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Case Study

Wave Protects Small Businesses from Account Takeover Attacks

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Company

Wave is an award-winning financial management software company that provides solutions that empower small business owners to simplify their finances. Founded in 2010, Wave offers online bookkeeping, payment processing, payroll, accounting and invoicing services for small businesses. More than 500,000 customers around the world use Wave as their primary financial management solution.

- Matt Montreuil

Information Security Officer

“Before using Bot Defender, we had to manually respond to high levels of bot traffic that was not being caught by our previous solution. After implementing Bot Defender, we were very excited to see immediate results. In the first two weeks of using HUMAN Bot Defender 6.6 million page views were protected and 912,000 malicious page views were blocked.”

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Challenge

Due to the sensitive nature of the customer data they process, Wave anticipated a high volume of account takeover (ATO) attacks. The company implemented a bot management solution to combat this threat, but web traffic behavior indicated a high volume of credential stuffing attacks and fake account creation. 

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Solution

Wave’s initial bot management solution wasn’t working, so they switched to HUMAN Bot Defender. The solution has the following benefits:

  • Prevents fake account creation: Bot Defender detects fake account creation attempts in real time, automatically blocking bots from registering, while performing automated analysis for continuously updated protection.
  • Mitigates ATO attacks: Bot Defender uses machine learning, behavioral analysis and predictive methods to detect malicious behavior on websites in real time, stopping the most advanced account takeover attacks.
  • Provides detailed reporting: Bot Defender offers rich analytics, including customizable dashboards that provide Wave with actionable insights that helps them to investigate incidents faster and more effectively.
  • Ensures low latency: Bot Defender blocks bots at the edge, improving website performance and preserving user experience.

RESULTS

In the first two weeks following deployment, Bot Defender protected 6.6 million page views and blocked 912,000 malicious page views. The solution stopped bots from gaining unauthorized access to users’ accounts and decreased the amount of time Wave spent each week investigating attacks that their previous bot management solution had missed.
 
The Bot Defender Portal allowed Wave to see real-time attack data. The team could easily gain insights from the dashboard to use during weekly security reviews. All in all, Wave was able to protect customer accounts, improve operational efficiency and preserve their brand reputation.

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