ATLANTA -- CheckFree Corporation (Nasdaq: CKFR) announced today that it will deploy risk-based authentication technology from RSA, The Security Division of EMC, as part of its ongoing initiative to provide the most secure environment possible for consumers paying their bills online at financial websites.
CheckFree provides industry-leading electronic billing and payment services to millions of consumers through more than 2,000 financial institutions and other providers. For fiscal 2006, which ended June 30, 2006, CheckFree processed 1.13 billion transactions, representing 25 percent growth over the previous fiscal year.
CheckFree will implement RSAs risk-based authentication technology to provide financial institution and biller customers with additional layers of fraud detection and authentication security for their consumers accessing CheckFrees electronic billing and payment applications. CheckFree will run the RSA® authentication system with its own FraudNet offering, the worlds only fraud engine specifically designed to detect and prevent fraudulent electronic bill payment transactions. In addition, CheckFree will utilize the RSA® eFraudNetwork community, RSAs anti-fraud repository.
As a key component in CheckFrees Consumer Identity Protections Strategy, RSA provides strong user authentication that complements and extends our own fraud prevention and behind-the-scenes layered security controls, said Ed Sarama, vice president and chief security officer for CheckFree.