Unisys partners with Prevx to help banks reduce the risks they face from cyber crime

(02/07/2009)

According to the Banking Code, banks are liable for any funds lost by a customer through cyber crime unless they can prove that the victim did not take ‘reasonable’ care to protect their personal details. Banks previously have been forced to offer mainstream security products to their customers at discounted prices - which can be costly, time consuming and legally contentious.

Unisys has announced a strategic software and services agreement with Prevx to help organisations reduce the risks they face from cyber crime. Unisys is partnering with Prevx in the UK to sell the Prevx 3.0 Banking and Finance and Prevx 3.0 Enterprise technologies to commercial, banking and public sector organisations. Prevx is included in the recently published Gartner Magic Quadrant for Endpoint Protection Platforms and Unisys will be the first solutions provider in the banking and finance sector to promote and deliver these powerful solutions to address the growing concerns of Internet banking fraud.

Prevx eCommerce security products are heterogeneous applications that work in tandem with existing anti-virus technology to detect and counter new infections, one third of which are not currently caught by the market’s leading security products. By overcoming proprietary incompatibilities with other anti-virus products, Prevx technology can enhance the efficacy of third-party security products.

Prevx 3.0 can help financial institutions protect their customers more effectively. The product is one of the most discreet malware solutions available and takes only a few seconds to download. By detecting changes in the PC and offering a real-time view of the risk factors, banks and eCommerce companies can establish, configure and manage an online banking session. Unlike existing anti-virus software, Prevx 3.0 also has a proven track record in identifying and quarantining low-level, high-volume attacks.

Robert Chapman, Head of Global Outsourcing and Infrastructure Services for Unisys UK, commented: “Unisys and Prevx will be a powerful combination in the battle against cyber crime. The sheer size of the cyber threat facing industry and Government can appear overwhelming. More than 50 percent of PCs have one or more critical weaknesses that increase the risk that they will be infected by a virus. Also, the imperative to bolster our defences is even more clear when you consider that the world’s top 10 leading banks collectively provide Internet banking services to more than 60 million customers; some government and military agencies are individually responsible for several million PCs; and many large enterprises have 50,000 or more systems. We’re proud to stand with Prevx at the vanguard of this offensive against cyber crime.”

Mel Morris, CEO at Prevx, added: “Unisys has been deeply involved in the security of UK financial services industry for more than 100 years and is the backbone of front and back-offices for most of the financial institutions of this country. Signing this deal gives us unrivalled access to global financial organisations worldwide. With Unisys’ track record in the field of managed services and Prevx 3.0’s intelligence-led approach, we’ve reached a key milestone in our industry’s ability to safeguard customer identity and financial assets.”

Related topics:  Virus, Worm, Email security, spyware and malware 

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