neutral network environment that facilitates the sharing of fraud data, tactics and behavior as experienced by leading global organizations.
Unfortunately, current-day networks are either proprietary to one security vendor or cater to a single vertical market. The Entrust Open Fraud Intelligence Network changes that approach and gathers information from all participating online enterprises -- led by financial institutions, but certainly not limited to them -- to amass a large database of fraud information.
"The security marketplace was lacking an open, non-proprietary tool that could be leveraged to consolidate data to fight online fraud -- regardless of the market environment, organization size or fraud solution in question," said Entrust Chairman, President and Chief Executive Officer Bill Conner. "For too long the online criminal element has had the upper hand with dedicated resources, deep financial backing and a skillful, collaborative community. Now, organizations have the means to learn from each other and leverage that knowledge for use with sophisticated, fraud-monitoring security solutions."
Working through the Internet Engineering Task Force (IETF) standards body, Entrust is focused on open collaboration with financial institutions and other security-conscious organizations on how fraud data and behaviors can be shared in an open manner, irrespective of what fraud detection solution is being used.
Part of a layered security strategy, the Entrust Open Fraud Intelligence Network delivers critical, consolidated information from a variety of sources, including the sharing of fraud patterns that have been experienced by financial institutions, global online retailers, federal agencies and healthcare groups, among others. Competing providers use fraud networks that only offer their service to specific types of organizations, which comprise just a small fraction of all online activity.
Unlike other offerings that are focused on IP-based data as the primary method for fraud detection, OFIN provides organizations with a more effective approach by sharing patterns of behavior that can indicate fraud. Coupled with flexible fraud detection solutions, including Entrust TransactionGuard's zero-touch approach, organizations are empowered to rapidly react and address new fraud threats based on the network's shared knowledge. The data elements -- including IP-Geolocation, anonymous and open proxy, and IP reputation -- are gathered from leading data providers and consolidated through OFIN, delivering organizations a constant flow of current and relevant data.
The Entrust Open Fraud Intelligence Network works seamlessly with Entrust's Risk-based Authentication Solution -- comprised of Entrust IdentityGuard for versatile authentication and Entrust TransactionGuard for zero-touch fraud detection -- and enables organizations to work with a single security provider for best-of-breed tools in the fight against fraud through 2007 and beyond.
About Entrust
Entrust, Inc. (NASDAQ:ENTU) is a world leader in securing digital identities and information. Over 1,650 enterprises and government agencies in more than 60 countries use Entrust solutions to help secure the digital lives of their citizens, customers, employees and partners. Our proven software and services can help customers in achieving regulatory and corporate compliance, while helping to turn security challenges such as identity theft and e-mail security into business opportunities. For more information on how Entrust can help secure your digital life, please visit: http://www.entrust.com/.
Entrust is a registered trademark of Entrust, Inc. in the United States and certain other countries. In Canada, Entrust is a registered trademark of Entrust Limited. All Entrust product names are trademarks or registered trademarks of Entrust, Inc. or Entrust Limited. All other company and product names are trademarks or registered trademarks of their respective owners.
CONTACT: Brooke Hamilton, Media Relations of Entrust, +1-972-713-5915, brooke.hamilton@entrust.com
