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As apps shrink the gap between financial firms and their customers, banks are coping with new and growing risks that accompany mobile devices.
May 31 -
Fraud is a growing problem with mobile devices, but users still want convenience.
June 1
Digital security company nProtect has introduced software that aims to prevent online banking fraud by detecting anomalous activity.
The San Jose, Calif.-based company said Monday that its nProtect Fraud Detection System creates a personalized pattern for each customer and blocks suspicious transactions in real time.
The system also lets financial institutions monitor customers' geographic location, operating system, computer Internet address and other information that can help in preventing scams and tracking down fraudsters, according to nProtect.
The system allows users to compile statistics for regulatory compliance and auditing, the company said.
