The Hillsboro, Ore., online banking vendor Corillian Corp. and the New York security company Actimize Inc. have combined their products to create one to authenticate and monitor transactions.
The two companies announced said Thursday that three banking companies are already using the new product.
The software integrates Actimize's Cross Channel Electronic Banking and Payment Fraud Prevention with Corillian's Intelligent Authentication.
(The Atlanta bill payment provider CheckFree Corp. is acquiring Corillian.)
Most security software tends to cover either authentication category, which guards entry to banking Web sites, or transaction monitoring, which analyzes users' activities once they are granted entry to spot transactions that seem out of character or are especially risky, such as large transfers to external accounts.
The new product will "enable banks to break away from today's siloed fraud solutions and deploy a holistic transactional fraud detection and prevention capability across the enterprise," Amir Orad, an Actimize executive vice president and its chief marketing officer, said in a press release.
