NACHA Showcase Focuses on
Next Generation Payments Security
Out-of-Band Authentication Featured as ACH Fraud Solution
Baltimore, MD – September 23, 2009 – Authentify presented its Out-of-Band Authentication (OOBA) solution for ACH payment protection at the NACHA Risk Management Vendor Showcase held in Baltimore, Maryland on September 22 nd. As part of a distinct group of technology providers driving security processes for the payments industry, John Zurawski, Authentify Vice President, demonstrated the benefits of OOBA to ACH payments professionals focused on battling ACH payments fraud.
Authentify’s cloud-based OOBA service stops fraudulent payment activities by placing an automated phone call to the account owner for verification of the transaction. Given the emergence of malware and other types of account hijacking, securing transactions through a separate channel, the telephone network, continues to be one of the most reliable defenses against payment fraud. The recent concern about fraud in the ACH payments network points to online criminals beginning to target larger web-based transactions. “If a cyber-criminal is able to change the transaction credentials for a day’s worth of business to business ACH transfers, there is much more at stake than defrauding individual consumers one at a time. The increased payoff for criminals makes effective ACH security all that more important,” said Zurawski. The Risk Management Showcase was followed by a two day NACHA Council Mega Meeting where sessions detailing high profile security breaches continued to call for strengthened anti-fraud measures.
About Authentify
Authentify Inc., provides automated authentication services to prominent global businesses, routinely protecting accounts and transactions in more than 150 countries. Authentify delivers an effective authentication process relying on making telephone contact with a user while they are managing an online account. It is a process that is practical for businesses, easy for users and effective worldwide by virtue of leveraging the reach and stability of the public switched telephone network. The company’s patented technology employs a message based architecture permitting easy layering with existing technology and infrastructure. The company’s primary focus is providing authentication services to enable routine but sensitive processes to complete with high levels of certainty. For more information visit Authentify at: www.authentify.com or contact:
Authentify, Inc. |
© September 2009, Authentify, Inc.
Authentify technologies protected by U.S. Patent Nos. 6,934,858/7,383,572/7,46,258
