RSA Security Inc., the security division of the Hopkinton, Mass., data storage vendor EMC Corp., said Wachovia Corp. is using the RSA Adaptive Authentication system and has joined the RSA eFraudNetwork.
The authentication system analyzes online banking transactions in real time to calculate a risk score that guards against fraud. It can call for challenge questions or an "out-of-band" verification such as a telephone call to validate high-risk transactions.
RSA said its network shares information from more than 50 large financial institutions and many more small ones.
"It was important for us to find solutions that would not be perceived as a burden by our customers while at the same time ensuring that they are, in fact, secure," Michael Toth, the online business product manager at Wachovia, said Monday in a press release by RSA.
