Melbourne, Australia
Fraud Management Technologies (FMT) today announced it has pioneered a new way for organisations to easily mitigate online risks associated with Service-Oriented Architecture (SOA) and Web Services applications.
Similar to websites, SOA and Web Services-based architectures providing e-commerce and B2B transactions over the Internet have a high risk of falling victim to malicious attacks designed to damage business.
Examples of risks include industrial espionage through price mining, losses through false order placements and account takeover.
In a world first, FMT Octopus can flexibly monitor transactions parsing through SOA and Web Services-based applications by identifying suspicious activity in real time with a front-end preprocessing filter embedded in an application server.
"Monitoring risky transactions from unauthorised users is a critical security requirement for all organisations with an online SOA infrastructure," says Ray Wagner, managing vice president of information security and privacy at Gartner. "While firewalls and intrusion detection systems play a role, it's crucial companies also monitor the actual transactions as they traverse enterprise systems."
"In the past, organisations monitored only IT infrastructure - not transactional - SOA risks," says FMT CEO Kostas Siourthas. "Using E-Application Intelligence, FMT Octopus enables companies to stop fraudulent activities before they become a cost or reputation loss."
Using front-end technology that installs in as little as two hours, FMT Octopus innovatively monitors SOA and Web Services online activities, allowing authorised users to more safely connect and share information in real time.
With FMT Octopus, the complexity of incoming XML information is eliminated since the software automatically simplifies the way it is presented for analysis.
Basically, SOA comprises building blocks of business processes. When these processes are broken down into modules they become extremely adaptable to more flexibly and effectively communicate information.
FMT Octopus enables companies to do this more securely to better manage Internet threats. With greater operational control and agility, companies can automatically manage risks across multiple business processes.
About FMT
FMT was founded in 2002 to help organisations contain risks associated with online financial transactions. The company's real-time, easily installed, front-end products prevent fraudulent activity and mitigate risk through predetermined strategies designed to be non-customer intrusive. For more information, visit www.fmtworldwide.com or contact Susan Roth on +61 420 974 762.
Source: Business Wire (Business Wire India)