First New Solution Offering, Integrated Fraud Platform, Leverages Recently Announced Partnership With Digital Harbor

The first solution available under the new suite -- EFD Integrated Fraud Platform -- is the first offering delivered through the recently announced alliance between EFD and Digital Harbor. It enables financial institutions to better leverage existing anti-fraud applications and internal and external data sources to drive better, more efficient decisions in the fraud prevention and investigation process. EFD Integrated Fraud Platform is the first solution of its kind to integrate the management of alerts from multiple sources and the fraud investigation case management process.

Currently, financial institutions struggle with limitations imposed by disparate antifraud applications and manual processes. As a result, fraud investigation and prevention are often divided along product, channel and geographic lines. This approach focuses attention on isolated fraud incidents and prevents institutions from seeing fraud across channels from a customer-level view. This ability to manage fraud at a holistic level, outside of traditional barriers, is widely recognized as one of the most critical needs facing the industry.

"The ability to manage fraud at the enterprise level is becoming increasingly essential as fraudsters penetrate and radiate across lines of business. You need to be able to address the problem with urgency and limit your exposure the moment the first signs occur," said Kay Nichols, executive vice president of strategy, marketing, and product development at EFD. "EFD's Integrated Fraud Platform transforms the conventional approach to fraud -- investigators and departments each with their own queues of alerts and cases based on isolated events -- into an enterprise approach that drives new efficiencies.