Updated: Apr 17, 2020
Pavlo Zhdanovych, managing director of Softprom by ERC
Software specialist Softprom by ERC and ThreatMark, provider of a comprehensive solution to prevent online banking fraud, announced the signing of a distribution agreement. Under its terms, Softprom by ERC becomes an official distributor of ThreatMark in Europe and the CIS through its offices in Austria, Azerbaijan, Belarus, Georgia, Kazakhstan, Moldova, Russia and Ukraine.
In addition to developing proprietary security solutions, ThreatMark conducts research in the areas of malware detection, artificial intelligence and behavioural biometrics, and applies the results of its research to the production environment, particularly banking systems.
The idea behind ThreatMark was to create a lightweight, easy-to-use, easy-to-deploy, yet effective fraud detection platform that supports the major players in the industry and can be deployed in both small and medium sized banks with limited resources. The entire team is focused on a single product and takes advantage of the latest developments in cyber-security.
"ThreatMark's Anti-Fraud Suite (AFS) fraud prevention solution for digital banking and payments is innovative, feature-rich and modular. It provides behavioural profiling, including behavioural biometrics, transaction risk analysis and threat detection in a machine learning-based analysis engine. As a result, bank customers benefit from consistent, always active, yet invisible two-factor authentication that frees end-users from tedious online banking login and authentication processes", explains Pavlo Zhdanovych, managing director of Softprom by ERC.
ThreatMark's solution handles hundreds of parameters that define what customers do when they open a new account online during the login process and also helps protect users as they interact with the applications. It analyses hundreds of connection, device and sessions parameters and measures how users interact with the device and applications.