News
July 13, 2010
NBT Bancorp Implements Memento Security as Core Solution for Detecting and Managing Enterprise Fraud
Memento Inc., a leader in enterprise fraud management solutions for financial institutions, today announced that NBT Bancorp Inc., (NBT) has implemented Memento Security™ as its core platform for combating fraud and financial crime. NBT relies on Memento Security to tackle the critical business issue of fraud, including check fraud, employee fraud, account takeover, AML/BSA compliance, and emerging fraud risks.
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June 15, 2010
Educational Employees Credit Union Selects Memento Security for Enterprise Fraud Management
Memento Inc., a leader in enterprise fraud management solutions for financial institutions, today announced that Educational Employees Credit Union (EECU) has selected Memento Security™ as its enterprise-wide platform to fight fraud and other financial crimes. After a thorough evaluation process, EECU chose the Memento platform for its advanced analytics, ease of deployment, and ability to detect a wide range of fraud types.
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May 21, 2010
Mountain America Credit Union Implements Memento Security for Deposit Account Fraud
Memento Inc., announced that Mountain America Credit Union (MACU) has implemented the Memento Security™ platform to combat deposit account fraud and improve compliance operations. The MACU Fraud Risk Management team has reduced false positive rates by as much as 90% while increasing fraud detection by using a powerful combination of advanced analytics, cross-channel monitoring, and sophisticated account profiling.
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April 30, 2010
Memento Reports Record Customer Acquisition in Q1, 2010
Memento announced record customer acquisition in Q1, 2010, as more organizations recognize the value and importance of reducing fraud. The rapid pace of innovation at Memento continues with a range of recent enhancements to the Memento Security™ platform.
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November 4, 2009
Book Underscores Employee Fraud Risk
"Somewhere, a disgruntled, stressed-out employee is sitting in a break room, beneath the fluorescent lights, thinking up a new fraud scheme right now." That’s the warning from Insidious, a book by Shirley Inscoe and B.C.
Krishna that explores why trusted employees at financial institutions steal millions and why it’s so hard to stop them. Read the full story in the Credit Union Times.
March 25, 2009
The Inside Threat in Bank Fraud
"Infiltration of banks by fraud rings is on the rise, posing the potential for higher losses for both institutions and customers, according to Shirley Inscoe, director of financial services solutions
at Concord, Mass.-based Memento, Inc." Read the full story in BAI Banking Strategies.
March 6, 2009
Fraud Detection Firm Memento Grows in Tight Economy
The less money you have, the more you have to do to keep thieves from grabbing it. That appears to be the lesson from Memento Inc., which has seen its business grow as the economy tightens and
its banking customers consolidate and shrink. The Concord-based fraud detection software company reports 140 percent revenue growth in 2008, and now counts six of the top 15 U.S. banks as customers. Read the full story.
November 3, 2008
Bank Technology News: Memento Named Top Innovator of 2008
Each year, Bank Technology News releases its list of Innovators - 25 people, companies and technologies that "represent the most progressive
thinking in financial services." More than 200 companies were considered for the 2008 ranking, and Memento is proud to be among those named
to The Innovators 2008. The full story, and the complete list of 2008 Innovators is featured in the November 2008 issue of Bank Technology News,
and can be viewed at http://www.banktechnews.com.
August 1, 2008
Credit Union Magazine: Insider Fraud and Your CU
Michael Mulholland, Director of Fraud Solutions Strategy at Memento, writes about the challenges credit unions face in their fight
against internal fraud. Read about the types of fraud perpetrated by insiders, the impact incidents have on credit unions, and the
benefits of proactively monitoring for suspicious and fraudulent activities. Read the article.
June 9, 2008
Memento and Fair Isaac Announce Strategic Partnership
Memento announces a strategic partnership with Fair Isaac to combat the growing problem of internal fraud. Fair Isaac has a long history of providing leading fraud solutions to the financial services industry, and will now be offering Memento Security through its worldwide sales network.
