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FiVerity Recognized by Leading Organizations for Enabling Anti-Fraud Collaboration Between Financial Institutions

AITHORITY
By AIT News Desk
Mar 7, 2022
Awarded Gold for Fraud Prevention from the Cybersecurity Excellence Awards and Silver for Security Product and Service for Finance and Banking from the Globee Awards Cyber Security Global Excellence Awards

FiVerity, a leading provider of digital fraud visibility and collaboration solutions, today announced that it was awarded two cybersecurity industry awards. FiVerity’s Cyber Fraud Network solution was named a Gold Winner by the Cybersecurity Excellence Awards in the category of Fraud Prevention - North America and a Silver for Security Product and Service for Finance and Banking from the Globee Awards 18th Annual Cyber Security Global Excellence Awards.

The Cybersecurity Excellence Awards honor individuals, products and companies that demonstrate excellence, innovation and leadership in information security.

The Globee Cyber Security Global Excellence Awards recognize cyber security and information technology vendors with advanced, ground-breaking products, solutions, and services that are helping set the bar higher for others in all areas of security and technologies.

“These awards are further recognition that one of the most effective methods of fraud prevention today is to embrace collaboration,” said Greg Woolf, CEO and Founder of FiVerity. “By empowering banks and financial institutions to share information without fear of breaking privacy requirements, the industry can finally fight back against the criminals and fraudsters that have been so successful in recent years.”

FiVerity’s Cyber Fraud Network assembles the collective knowledge of financial institutions, regulators, and law enforcement on digital fraud. FiVerity facilitates the secure exchange of fraud intelligence between consumer lending institutions, while preserving the privacy of personally identifiable consumer information (PII). The network, which can be accessed through a simple and secure API integration, strengthens each organization’s defenses by alerting them to new as well as existing fraudulent activity within their network. In addition to providing ongoing defense, this multiplies the ability to identify, learn from, and stop new fraud patterns from succeeding.

Collaboration is vital as the rush to offer digital services in the wake of the pandemic left financial institutions vulnerable, and fraud attempts skyrocketed. For more information on the importance of information sharing in the payments industry, download the Sharing Fraud Intelligence Across Financial Institutions eBook here.

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