Entrust Inc. of Addison, Tex., said it has begun offering an antifraud network that will let banks share data with one another.
Clients can use the Open Fraud Intelligence Network to send information to Entrust's authentication and fraud detection software, though the network is designed to be vendor-neutral, Entrust said Wednesday.
It also said it is working with the Internet Engineering Task Force to determine how to share fraud data from multiple industries and with products from different vendors.
Though the network is expected to draw data primarily from financial companies, companies in other fields will be allowed to participate, Entrust said.
Bill Conner, Entrust's president, chairman, and chief executive, said in a press release that criminals often share data among themselves, and that an open network would give the same benefit to the participating banks. "Now organizations have the means to learn from each other."
Wednesday's announcement is similar to a project announced in October to make fraud data collected by VeriSign Inc. of Mountain View, Calif., compatible with Entrust's fraud detection software. The two companies said then that the project was the first step in creating antifraud products and services that would use components of different vendors' offerings.
EMC Corp.'s RSA Security said last year that it prefers to keep its antifraud network proprietary to control the flow of data.
