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Techday NZ
22-04-2025
- Business
- Techday NZ
AvePoint unveils security upgrades for Elements Platform to aid MSPs
AvePoint has introduced new data security and management features to its Elements Platform aimed at supporting managed service providers (MSPs). The latest developments follow AvePoint's acquisition of Ydentic and the rollout of its next-generation Elements Platform earlier in 2025. The managed security services sector is estimated to reach USD $56.6 billion by 2027, with more than 80% of MSPs currently offering managed detection and response services. Almost all providers are planning to expand their portfolios with additional security services. AvePoint's updates are designed to help MSPs secure client data and introduce new service lines as the demand for managed security grows. Scott Sacket, Senior Vice President of Partner Strategy at AvePoint, said, "As technology advances and security challenges intensify, MSPs face increasing pressure to scale operations, enhance security, and unlock new revenue streams. The newest additions to the AvePoint Elements Platform give MSPs and channel partners the edge they need to drive business growth and augment their service offerings – by securing, managing, and protecting clients' critical business data." Two features are now available on the AvePoint Elements Platform: enhancements for user lifecycle management and unified device management and security. The update introduces User Lifecycle Management capabilities that automate tasks related to user provisioning and management. MSPs can enforce Multi-Factor Authentication, revoke active user sessions, and manage user access securely and efficiently across client environments. AvePoint's platform leverages intelligent automation and centralised controls to help MSPs reduce administrative workload, improve operational efficiency, and maintain security standards, which the company states are expected to provide both efficiency and profitability improvements for service providers. The second feature, Device Management capabilities, enables central management of devices across multiple clients, reducing the need for routine manual intervention. The system can automate processes like setting compliance policies, deploying applications, and enforcing security protocols such as remote device wipes, security scans, and policy synchronisation. According to AvePoint, these tools help MSPs maintain security while allowing their services to scale according to demand. Heather Deggans, Vice President ISV Partnerships at Microsoft, commented, "AvePoint continues to develop solutions purpose-built for partners that benefit everyone who uses Microsoft technology. "With the latest enhancements to the AvePoint Elements Platform, partners can deliver more intelligent and proactive data security, governance and management strategies to their customers. This level of automation and efficiency in one single solution allows users to forge more effective and resilient digital workplaces and make the most of their Microsoft investments." AvePoint reports that its global partner programme, which includes approximately 5,000 MSPs, value-added resellers, and systems integrators, is designed to equip partners with technologies suitable for a variety of collaboration environments, including Microsoft, Google, and Salesforce platforms.
Globe and Mail
09-04-2025
- Business
- Globe and Mail
Surge in Cyber Threats Accelerates Demand for Account Takeover Prevention in Banking Market – Industry Revenue is Set to Surge by $1.60 Billion by 2030
"ATO Prevention in Banking Market Research Report by Arizton" According to Arizton's latest research report, account takeover prevention in banking market is growing at a CAGR of 9.01% during 2024-2030. Report Scope: Market Size (2030): $1.60 Billion Market Size (2024): $935.98 Million CAGR (2024-2030): 9.01% Historic Year: 2021-2023 Base Year: 2024 Forecast Year: 2025-2030 Market Segmentation: Service Type, Development Type, and Geography Geographical Analysis: North America, Europe, APAC, Latin America, and Middle East & Africa Account Takeover (ATO) fraud is a major threat in online banking, where cybercriminals gain access through stolen credentials, phishing, or malware. To combat this, banks invest in advanced ATO prevention technologies while balancing security with user experience. Measures like Multi-Factor Authentication (MFA) and CAPTCHA reduce fraud but can create customer friction. AI-based behavioral authentication and risk-based security are employed to mitigate these challenges, while fintech platforms and digital wallets increase the attack surface. Banks use AI-powered fraud detection to monitor login habits, transaction patterns, and biometrics, with behavioral biometrics like keystroke dynamics helping identify fraudulent activities. The ATO prevention market in banking is rapidly growing due to increased electronic transactions and more sophisticated hackers. Traditional