Read the press coverage:
- Mass High Tech: Memento, Fair Isaac Team Up on Financial Firm Security
- Computer Business Review: Fair Isaac and Memento Develop Fraud-Management Platform
- Cardline: Fair Isaac Adds Tool to Fight Internal Fraud
June 11, 2008
MSNBC.com: Memento, Inc. Recognized as One of the Area's “Best Places to Work” by the Boston Business Journal
Learn about the categories employees were asked to consider when ranking Memento as an employer. Read more.
February 12, 2008
Bank Info Security: Mike Mulholand on ACH Fraud — Strategies to Fight Back
Hear about new strategies for fighting ACH fraud in this podcast from Memento Director of Fraud Solutions Strategy Mike Mulholand. Listen to the podcast.
February 5, 2008
Payments News: Memento Helps Protect Banks from Emerging ACH Fraud Threats
Get details about Memento’s announcement of a powerful solution to address the escalating ACH fraud problem. Read the article.
January 30, 2008
BusinessWeek: The Lesson of Societe Generale
Find out how sophisticated monitoring could have detected this record-setting fraud. Read the article.
Press Releases
July 13, 2010
NBT Bancorp Implements Memento Security as Core Solution for Detecting and Managing Enterprise Fraud
Memento Inc., a leader in enterprise fraud management solutions for financial institutions, today announced that NBT Bancorp Inc., (NBT) has implemented Memento Security™ as its core platform for combating fraud and financial crime. Fraud doesn't have to be a cost of doing business anymore. We help increase efficiency and drive profitability—all by protecting organizations, their deposit accounts, and customers from preventable losses.
Read more
June 15, 2010
Educational Employees Credit Union Selects Memento Security for Enterprise Fraud Management
Memento Inc., a leader in enterprise fraud management solutions for financial institutions, today announced that Educational Employees Credit Union (EECU) has selected Memento Security™ as its enterprise-wide platform to fight fraud and other financial crimes. The evaluation process demonstrated Memento's ability to accurately detect fraud, substantially reduce false positives relative to existing methods, and enable analysts to quickly and efficiently research alerts and disposition potential fraud cases.
Read the announcement.
May 21, 2010
Mountain America Credit Union Implements Memento Security for Deposit Account Fraud
Memento Inc., announced that Mountain America Credit Union (MACU) has implemented the Memento Security™ platform to combat deposit account fraud and improve compliance operations. By partnering with Memento, MACU has cut fraud losses in many areas and cites particular success reducing ATM and card fraud.
Read the announcement.
April 30, 2010
Memento Reports Record Customer Acquisition in Q1, 2010
Strong customer growth in Q1 2010, puts Memento on track to achieve its goal of committed annual recurring revenue growth of 50% in 2010. Memento also announced personnel additions and product enhancements that will enable the company to maximize growth opportunities and work with its customers to combat fraud in two key markets—banking and healthcare.
Read the announcement.
December 7, 2009
New Check Fraud Prevention Solution Delivers Unprecedented Accuracy While Drastically Reducing Fraud Team Workload
Memento introduces Memento Security — Check Fraud, the banking industry’s most accurate and cost-effective check fraud prevention solution.
The next generation solution enables banks to save significant financial and human resources by combining increased fraud detection efficiency
with fast, accurate decision-making abilities.
Read the announcement.
October 13, 2009
New Book Explores the Surprising Truth Behind Insider Bank Fraud
Memento Press today announced the availability of Insidious — How Trusted Employees Steal Millions and Why It’s So Hard for Banks to Stop Them, a new book that provides insight into a critical problem
plaguing banks today: employee fraud. Authors Shirley Inscoe and BC Krishna provide a uniquely informed and objective perspective on this perennial, deeply damaging and growing problem.
Read the announcement.
September 9, 2009
Memento Extends Enterprise Fraud Management Platform With High Performance, Real-Time Fraud Detection
Ground breaking approach adds high performance, low latency, real-time fraud detection to a range of fraud scenarios where fraudulent transactions
and other inappropriate events are required to be blocked "in flight" to avoid risk and limit loss.
