NetAuthority Inc.’s upgraded fraud prevention services include advanced encryption modules and software that allows banks and health-care facilities to more easily deploy them, the San Francisco, Calif.-based company announced Jan. 29.
NetAuthority focuses on device authentication, service authentication and transaction verification keys as the foundation of its services.
The new service enhances NetAuthority’s two-stage identification and authentication challenge process for specific devices or for system keys, which lock and unlock entry into the payment system. The service provides the ability for clients to independently issue new key pairs to reduce the vulnerability of the keys to theft, while also making it easier centrally manage the system.
The new fraud-prevention service also provides more tools for Federal Information Processing Standard and Payment Card Industry compliance on a larger scale, NetAuthority says.
The company seeks to slow the surge of cyberattacks in the card-not-present space that target online transactions, end-user impersonation, security breaches or theft. In addition, NetAuthority’s service targets cybercrooks utilizing man-in-the-browser and man-in-the-middle attacks with stolen credentials.
“These new features released today are designed to enhance and fortify our device authentication service and engine solutions, making them stronger and easier to use,” Chris Brennan, NetAuthority CEO and founder, states in a press release.
NetAuthority services protect online and mobile banking, including e-wallets and peer-to-peer payments.
Clients already using NetAuthority will receive automatic upgrades to their software through their device authentication service subscription, the company says.