Addison Avenue Federal Credit Union

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Fueled by the Federal Financial Institutions Examination Council’s (FFIEC) “Authentication in an Internet Banking Environment” guidelines for online multi-factor authentication. Addison Avenue deployed VeriSign Identity Protection Fraud Detection Services. With the success of being able to detect and stop fraudsters, the credit union has expanded its Online Banking services—making it one of the top-ranked institutions of its type in the U.S.

We are very pleased with VIP Fraud Detection Services. It not only enabled us to meet the requirements for FFIEC compliance, but it has gone on to give us confidence to introduce new innovative Online Banking solutions that keep us ranked as one of the top credit unions in America.

Blanca Guerrero,
Director, Web Solutions Group,
Addison Avenue

Challenges

• Addison Avenue needed to meet the FFIEC’s “Authentication in an Internet Banking Environment” guidance by the end of 2006.
• The new security solution needed to be unobtrusive to members.
• Addison Avenue also wanted the ability to monitor and detect account activity that could be fraudulent or involved in money laundering.

Solution

• VeriSign® Identity Protection Fraud Detection Services (FDS)
• VeriSign® Professional Services

Results

• Addison Avenue was compliant with the FFIEC’s Authentication in an Internet Banking Environment guidance in 2006.
• VIP FDS was implemented with no member-service interruptions or interventions.
• Addison Avenue has visibility into fraudulent activities and tools to protect its members.
• The credit union has been able to introduce more complex Online Banking services because of the protection afforded by VIP FDS.