Swiss retail bank PostFinance has selected Splunk, a provider of software platform for real-time operational intelligence, to protect its customers, online banking portal and payments processing solutions from fraud.
The technology vendor said that its Splunk Enterprise platform will help the bank detect, assess and respond to security threats in its data.
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It will also enable the lender to detect fraudulent debit card transactions and monitor its online banking portal.
The platform will also give the Swiss lender better visibility across its entire IT infrastructure, Splunk added.
PostFinance head of IT operations and IT infrastructure Patrick Hofmann said: "Splunk Enterprise supports the payments experience by providing useful data for the fraud management team to analyze. We have configured a number of automated alerts across a range of potentially fraudulent scenarios, from multiple debit card transactions that come close to a card limit, to significant changes in revenue for a particular merchant.
"Such automated searches using Splunk Enterprise feed into a dashboard that analyzes activity and alerts the team to potential issues, meaning we can better protect our customers."
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By GlobalDataSplunk senior vice president of security markets Haiyan Song added: "With fraudsters becoming increasingly sophisticated and difficult to detect, the evidence lies in the massive amounts of data generated across the business. Being able to index and search relevant machine data means that organizations can more easily identify fraud in real time, preventing a negative impact on customers."
