SaaS Allows CU To Soar To The Cloud Faster
WESTBURY, N.Y.-Software-as-a-Service (SaaS) delivery made it possible for NEFCU here to go live with behavior analytics software in less than four weeks-and deployment could have been even faster had the CU been familiar with the format of its online banking reports, said John De leso, CIO.
Thanks to SaaS, NEFCU, formerly known as Nassau Educators FCU, is also spared the expense of buying, supporting and housing servers to run the software, he said.
The cloud-based offering is part of the October release of Guardian Analytics FraudMAP Version 4. Enhancements include a deeper analysis of member behavior, including identifying the absence of expected activity in addition to the presence of unexpected activity, said Tiffany Riley, VP-marketing, Guardian Analytics.
Version 4 is attuned to advanced forms of "Man in the Browser" malware attacks in which criminal machines appear to be legitimate, Riley said. "We adjusted the model to put less trust on location characteristics such as network and IP address and more weight on member behavior such as email address changes."
Smaller credit unions can get started on the SaaS-based solution for under $20,000 per year, whereas larger credit unions typically spend over $75,000 annually, according to Guardian Analytics.