XTN Cognitive Security has been mentioned in the Aite-Novarica Group’s report Fraud in Commercial Banking: Keeping Pace With Attacks and Evolving Expectations as:
• 𝗖𝗼𝗺𝗺𝗲𝗿𝗰𝗶𝗮𝗹 𝗕𝗮𝗻𝗸𝗶𝗻𝗴 𝗧𝗿𝗮𝗻𝘀𝗮𝗰𝘁𝗶𝗼𝗻-𝗠𝗼𝗻𝗶𝘁𝗼𝗿𝗶𝗻𝗴 𝗥𝗶𝘀𝗸 𝗘𝗻𝗴𝗶𝗻𝗲𝘀 key vendor
• 𝗕𝗲𝗵𝗮𝘃𝗶𝗼𝗿𝗮𝗹 𝗕𝗶𝗼𝗺𝗲𝘁𝗿𝗶𝗰𝘀 key vendor
• 𝗗𝗲𝘃𝗶𝗰𝗲 𝗜𝗱𝗲𝗻𝘁𝗶𝘁𝘆 key vendor
• 𝗠𝗮𝗹𝘄𝗮𝗿𝗲 𝗗𝗲𝘁𝗲𝗰𝘁𝗶𝗼𝗻 key vendor
• 𝗕𝗼𝘁 𝗗𝗲𝘁𝗲𝗰𝘁𝗶𝗼𝗻/𝗖𝗿𝗲𝗱𝗲𝗻𝘁𝗶𝗮𝗹 𝗦𝘁𝘂𝗳𝗳𝗶𝗻𝗴 key vendor
The FBI estimates US$1.8 billion in business email compromise losses in 2020.
As frightening as the FBI’s estimate may be, most financial institutions interviewed for this report believe that statistic to be understated. The growing sophistication of attackers shows no sign of abating. At the same time, the imperative of appropriate friction and minimizing false positives, driven by customer expectations, will only continue to increase. The challenges facing fraud executives in commercial banking will not get easier anytime soon. As such, many firms are seeking to reevaluate and enhance their control frameworks for their business clients.