Read the announcement.
April 14, 2009
Memento Launches Enhanced Investigative Case Management Solution
Innovative enterprise solution helps financial institutions investigate cases quickly and detect interconnected fraud accurately.
Read the announcement.
March 24, 2009
Memento Launches Bank Fraud Forum Blog
Noted fraud management experts share insights, opinions and best practices in first blog focused exclusively on bank fraud.
Read the announcement.
January 13, 2009
Memento Reports Record-Breaking Results in 2008
Enterprise fraud management leader charts 140% top-line growth, acquires new banking customers, and addresses critical emerging fraud challenges worldwide.
Read the announcement.
December 15, 2008
Scotiabank Reinforces Customer Security with Memento, Inc. Offerings
Memento announces that Scotiabank has signed an agreement to further reinforce customer security and privacy at the Bank with Memento Security.
Read the announcement.
November 4, 2008
Bank Technology News Names Memento a Top Innovator of 2008
Memento Security recognized for its next-generation data management and fraud detection capabilities.
Read the announcement.
November 3, 2008
Gruppo UBI Banca Selects Memento to Reinforce Its Commitment to Detecting and Preventing Fraud
Leading Italian financial institution identifies and prevents fraud using Memento Security.
Read the announcement.
October 20, 2008
Memento and IBM Join Forces to Help Financial Institutions Fight Fraud
Next-generation solutions will help prevent cross-channel fraud linked to stolen and synthetic identities.
Read the announcement.
October 16, 2008
Guaranty Bank Selects Memento for Enterprise Fraud Management
Growing corporate and consumer finanical institution chooses Memento's innovative fraud management solution to protect customer deposit accounts.
Read the announcement.
October 14, 2008
Memento Launches Next-Generation Solution for New Account Fraud
Memento announces a cross channel, context-aware solution to detect, stop, and investigate
the widespread, growing problem of fraud on new deposit accounts. Read the announcement.
September 10, 2008
Top Analyst Firm Rates Memento "Excellent" in New Enterprise Fraud Management Report
Report identifies five critical capabilities as key criteria for technology acquisition decisions. Read the press release.
June 11, 2008
Memento Recognized as One of the Area’s “Best Places to Work” by the Boston Business Journal
This year’s top ranking firms were chosen from 375 nominations—a record number of submissions in the six-year history of the “Best Places to Work.” Read more.
June 9, 2008
Memento Partners with Fair Isaac
Memento announces a strategic partnership with Fair Isaac, a leader in Enterprise Decision Management, to address the complexity of stopping insider fraud. Read the announcement.
February 5, 2008
Fraud Prevention Experts Shirley Inscoe and Mike Mulholand Join Memento
At the BAI TransPay Conference & Expo, Memento announces hiring of two of the fraud prevention industry’s most knowledgeable and respected experts. Read more.
February 5, 2008
Memento Introduces Solution to Address Escalating Automated Clearing House (ACH) Fraud
Memento announces a powerful, effective solution for addressing the emerging, complex challenge of detecting and stopping fraudulent ACH transactions. Read more.
October 22, 2007
Memento Introduces New Version of Fastest, Most Accurate Fraud Detection and Compliance Solution
Next-Generation Solution Helps Top Financial Institutions Transform Fraud Detection Read more.
July 3, 2007
Memento Chosen For Innovative Technology And Approach
5 of top 15 North American Banks Select Memento Security as Fraud and Compliance Platform. Read more.
April 17, 2007
Memento, Inc. Completes $7.5 Million Financing to Fuel Growth
.406 Ventures leads funding, cites internal fraud management pioneer’s strong management, significant market traction, and unique solution. Read more.
March 20, 2006
Maria Cirino Joins Memento Board of Directors
Technology visionary and leader from VeriSign, Guardent, and Shiva brings wide-ranging strengths to internal fraud management pioneer. Read more.