RSA and Sandstone Team Up to Secure Online Banking

March 29, 2007: EMC’s RSA security and Sandstone Technology have teamed up to offer enhanced security services to companies in the finance sector, and hopefully improve consumer confidence in online financial transactions.

Sandstone develops and integrates specialised software, services and solutions for the banking and financial services sector. The company will be integrating its front-end Internet banking and lending systems technology with RSA’s Transaction Monitoring solution, with a top ten Australian apparently being the two’s first joint project.

RSA says that its technology enables financial institutions to assess online banking transactions and take appropriate action in real-time. The system works by assigning each transaction a risk score which the financial institution can then use alongside the RSA’s case management application and their own business rules to determine the appropriate course of action, such as conducting a manual review and seeking further identification of the user, or blocking the transaction outright.

“Our solutions are designed to be convenient, scalable and cost-effective while giving institutions a solid tool with which they can protect their customers' assets, identities and information,” says said Geoff Noble, RSA Banking and Finance Specialist. “Through this strategic partnership Sandstone customers will receive strong online fraud protection in the market today delivered through a trusted, local provider.

“Banks will also join the RSA eFraudNetwork community. This is the industry's most effective cross-institution, cross-platform online anti-fraud network dedicated to sharing and disseminating information on fraudulent activity,” added Noble.

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