Bottomline Pockets a Win for Preventing Insider Fraud
LONDON, UK (30 November 2022) – Bottomline Technologies, a leading provider of financial technology that makes business payments and financial messaging simple, smart and secure, is pleased to report that it won, for the second year running, the Invisible Security category at one of the industry’s leading financial technology award ceremonies in London last night.
Celebrating fintech’s biggest ‘WOW’ moments across financial services, paytech and insuretech, The Fintech Finance Awards acknowledged Bottomline’s Insider Fraud solution as the winner in this year’s Invisible Security category, aimed at vendors who provide exceptional security solutions but with minimal footprint and fanfare while keeping details stealthily safe.
Bottomline’s purpose-built insider fraud solution helps financial institutions and corporates create the best defence against fraud committed by internal ‘bad actors'. Working in a non-invasive manner, the invisible security of its solution captures all user behaviour in real-time, protecting against external and internal threats and intentional and unintentional data leakage.
“Operating in an ever-changing threat landscape and with hybrid and remote working environments here to stay, insider fraud and external collusion remain a hot topic in boardroom discussions globally,” said Omri Kletter, Global VP, Fraud and Financial Crime, Bottomline. “This, together with today’s economic challenges and the rise in the cost of living, have put even more pressure on people to stay afloat financially.”
This year’s Fraudscape report from CIFAS explicitly flags an increasing concern about “the rise in insider threat as a service”, i.e., where employees are actively being recruited through social media by fraud rings to carry out internal fraud through data leakage and financial theft.
Kletter concluded, “This win illustrates how important the industry believes it is for banks and businesses to act. Once deemed unnecessary, safeguarding against those least-suspected and most-trusted is no longer a nice-to-have but a must-have.”
Bottomline’s Insider Employee Fraud solution won the category based on a public vote via Fintech Finance’s subscriber base.
About Bottomline Technologies
Bottomline makes business payments simple, smart and secure for businesses and financial institutions, of all sizes, all over the world. More than 10,000 corporate customers, 1,400 commercial and business banks, including 15 of the top 25 global banks, rely on our industry-recognized payment and software platforms to accelerate digital transformation in a complex world of business payments and financial management. Bottomline solutions touch customers and payments in 92 countries across six continents. Our teams serve the world from primary locations in the United States, the United Kingdom, Switzerland, Israel, India, Australia and Singapore. Bottomline is a portfolio company of Thoma Bravo, a highly respected software-centric private equity firm with $122 billion in assets under management. For more information visit www.bottomline.com.