The Problem for Financial Services: Email Fraud
Email is the primary form of customer communication and business correspondence for financial institutions, and an essential transactional, service and marketing component of online services.
Today, a large and sophisticated criminal industry has grown to exploit security gaps in email to gather data from end-users and gain access to financial accounts. This “phishing” activity produces over $10 billion per year in direct losses for financial institutions and their customers in the United States.
Phishing erodes confidence in online services, threatening the most cost-effective, efficient and direct method of doing business with customers online. This erosion in confidence extends across online interactions to create mistrust of any online services that involve financial and personal information.
eCert is the Solution for Financial InstitutionsEmail phishing threatens the online channel, financial institutions’ brands and customers’ relationships with their financial services providers. Now, there is an answer to this costly problem. eCert Establishes Identity & Trust for Financial Institution Email | |
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eCert is the first company to offer email domain clearinghouse services for the financial industry, and existing customers include several of the largest institutions in the United States. |
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This clearinghouse enables financial companies to register their domains to establish identity, protection and monitoring for their traffic. Now, financial services business executives can have visibility into email traffic purporting to be from the institution, protect their customers from major forms of phishing and improve trust for their emails, online interactions and brands. |
eCert is Designed for Financial Services Requirements |
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eCert supports a standards-based approach that leverages and advances financial industry guidelines and best practices. eCert’s EPIC™ (Email Protection Identity Cert) Service is based on the guidelines detailed in the BITS Email Security Toolkit. |
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Leveraging input from its financial industry advisors, ISP partners and customers, eCert helped to author the Email Sender Authentication Deployment: Best Practices and Considerations for Financial Institutions (Jun 2009) to help financial companies effectively deploy authentication for their email traffic. |
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With origins in the financial industry and a strategic focus on supporting the complex needs of financial services companies, eCert’s tools, operations and business processes are designed to support the needs of the largest financial institutions, and its relationships with industry partners are designed to support effective integration into the enterprise security ecosystem and use by institutions of all sizes. |
