Covelight Systems' CTF Architecture Deployed at One of World's Largest Financial Institutions
FraudProbe™ Delivers Real-Time Online Data to Fraud and CEP Systems
September 12 2006 – Cary, NC - Covelight Systems, the innovator of real-time application- independent, transparent online fraud management solutions, today announced their new Capture, Transform and Feed (CTF) architecture that enables backend systems to detect and respond immediately to online fraud, is being used by one of the world's largest financial institutions.
A major US financial Institution wanted a way to evaluate their web channel transactions in real-time, with the business goal of increasing revenues in 2 ways: 1) mitigating risk and loss by detecting fraud in real-time, and 2) analyzing web user traffic to better understand their online customers and to increase their cross selling to the customer while online.
This financial institution evaluated solutions from over 20 vendors, ranging from traditional enterprise fraud vendors to business intelligence providers. The requirements and scale of this project pushed the envelope of current offerings: tens of millions of online users dispersed across multiple data centers, with each data center load balanced for performance, and each data center able to withstand peak network traffic rates of over 10,000 hits per second, in the event that any of the data centers experienced an outage.
It was determined that no single vendor could meet their needs with a single solution, thus, the project was divided into two distinct components: 1) real-time application-independent data capture, and 2) an enterprise message bus architecture with a Complex Event Processing (CEP) engine for developing the fraud detection rules. Covelight worked closely with the financial institution to meet the requirement for wire speed data capture to feed the enterprise message bus.
Detailed requirements for the data capture component included zero latency, complete application independence, and FIPS-compliant SSL decryption of application traffic across a massively scaled user population and enterprise. Central to creating this new solution, named FraudProbe, Covelight developed an enhanced real-time architecture - branded Capture, Transform, and Feed (CTF) - and delivered the solution in less than six months. (See associated Covelight CTF press release.)
In creating the new CTF architecture, Covelight worked closely with this financial institution to deliver on the following concepts.
Ultimately, the financial institution selected Covelight based on the aforementioned merits of the CTF architecture and its unique ability to separately deliver events at the time of the user's request and the corresponding web server response, giving them wire speed detection and a competitive advantage over fraudsters.
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.
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.