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Norway's Largest Financial Services Organization Selects Entrust Zero-Touch Fraud Detection Solution
DnB NOR known for strong security, strengthens commitment to protect customers
Jul 29, 2008
DALLAS, July 29 /PRNewswire-FirstCall/ -- DnB NOR, the largest financial institution in Norway, is one of the region's few financial services organizations that has not suffered significant loss from identity theft or related fraud. To elevate that standard, prevent fraud and protect the identities of customers online, DnB NOR aligned their comprehensive security strategy with Entrust, Inc. (NASDAQ: ENTU) and the zero-touch fraud detection component of the Entrust Risk-based Authentication Solution.
"Our organization's goal was to implement a seamless fraud detection strategy that wouldn't require invasive integration with back-end applications -- this solution enabled us to do just that," said Sofie Nystrom, Chief Information Security Officer at DnB NOR. "The fact that we could keep all of our data in-house -- versus shipping it offsite -- was an important capability. This initiative perfectly aligns with our strong commitment to online security for our customers."
As key components of the Entrust Risk-based Authentication Solution, DnB NOR will leverage the real-time fraud detection and historical analysis capabilities of Entrust. These tools, coupled with critical data from the Entrust Open Fraud Intelligence Network (OFIN), help protect consumer online transactions from fraud. These capabilities enable organizations to collect data to help identify current and future potential fraud attacks before they happen -- all in real-time.
With total assets of more than $308 billion (USD), DnB NOR serves more than 2.5 million customers worldwide. The bank will leverage the Entrust solution -- for more than 1.7 million users -- to protect private-, corporate- and consumer-banking customers online.
"As one of the largest financial services groups in the Nordic region, DnB NOR had a high security standard for their customers, shareholders and brand image," said Entrust Chairman, President and Chief Executive Officer Bill Conner. "The zero-touch fraud detection capability not only helps meet their current security objectives, but allows them to study key fraud data to help prevent fraud attacks in the future and potentially address them before they even occur. This is a proactive strategy for a financial institution already known for stringent, yet non-invasive, security solutions and policies."
The Entrust Open Fraud Intelligence Network is an information-sharing service designed to help combat online fraud by consolidating and sharing key fraud behavior patterns and data among network participants. It is focused on providing participating members the latest fraud behaviors and tactics, as well as key data for helping to detect and combat fraud as it evolves. The Entrust Open Fraud Intelligence Network is a key component of Entrust's layered security architecture.
Established as Christiania Sparebank in 1822, DnB NOR [OSE: DNBNOR] is Norway's largest financial services group with total combined assets of more than $308 billion (USD). The group's current name stems from a 2003 merger between Den norske Bank (DnB) and Gjensidige NOR. Today, the group consists of strong brands such as DnB NOR, Vital, Nordlandsbanken, Cresco, Postbanken, DnB NORD and Carlson. Represented in more than 20 countries, DnB NOR services 2.3 million retail customers and 198,000 corporate accounts. The group also operates Norway's largest Internet banks -- dnbnor.no and postbanken.no -- by servicing more than 1.4 million users.
Entrust (NASDAQ: ENTU) secures digital identities and information for consumers, enterprises and governments in more than 1,700 organizations spanning 60 countries. Leveraging a layered security approach to address growing risks, Entrust solutions help secure the most common digital identity and information protection pain points in an organization. These include SSL, authentication, fraud detection, shared data protection and e-mail security. For information, call 888-690-2424, e-mail firstname.lastname@example.org or visit http://www.entrust.com/.
Entrust is a registered trademark of Entrust, Inc. in the United States and certain other countries. In Canada, Entrust is a registered trademark of Entrust Limited. All Entrust product names are trademarks or registered trademarks of Entrust, Inc. or Entrust Limited. All other company and product names are trademarks or registered trademarks of their respective owners.Photo: NewsCom: http://www.newscom.com/cgi-bin/prnh/20060720/NYTH074LOGO
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SOURCE: Entrust, Inc.
CONTACT: Brooke Hamilton, Media Relations of Entrust, Inc.,
Web site: http://www.entrust.com/