LGE Federal Credit Union Boosts Member Confidence with Deployment of Risk-Based AuthenticationLGE Federal Credit Union Boosts Member Confidence with Deployment of Risk-Based Authentication Credit Union Increases Use of Online Banking After Deploying Digital Resolve’s Fraud Analyst Solution
ATLANTA – (May 30, 2007) – LGE Federal Credit Union (LGEFCU), a full-service, not-for-profit financial institution serving more than 89,000 members worldwide, has deployed Fraud Analyst, a multifactor authentication solution from Digital Resolve, the authority in transparent risk-based authentication, in an effort to provide strong protection for its members and to boost confidence in the use of online banking.
Fraud Analyst is a proven and deployed solution for risk-based authentication that provides powerful yet transparent user authentication, and is helping to reduce online fraud by as much as 90 percent. Using behavior profiles that track the way in which members normally log in to their online accounts, financial institutions can spot suspect login behavior in real time, and provide further authentication should a login transaction meet pre-defined risk thresholds set by the financial institution – all without disrupting the normal member experience while banking online. Furthermore, powerful research, analysis and reporting tools deliver unparalleled insight into the online channel, helping clients to truly understand the way in which online users interact with their web banking applications.
“We discussed at length our desire to increase the use of online banking and to make it as simple as possible for our members,” said Stanley Hixon, CISSP and Network Security Administrator for LGE. “Fraud Analyst was an attractive solution for the ease of use for our members; the platform was flexible enough to fit into our existing network infrastructure; and implementation was smooth and predictable. Another thing that differentiated Fraud Analyst was its research and reporting capabilities, which paid off immediately in helping LGE to understand the login behaviors of our members.”
“It’s been great to work with Digital Resolve, as they delivered exactly what they said they would,” added Laura King, Vice President of IT for LGE. “Many other solutions have hidden cost factors that are challenging to quantify at the outset. That was not the case when we implemented Fraud Analyst.”
“We’re pleased that we have been able to help LGE increase its members usage of online banking,” said Dennis Maicon, Executive Vice President, Financial Services Solutions, Digital Resolve. “Fraud prevention is our focus, and helping LGE to increase confidence in the online channel and address fraud in a way that doesn’t disrupt the online banking experience for members is what Digital Resolve is all about.”
About Digital Resolve
Digital Resolve is committed to securing online identities, information, accounts and transactions against fraud and identity theft by developing solutions that provide 360º protection for the online channel. The company’s comprehensive online fraud detection and prevention solutions are helping financial institutions and enterprises of all sizes reduce online fraud by as much as 90 percent, delivering peace of mind that the online channel is safe and profitable.
For more information visit http://www.digital-resolve.net.
About LGE Federal Credit Union
LGE Federal Credit Union is a full-service, not-for-profit financial institution that has approximately 565 million dollars in assets and serves more than 89,000 members worldwide. LGE employs more than 200 individuals throughout Georgia and operates eight retail branch facilities and 15 ATM locations. LGE is federally insured by the National Credit Union Administration and is currently ranked the 6th largest Credit Union in the state of Georgia according to the Georgia Credit Union Affiliates (GCUA). LGE operates by the Credit Union philosophy of "people helping people." For more information please visit http://www.lgefcu.org.
Laura B. King, Vice President of Information Technology
LGE Federal Credit Union