PALO ALTO, Calif. — Addison Avenue Federal Credit Union has signed an agreement with VeriSign, Inc. to implement VeriSign’s VIP Fraud Detection Service for Addison Avenue members in 2007.

Members who use Addison Avenue’s online banking service will automatically enjoy an enhanced authentication process for their online transactions to help ensure that the account is being accessed only by its rightful owner.

The VIP system offers multiple layers of fraud protection, is nonintrusive, and does not require the member to install any special software, according to VeriSign.

As early as September of this year, the system will begin analyzing Online Banking transactions in real time and comparing them to the member’s typical Online Banking behavior. Only if an abnormality is detected will the system challenge the member using one of a number of authentication methods.

Federal Financial Institutions Examination Council guidelines require financial institutions to apply enhanced authentication procedures to online transactions by the end of this year. Addison Avenue has been preparing for this additional level of protection for its members by establishing online transaction patterns based on over a year of data.

By early 2007, Addison Avenue also expects to offer additional authentication methods for members who wish to enroll.