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Entrust Positioned as a ‘Leader’ in Leading Research Firm’s Fraud Detection Report
2009-02-08
Evaluation based on Entrust’s vision, ability to execute
DALLAS — February 9, 2009 — Entrust, Inc. [NASDAQ: ENTU], has
consistently been positioned as a visionary and innovator in the multifactor
authentication and fraud detection market. Today, Gartner Inc. recognized
Entrust as one of the “leaders” in the research firm’s 2009 Magic Quadrant for
Web Fraud Detection. [1]
“Effective fraud detection will always be necessary for companies whose
financial accounts are vulnerable to attack. Expect fraud attacks to increase in
the deteriorated economic environment,” said Gartner analyst Avivah Litan in the
firm’s November 2008 report, “Impact of Financial Crisis on Fraud Prevention
Markets.”
Gartner’s Magic Quadrant for Web Fraud Detection named Entrust as a leader based
on its “ability to execute” and the company’s “completeness of vision.”
“In addition to a 70 percent increase in customer growth rates and key customer
wins, this industry recognition, in my opinion, confirms that Entrust is a
leader in the fraud detection and multifactor authentication market,” said
Entrust President and CEO Bill Conner. “Large financial institutions and
security-conscious organizations across the world successfully thwart fraud with
cost-effective Entrust solutions; many more will continue to do so in 2009 and
beyond.”
According to Gartner, magic quadrant “leaders” are vendors who are performing
well today, have a clear vision of market direction and are actively building
competencies to sustain their leadership position in the market.
Global organizations continue to seek methods to help stop persistent fraud
attacks on invaluable information, customer identities and brand image.
According to the fourth annual “U.S. Cost of a Data Breach Study,” research
released in February 2009 by PGP and the Ponemon Institute, the average total
per-incident cost for a data breach in 2008 was $6.65 million. This represents
an increase of more than $300,000 per incident in 2007 and a 40 percent jump
since the study’s inception in 2005.
On Jan. 20., Heartland Payment Systems, a New Jersey-based credit card
processing company, announced in a news release that as many as 100 million
customer accounts may have been compromised after malicious software enabled a
security breach in the organization’s payment processing system. The breach,
which Heartland says it first discovered in October 2008, is yet another example
of organizations not implementing the proper security solutions that could help
prevent fraud before it occurs.
Entrust offers one of the most flexible, comprehensive fraud detection solutions
on the market today. By leveraging this cost-effective solution, organizations
not only will help reduce loss from fraud, but also instill confidence in their
customer base and increase overall brand image.
Entrust TransactionGuard transparently monitors user behavior to identify
anomalies, and then calculates the risk associated with a particular transaction
— all seamlessly and in real time. Unlike competitive offerings, Entrust
TransactionGuard can analyze all points of interaction with the user on the Web
site, allowing organizations to gain a complete picture of potentially
fraudulent behavior using built-in case management and reporting features.
Entrust TransactionGuard is a zero-touch solution that captures all the data in
a session and does not require integration with back-end applications. The
solution enables organizations to leverage both a statistical analysis and
rules-based approach to fraud detection, allowing the system to react quickly to
specific known types of fraud while also automatically learning about users and
automatically generating risk scores based on evolving behavior.
Entrust IdentityGuard enables organizations to layer security — according to
access requirements or the risk of a given transaction — across diverse users
and applications. The platform's authentication options include strong username
and password, IP-geolocation, device, questions and answers, out-of-band
one-time passcode (delivered via voice, SMS or e-mail), grid cards, eGrid cards
and a range of one-time-password tokens. Entrust IdentityGuard also provides
multiple methods of supporting mutual authentication, including picture and
caption replay.
Leading financial institutions, enterprises and government agencies have
deployed the platform, including DnB Nor, Expedia, Commerce Bank, Bank of New
Zealand, Banco Santander Santiago, Goteborg University, Ministry of Economic
Development of New Zealand, SCHUFA, Arbetsformedligen, Alaska Law Enforcement
Information Sharing System, Vejle Amt, Aristex, Swedish National Labor Market
Administration, Skanska and more.
About Entrust
Entrust [NASDAQ: ENTU] secures digital identities and information for consumers,
enterprises and governments in more than 2,000 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
entrust@entrust.com or visit
www.entrust.com.
About the Magic Quadrant
The Gartner Magic Quadrant is copyrighted February 6, 2009, by Gartner, Inc.,
and is reused with permission. The Magic Quadrant is a graphical representation
of a marketplace at and for a specific time period. It depicts Gartner’s
analysis of how certain vendors measure against criteria for that marketplace,
as defined by Gartner. Gartner does not endorse any vendor, product or service
depicted in the Magic Quadrant, and does not advise technology users to select
only those vendors placed in the “Leaders” quadrant. The Magic Quadrant is
intended solely as a research tool, and is not meant to be a specific guide to
action. Gartner disclaims all warranties, express or implied, with respect to
this research, including any warranties of merchantability or fitness for a
particular purpose.
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.
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