AP NEWS
Press release content from Business Wire. The AP news staff was not involved in its creation.
PRESS RELEASE: Paid content from Business Wire
Press release content from Business Wire. The AP news staff was not involved in its creation.

Device-Based Authentication Capabilities from Fiserv Enhance Both Cybersecurity and Customer Experience

April 23, 2019 GMT

BROOKFIELD, Wis.--(BUSINESS WIRE)--Apr 23, 2019--Fiserv, Inc. (NASDAQ: FISV), a leading global provider of financial services technology solutions, has launched capabilities that enable financial institutions to enhance cybersecurity while improving the customer experience. The company has launched SecureNow TM: Login Defense from Fiserv to facilitate accurate recognition of suspicious devices, enabling banks and credit unions to increase cyberattack detection rates while reducing the number of times customers are required to take extra steps to access accounts.

SecureNow: Login Defense is an extension of SecureNow from Fiserv, a centralized, real-time cybersecurity platform that integrates multi-factor and device-based authentication with behavioral analytics to enable financial institutions to combat fast-moving threats while simplifying the digital experience for legitimate users.

SecureNow: Login Defense incorporates device reputation insights from the global consortium of iovation, a TransUnion company, and location data from Neustar, a provider of real-time information services including security solutions, to analyze potential risk based on a wide range of device-related factors such as account access frequency, history and location. Fiserv data shows devices being used by an attacker are recognized in real time 90 percent of the time.

SecureNow includes multiple layers of behind-the-scenes security so the experience is seamless for the customer. This was a key benefit for South Carolina Federal Credit Union, which implemented SecureNow to improve digital usability while increasing security.

“For us, the story had been, ‘let’s ratchet online banking down so tight that we won’t ever get any fraud out of it,’ which turned out to be a relatively successful approach,” said Brad Williams, chief technology officer, South Carolina Federal Credit Union. “But the byproduct was a challenging user experience for our members. After seeing what SecureNow could do for us in the background, we felt comfortable replacing some of the front-end security measures we had in place in order to provide a simpler user experience.”

Since implementing SecureNow, South Carolina FCU has seen challenge rates decline from 28 percent to less than 10 percent, meaning fewer members are having to key in a one-time passcode or are getting locked out of accounts. This not only improves the member experience, it also helps lower call center volume.

Fiserv cybersecurity experts operate the SecureNow platform for financial institutions, reducing overhead and allowing clients to focus on core digital business activities.

“SecureNow replaces traditional security mechanisms with data-driven risk decisioning and monitoring to deliver robust protections against rapidly evolving threats,” said Dan Bjerke, senior vice president, Digital Banking, Fiserv. “This allows financial institutions to deliver the seamless user experiences digital banking users demand without compromising on security.”

SecureNow complements other leading-edge cybersecurity solutions offered by Fiserv, including CyberProtect SM and Cyber Secure SM, which are designed to mitigate risks within the financial institution as well as risks associated with customer-facing services.

Intelligent security capabilities offered by Fiserv enable financial institutions to understand emerging threats and establish multilayered defenses to minimize risk, prevent fraud, help ensure compliance, and enable consumers and businesses to transact with confidence. In a world moving faster than ever before, Fiserv helps clients deliver solutions in step with the way people live and work today – financial services at the speed of life. Learn more at fiserv.com.

Additional Resources

About South Carolina Federal Credit Union

Connect with South Carolina Federal Credit Union for products, services and financial literacy. More than 155,000 members and $1.7 billion strong, the member-owned cooperative operates 20 offices in four major markets to include Charleston, Columbia, Georgetown, and Florence. Over 55,000 surcharge-free ATMs are available worldwide through the Allpoint Network. More information about South Carolina Federal can be found at scfederal.org.

About Fiserv

Fiserv, Inc. (NASDAQ: FISV) enables clients worldwide to create and deliver financial services experiences in step with the way people live and work today. For 35 years, Fiserv has been a trusted leader in financial services technology, helping clients achieve best-in-class results by driving quality and innovation in payments, processing services, risk and compliance, customer and channel management, and insights and optimization. Fiserv is a member of the FORTUNE ® 500 and has been named among the FORTUNE Magazine World’s Most Admired Companies ® for six consecutive years, recognized for strength of business model, people management, social responsibility and innovation leadership. Visit fiserv.com and follow on social media for more information and the latest company news.

FISV-G

View source version on businesswire.com:https://www.businesswire.com/news/home/20190423005664/en/

CONTACT: Media Relations:

Ann Cave

Director, Public Relations

Fiserv, Inc.

678-325-9435

ann.cave@fiserv.comAdditional Contact:

Marcus Hardy

Manager, Public Relations

Fiserv, Inc.

801-823-5534

marcus.hardy@fiserv.com

KEYWORD: UNITED STATES NORTH AMERICA SOUTH CAROLINA WISCONSIN

INDUSTRY KEYWORD: TECHNOLOGY SOFTWARE SECURITY PROFESSIONAL SERVICES OTHER PROFESSIONAL SERVICES

SOURCE: Fiserv, Inc.

Copyright Business Wire 2019.

PUB: 04/23/2019 10:30 AM/DISC: 04/23/2019 10:30 AM

http://www.businesswire.com/news/home/20190423005664/en