password-based security is ineffective against phishing and credential stuffing, prompting banks to adopt FIDO2-based authentication, biometric methods, and passwordless solutions. Risk-based authentication (RBA) ensures minimal inconvenience for genuine users while blocking attackers. Dark web monitoring tools help detect compromised credentials, while liveness detection and AI-driven identity verification counter deepfakes and synthetic identities. Rising consumer awareness of cyber threats like ATO fraud, driven by data breaches and phishing attacks, is pushing banks to invest in advanced fraud prevention solutions that balance security and user experience. Recent Vendor Activities On September 12, 2024, Mastercard announced an agreement to acquire global threat intelligence company Recorded Future from Insight Partners for $2.65 billion. This acquisition enhances Mastercard's cybersecurity capabilities, strengthening the insights and intelligence used to protect the digital economy, including the payments ecosystem and beyond. On December 4, 2023, Thales announced the successful completion of its acquisition of Imperva. This transaction is expected to create substantial value for Thales' shareholders. Pre-Transaction Service Type Gaining Momentum Pre-transaction prevention measures are essential for blocking ATO fraud before transactions occur, using technologies like MFA, RBA, identity verification, device fingerprinting, and PAM. ATO attacks have surged due to data breaches and credential stuffing, with cybercriminals using stolen credentials from the dark web to target accounts. Banks are adopting AI-powered solutions like MFA, behavioral biometrics, and RBA to thwart automated bot-based attacks and ensure secure login. Cloud-based fraud detection allows real-time monitoring of transactions. Regulatory frameworks such as PSD2, CCPA, and FFIEC require strong customer authentication, driving demand for AI-driven identity verification and biometric authentication in the banking sector. Competitive Landscape and Future Trends in ATO Prevention for Banking The ATO prevention market in banking is highly competitive, with vendors differentiating themselves through technological innovation, comprehensive offerings, and strategic partnerships. Established cybersecurity companies dominate the market, making it challenging for new entrants to stand out. Banks prefer long-term relationships with reputable suppliers, further hindering new competitors. The market is also at risk from low-cost, low-quality security solutions that fail to provide adequate fraud detection. Moving forward, the future of ATO prevention will focus on security-driven, friction-reducing, and accurate fraud detection technologies. This includes the shift away from passwords and OTPs toward behavioral biometrics, AI/ML, and frictionless authentication methods. Key Vendors Datavisor Entrust Experian Kount LexisNexis Risk Solutions Ping Identity Accertify Arkose Labs BioCatch Bureau Combate a Fraude (Caf) Callsign Entersekt Feedzai Human Imperva Mastercard Outseer Prove Identity Socure SpyCloud Telesign Transmit Security TransUnion Segmentation & Forecasts Service Type Pre-Transaction During-Transaction Post-Transaction Deployment Type Cloud-Based On-Premise Geography North America US Canada Europe UK Germany France Italy APAC China India Australia Japan Latin America Brazil Mexico Middle East & Africa Turkey Saudi Arabia The Arizton Advisory & Intelligence market research report provides valuable market insights for industry stakeholders, investors, researchers, consultants, and business strategists aiming to gain a thorough understanding of the ATO prevention in banking market. Request for Free Sample to get a glance of the report now: What Key Findings Will Our Research Analysis Reveal? What is the expected growth of the global ATO prevention in banking market? What is the growth rate of the global ATO prevention in banking market? What are the factors driving global ATO prevention in banking market growth? Which region will have the highest CAGR in the global ATO prevention in banking market? Who are the major players in the global ATO prevention in banking market? Generative AI in Software Development Market - Global Outlook & Forecast 2025 - 2030 Financial Wellness Benefits Market in the United States - Research Report 2020-2029 Why Arizton? 100% Customer Satisfaction 24x7 availability – we are always there when you need us 200+ Fortune 500 Companies trust Arizton's report 80% of our reports are exclusive and first in the industry 100% more data and analysis 1500+ reports published till date Post-Purchase Benefit 1hr of free analyst discussion 10% off on customization About Us: Arizton Advisory and Intelligence is an innovative and quality-driven firm that offers cutting-edge research solutions to clients worldwide. We excel in providing comprehensive market intelligence reports and advisory and consulting services. 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