Covelight Systems Announces New Architecture for Online Fraud Management And Introduces FraudProbe™ Version 2.0 as First Implementation
FraudProbe Delivers Real-Time Online Fraud Data in an Application-Independent Appliance
September 12 2006 – Cary, NC - Covelight Systems, the innovator of real-time application- independent, transparent online fraud management solutions, today announced a robust new Capture, Transform and Feed (CTF) architecture that provides web-channel data at wire speed to backend analytic engines for a variety of enterprise uses. Covelight is also announcing FraudProbe™ 2.0 as the first product based on this new architecture. FraudProbe is the industry's first and only online monitoring product family specifically designed to feed actionable real-time data to fraud management systems, without requiring any integration with the online application.
Covelight's new Capture, Transform and Feed (CTF) architecture was developed in conjunction with one of the world's largest financial institutions to ensure that CTF meets regulatory requirements and delivers the performance needed in extremely high-volume environments. (See associated Covelight Systems CTF User Deployment press release.)
Fully-Featured for Enterprise Deployments
Covelight's revolutionary new real-time architecture, dubbed Capture-Transform-Feed (CTF), provides a full-feature set for enterprise deployments, including:
CTF Delivers a Real-Time Data for Numerous Enterprise Uses
CTF provides value to many enterprise applications and may be deployed in any number of solutions. Listed below are just a few.
The Need for Real-Time Fraud Data - Introducing FraudProbe 2.0
"Existing enterprise fraud systems are constrained by the lack of real-time online data. Our customers are looking for a solution that does not require extensive integration with their applications," said Spencer Snedecor, Covelight's CEO. "CTF solves a real-world problem and developed in conjunction with a very large financial institution customer. Our new FraudProbe 2.0 solution already has a successful deployment in what is arguably one of the world's most demanding online environments, and is what has us and other financial institution customers extremely excited."
Today's fraud management solutions suffer from a fundamental problem: they currently have no reliable real-time source of data to detect online fraud. Depending on application server logs or modifications to the application code, these systems are simply unable to detect fraud in real-time - without imposing a significant burden on application resources and personnel.
Covelight FraudProbe, with its use of CTF Technology, solves this problem by providing application-independent online fraud information to any fraud management or Complex Event Processing (CEP) system - in real time.
Covelight FraudProbe is the only online fraud monitoring solution designed to deliver comprehensive, fraud data to any fraud management system without requiring integration with the application - in real time. It is available immediately.
The entry level FraudProbe 1000 is a one rack unit fixed configuration system with two monitoring ports and a single management/output port. For more demanding installations, the three rack unit FraudProbe 5000 model includes redundant hardware components, optional SSL acceleration and FIPS-140 compliant key management, and network interface connectivity options. In addition, FraudProbe™ supports multiple high-availability deployment options, including active-standby and N+1.
About Covelight Systems
Covelight Systems is the field-proven leader in online fraud and identity theft solutions. With deployments at organizations that combined represent approximately $1.5 trillion in assets, Covelight's products, including Percept™ and FraudProbe, provide real-time, identity-based monitoring of critical online applications to protect the institutions' reputation and end-users from online fraud and identity theft. Only by deploying Covelight solutions can organizations detect suspicious user activity associated with online account takeover fraud, insider identity theft, phishing activity and session hijacking. For more information, go to www.covelight.com or call at (919) 677-9680.