By B Shashikumar on Sep 28, 2011
The rapid adoption of mobile computing and migration of fraud attacks to mobile devices is forcing enterprises, banks and e-commerce providers to rely on sophisticated fraud detection capabilities. Recently Gartner put out a research note which estimates that by year end 2013, 12.5% of all ecommerce transactions will be conducted via mobile devices. Gartner also says that “The evolution of fraud detection tools will play a part in turning mobile commerce into location- and context-aware commerce by increasing the confidence of businesses, financial institutions and end users”. In the latest release of Oracle Adaptive Access Manager (OAAM), we added several enhancements which deliver context-aware security for mobile computing which are on par with fraud detection capabilities that exist for traditional computing.
Oracle Adaptive Access Manager offers a layered security model that enhances the security of online transactions, including mobile transactions, with multiple different capabilities:
- Device Identification & Location Awareness: Oracle Adaptive Access Manager (OAAM) delivers fingerprinting and geo-location for mobile devices to quickly detect and prevent new types of fraud or misuse. So let’s suppose John Doe always logs into his online banking application from his laptop or mobile device located in San Francisco. Now suppose there is a transaction to transfer thousands of dollars from John’s bank account and suppose this transaction is initiated from somewhere outside of North America from a device whose identity doesn’t match John’s PC or his mobile. OAAM flags this as an anomaly and can either block the transaction or challenge the user.
- Predictive Risk Analytics: OAAM has always delivered sophisticated risk analytics which factor risk to detect if a transaction is anomalous or not. In the latest release, OAAM has added predictive risk analysis to complement its flexible rules engine and pattern based auto-learning capabilities. So organizations can rely on a combination of location, end point identity, historical behavior and context-awareness to guarantee higher identity assurance for access from mobile devices.
- Answer Logic: This is a fuzzy logic based processing technique applied to challenge question responses and can increase the usability of a challenge answer flow by accepting variations of the valid answer. So if a fat-fingered user types in “Missus Smith” instead of “Misses Smith” as his mother’s maiden name, OAAM can automatically detect that this is a medium risk situation and allow the user to complete his transaction.
Join us on Tuesday Oct 4 at 10:15a in Moscone West 3022 to hear more from Mark Karlstrand, Sr. Manager of Product Management at Oracle, about how Oracle Adaptive Access Manager (OAAM) can help secure mobile transactions. Joshua Walderbach from Principal Financial Group will present a case study of OAAM.
For a complete schedule of Identity Management sessions at OpenWorld, see the Identity Management Focus On.