Tuesday, May 11, 2010

Finovate: Silvertail

Fraud teams in banks are hindered through the use of third-party partners used for bill paying.

Silvertail monitors all of the traffic on the website. It sees when keylogging viruses pick up info you enter on your PC to access your online account then immediately log in remotely to access your account.

Because you use partners to process bill pay, there is a disconnect between what you track on your website and what goes to your partners. Silvertail take all activity through your bank's site, so you can track everything, before forwarding it to the partner. There is no change to the user experience, but now you can track everything because all traffic goes through your site.

Now the bank can add filters that redirect certain requests and certain bill payers, to redirect them to a customer support page. As soon as you start spotting issues, you can start preventing further issues of the same type, even on partner websites you depend on.

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