An account holder's preferred method of banking is via their online banking account. While convenient for the consumer, the financial institution is left exposed due to activity that they cannot control. However, regulators still expect institutions to have controls in place to address these online banking avenues, specifically that institutions must be able to monitor irregular behavior.
TrueAccount uses powerful, threat-level scoring to monitor the behavior on each account and determine which account is at risk. Scores are based on a number of factors including login location, incoming IP address, anonymous proxy, session behavior, and abnormal transfers.
When the threat level rises above a pre-determined threshold, TrueAccount notifies the financial institution via email of the high-risk activity. This allows the institution to contact the account holder or place the account on hold while investigating.
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