The new transaction monitoring system, supplied by the EMC Corp.-owned RSA Security Inc., scans online activity in real time to track fraud indicators and generate a "risk score" for each transaction. Customers are then authenticated by the system.

According to RSA, the software works transparently and Adelaide Bank customers should only see it become more involved in the transaction if there are indicators that it is fraudulent.

Adelaide Bank chief information officer John van Ruth said both customers and partners rely on the bank to protect their financial assets and individual identities, so it wanted to ensure there are no uncertainty or security concerns when using online banking.

"[This] is why we have gone to considerable lengths to make the user experience friendly and secure," van Ruth said. "By working with RSA we are continuing our efforts in working behind the scenes to ensure online security."

The deal makes Adelaide Bank the first local bank and financial institution to become part of the RSA-led global eFraudNetwork community.