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PORTLAND, Ore. – Corillian Corp. says more than 20 credit unions and banks have signed up so far to use its new Corillian Fraud Detection System. The online banking vendor says its system centers on a patent-pending Web log analysis solution and methodology that identifies potential phishing behaviors before an attack is launched, as well as detect and investigate attacks after they occur. One top 10 financial institution which recently implemented the solution, has seen an over 90% reduction in phishing incidents, virtually eliminating the successful phishing attacks related to its online banking service in as little as 30 days, the company claims. “The financial institutions that have implemented the Corillian Fraud Detection System now have the capability to view a comprehensive profile of suspicious traffic on their Web sites on a daily basis,” says Jim Maloney, chief security executive at Corillian, “The resulting suspicious activity reports are being integrated into their operational processes, enhancing the security, privacy, and reliability of their online services.” Maloney says the system also helps combat fraudulent account enrollment, access and use and money laundering.

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