Date: 10-06-2021 10:17AM
Source: RSA Security LLC
Category: General, Economy, Internet, Cyber Security, Information Technology, Banking & Financial Services, Business Services, Technology, It & Tech
Location: Palo Alto, Calif., United States
Business Wire India
RSA Security LLC ("RSA" or the "Company") today announced the transition of its Fraud & Risk Intelligence business into a new standalone company serving a worldwide customer and partner community.
The new organization, Outseer, is led by CEO Reed Taussig who joined the RSA Fraud & Risk Intelligence business in late 2020 and is a veteran of the fraud prevention and digital identity industry.
With this strategic transition defined by self-directed company management and a modern corporate identity, Outseer will continue to deliver all heritage products in a newly constituted portfolio:
- Outseer Fraud Manager™: (formerly RSA Adaptive Authentication) protects customers across all digital channels with risk-based account monitoring decisions
- Outseer 3-D Secure™: (formerly RSA Adaptive Authentication for eCommerce) the gold standard in card-not-present and digital payments authentication mapping to the latest EMV® 3-D Secure standard
- Outseer FraudAction™: (formerly RSA FraudAction) delivers rapid detection, takedown, and data insights related to phishing sites, rogue apps, and fraudulent social media pages
Together, these award-winning offerings serve as the benchmark for payments authentication, detecting account compromise fraud, and fraud investigations while upholding friction-free customer experiences for the world’s leading merchants, issuing banks, and payment providers.
Underlying the Outseer product portfolio are two deep investments in data and science:
- Outseer Global Data Network™: The industry’s first global consortium of verified fraud and transaction data
- Outseer Risk Engine™: Identity-centric risk graph delivering 95% fraud detection rates with an intervention rate of 5% or less
“Outseer is the culmination of decades of science-driven innovation in anti-fraud and payments authentication solutions,” Taussig said. “As the digital economy continues to deepen, the Outseer mission to liberate the world from transactional fraud is essential. Our role as a revenue enabler for the global economy will only strengthen as every digital business continues to scale.”
This move follows the COVID-19 pandemic which fueled unprecedented growth in digital commerce, compressing a decade of transformation into 12 months. Payment card schemes, issuing banks, and commerce providers have witnessed unprecedented fraudulent transactions and even orchestrated attacks in their payment networks.
To meet these new challenges, Outseer will continue to innovate their payments authentication offerings, mapping closely to the EMV® 3-D Secure 2.x payment standard and incorporating new technology integrations across the payments and commerce ecosystem.
“Outseer’s reason for being isn’t just focused on eliminating payments and account fraud,” Taussig said. “These fraudulent transactions are often the pretext for more sinister drug and human trafficking, terrorism, and other nefarious behavior. Outseer has the ability to help make the world a safer place.”
Founded in 1982, RSA has built a reputation over four decades of being a critical solution provider for security-sensitive customers and a leader of innovation that enables enterprises to address rapidly evolving risks and security threats. Today, RSA services 2 billion individual users and has 26 million identities under management, and more than 12,500 customers rely on RSA's software solutions to enable their digital transformation, address increasingly advanced cyber threats and adapt to more complex digital regulations.
RSA announced in 2020 that it had begun operating as an independent company via acquisition by Symphony Technology Group, valuing the company at $2.1 billion.
Outseer, an RSA company, empowers the digital economy to grow by authenticating billions of transactions annually. Our payment and account monitoring solutions increase revenue and reduce customer friction for card issuing banks, payment processors, and merchants worldwide. Leveraging 20 billion annual transactions from 6,000 global institutions contributing to the Outseer Data Network, our identity-based science delivers the highest fraud detection rates and lowest customer intervention in the industry. See what others can’t at outseer.com.
RSA, a leader in cybersecurity and risk management solutions, provides organizations with technology to address challenges across security, risk management and fraud prevention in the digital era. RSA solutions are designed to effectively detect and respond to advanced attacks; manage user access control; and reduce operational risk, fraud and cybercrime. RSA protects millions of users around the world and helps more than 90 percent of the Fortune 100 companies thrive and continuously adapt to transformational change.
View source version on businesswire.com: https://www.businesswire.com/news/home/20210609005320/en/
Senior Director of Worldwide Communications