News

Bottomline acquires cyberfraud solutions provider Intellinx

Intellinx solutions monitor, replay, and analyze user behavior across multiple channels, and instantly flag and stop suspicious activity, the company says.

January 20, 2015

Bottomline Technologies, a provider of cloud-based payment, invoice, and digital banking solutions, is now offering comprehensive cyberfraud and risk management solutions as a result of the acquisition of Israel-based Intellinx Ltd.

Intellinx solutions noninvasively monitor, replay, and analyze user behavior across multiple channels, and instantly flag and stop suspicious activity, according to a press release.

The solutions create accountability by recording and analyzing each keystroke and screen view, reducing the risk of theft, information leakage, internal fraud, and payments fraud, as well as decreasing the cost of regulatory compliance.

Case management capabilities centralize risk management, speed investigations, and facilitate compliance with regulations pertaining to anti-money laundering and know your customer, the release said.

“We are extremely excited to combine with Intellinx," Bottomline President and CEO Rob Eberle said in the release. “Our customers have been asking us for solutions to help them combat cyber fraud and the Intellinx solution is unmatched in the market. Its ability to create a ‘digital surveillance camera’ delivers a critical and unique line of protection against cyber attacks and cyber fraud, with instant alerts, session replay, and full case management capabilities.”

In a 2014 report, the Association of Certified Fraud Examiners estimated annual global occupational fraud loss at $3.7 trillion, 78 percent of which was committed by employees. More than 80 million personal records in the U.S. were breached in 2014, as well.

The fraud detection and prevention market is estimated at $17 billion annually and is projected to grow to $35 billion by 2019, representing a compound annual growth rate of 20 percent, according to research by Gartner Consulting.