International. HID Global recently announced that it has signed a collaboration agreement with ThreatMark, a technology company to detect threats and fraud, to develop new capabilities that improve the ability of financial institutions to detect cyber threats, such as malware, ransomware, application hacking, fraudulent electronic messages and fraudulent transactions.
HID's expertise in Identity and Access Management (IAM) solutions includes multi-factor authentication, credential management system software, and identity verification capabilities in complex environments. HID's capabilities complement ThreatMark's expertise in cybercrime detection and fraud prevention. The two companies will work together to expand threat and fraud detection to address the ever-increasing risk of cyberattacks.
"In the face of the constant evolution of cyber threats, HID Global is committed to advancing and expanding our threat detection capabilities," said Martin Ladstaetter, vice president of products for IAM solutions at HID Global. "Working with ThreatMark not only means partnering with a very successful company with industry experience, but it also allows us to more broadly visualize the landscape of potential security vulnerabilities that need to be addressed, making sure we stay one step ahead of current and future cyber threats."
"Collaborating with HID gives ThreatMark the opportunity to merge the expertise of both companies to enhance the overall security ecosystem through threat and fraud detection," said Michal Tresner, CEO of ThreatMark. "ThreatMark has distinguished itself by offering innovative technology, advanced analytics, and a deep understanding of how cybercrime detection works. Collaborating with companies like HID Global allows us to expand our reach and develop better integrated solutions."
HID Global offers the broadest range of market-leading IAM solutions, as it is the only company that can truly offer a converged physical and logical identity management solution for enhanced security and multi-factor authentication. The integration of ThreatMark's solution with HID Global's portfolio to protect both consumer and employee transactions in the banking and financial sectors will greatly improve security and allow us to deliver a seamless experience to users, something that is of great importance to the banking industry.
