Science-based solutions for payment authentication and account monitoring serving 6,000 institutions worldwide with 20 billion transactions annually
RSA Security LLC (“RSA” or the “Company”) today announced the transition of its Risk and Fraud Intelligence unit to a new independent company serving a global community of customers and partners.
The new organization, Outseer, is led by CEO Reed Taussig, who joined RSA’s Fraud and Risk Intelligence unit in late 2020 and is a veteran of the fraud prevention and digital identity industry.
With this strategic transition defined by self-managed business management and modern corporate identity, Outseer will continue to offer all traditional products in a newly formed portfolio:
Outseer 3-D Secure ™ – (formerly RSA Adaptive Authentication for eCommerce) the gold standard in authenticating digital and card-not-present payments that conforms to the latest EMV® 3-D Secure protocol.
Outseer FraudAction ™ – (formerly RSA FraudAction) provides rapid detection, removal, and reporting of data related to phishing sites, fake apps, and scam social media pages.
Together, these award-winning offerings serve as a benchmark for payment authentication, compromised account fraud detection, and fraud investigations, while maintaining a frictionless customer experience for the world’s leading businesses, issuing banks, and payment providers.
Outseer’s product portfolio is built on two major investments in data and science:
“Outseer is the result of decades of science-driven innovation in anti-fraud and payment authentication solutions,” said Taussig. “As the digital economy continues to deepen, Outseer’s mission to rid the world of transactional fraud is critical. Our role as revenue enablers for the global economy will only take hold as all digital businesses continue to grow.” .
This movement follows the COVID-19 pandemic, which fueled unprecedented growth in trade and compressed a decade of transformation into 12 months. Payment card schemes, issuing banks, and merchant providers have all witnessed unprecedented fraudulent transactions and even organized attacks on their payment networks.
To meet these new challenges, Outseer will continue to innovate its payment authentication offerings, adhering to the EMV® 3-D Secure 2.x protocol and incorporating new technology integrations throughout the commerce and payments ecosystem.
“The reason for Outseer’s existence is not just about eliminating payments and account fraud,” Taussig said. “These fraudulent transactions are often the pretext for other more sinister behaviors, such as drug and human trafficking, terrorism and other nefarious behaviors. Outseer has the ability to help make the world a safer place.”
RSA, founded in 1982, has built a reputation over four decades for providing critical solutions to customers exposed to security risks and for being a leader in innovation that enables companies to address rapidly evolving risks and security threats. RSA currently serves 2 billion individual users and manages 26 million identities, and more than 12,500 customers rely on its software solutions to enable their digital transformation, address increasingly advanced cyber threats, and adapt to standards. more complex digital devices.
In 2020, RSA announced that it had begun operating as an independent company through its acquisition by Symphony Technology Group, which valued the company at $ 2.1 billion.
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Outseer enables the digital economy to grow by authenticating billions of transactions a year. Our account and payment monitoring solutions increase revenue and reduce customer friction for card-issuing banks, payment processors and businesses around the world. Leveraging the 20 billion annual transactions from 6,000 institutions around the world that contribute to Outseer’s data network, our identity-based science provides the highest fraud detection rates and offers the least intervention for customers in the industry. See what others can’t see on outseer.com.
RSA, a leading cybersecurity and risk management solutions company, provides organizations with the technology they need to address security, risk management and fraud prevention challenges in the digital age. RSA solutions are designed to effectively detect and respond to advanced attacks, manage user access control, and reduce risk, fraud, and cybercrime in operations. RSA protects millions of users around the world and helps more than 90% of Fortune 100 companies constantly progress and adapt to transformational change.
View the original version at businesswire.com: https://www.businesswire.com/news/home/20210609005321/en/
Senior Director of Worldwide Communications