Silver Tail Systems Secures an Investment Deal from IQT
October 27, 2010
Silver Tail Systems, the leading provider of website fraud prevention, today announced a strategic investment and development agreement with In-Q-Tel (IQT), the not-for-profit, strategic investment firm that identifies innovative technology solutions to support the missions of the U.S. Intelligence Community. Silver Tail Systems enhances the online security of public sector infrastructure through behavior analytics.
Attacks from online criminals are becoming more sophisticated, probing for weaknesses in an organization’s online architecture and more frequently exploiting legitimate business logic or business logic flaws to gain illicit access or steal information. Silver Tail Systems provides third generation fraud prevention to defend websites against business logic abuse. Business logic abuse is a rising concern and extremely difficult to detect and stop. These hijack threats, velocity attacks and gaming schemes are costing companies billions of dollars per year in online fraud. Silver Tail Systems’ Forensics and Mitigation products use a new generation of behavior analytics, efficient investigation and real-time disruption to track suspicious behavior and divert the attempted intrusion, leaving legitimate users unaffected.
“Silver Tail Systems’ solution monitors website traffic and identifies anomalies in real-time. Their unique system creates models of what is normal traffic for a website’s population and uses that to identify threats,” said William Strecker, Executive Vice President of Architecture & Engineering and CTO at IQT. “Our strategic investment in Silver Tail Systems enables us to offer this powerful technology to our customers in the U.S. intelligence Community and further protect our Nation’s assets.”
“We are thrilled to be working with IQT to combat adversaries,” said Laura Mather, Ph.D., Founder and VP of Marketing at Silver Tail Systems. “Our mission has been to improve the security of websites and protecting government websites from adversaries only furthers that vision.”
About Silver Tail Systems
Silver Tail Systems is the leader in thwarting fraud in online banking and e-commerce companies. The company offers the industry’s most comprehensive suite of fraud detection and mitigation solutions, as well as a new cross-industry collaboration cybercrime “alert” system, which provides financial institutions and e-commerce companies unprecedented fraud protection and helps them stay ahead of today’s sophisticated criminals. Serving some of the world’s largest financial institutions and e-commerce companies, Silver Tail Systems’ award-winning solutions are made possible by the unmatched expertise of its management and technology teams, who bring deep experience, know-how and personal commitment to protect their customers’ businesses against online fraud.