U.S.-based Stonebridge Bank and American Bank secure online banking customers
with RSA(R) Consumer Identity Protection solution
BEDFORD, Mass., June 20 /PRNewswire-FirstCall/ -- RSA Security Inc.
(Nasdaq: RSAS) today announced that Allentown, Pennsylvania-based American
Bank and West Chester, Pennsylvania-based Stonebridge Bank will offer their
online banking customers RSA SecurID(R) two-factor authentication technology
to deliver a more secure online user experience. These organizations join a
growing roster of leading consumer-facing institutions, such as America
Online, Banco de Credito e Inversiones (Chile), Credit Suisse, E*TRADE
Financial and Volkswagen Bank, in offering consumer identity protection based
on RSA SecurID two-factor authentication technology. A December 2004 report
by the Federal Deposit Insurance Corporation recommended financial
institutions consider "upgrading existing password-based single-factor
customer authentication systems to two-factor authentication."
A May 2005 survey of 8,200 consumers commissioned by RSA Security showed
that over 80 percent of respondents felt threatened by online identity theft
and online fraud. The survey, conducted by Lightspeed Research, also showed
that 80 percent of respondents would have more trust in their account provider
-- and greater confidence in transacting online -- if their provider offered a
hardware-based strong authentication solution. In addition, 44.5 percent of
those surveyed said they would be more likely to switch account providers if a
competitor offered hardware-based two-factor authenticators.
RSA Security's new customers recognized that security concerns could
inhibit consumers' willingness to bank online, and understood the potential
benefits that come with delivering strong authentication to their online
customers. By offering RSA SecurID tokens, these organizations provide online
banking customers with the option to leverage an easy-to-use security solution
that helps protect both identities and personal assets. Offering two-factor
authentication also helps enable these banks to move more transactions to
online channels, and creates a competitive advantage. RSA SecurID two-factor
authentication technology is based on something you know (a password or PIN)
and something you have (the authenticator), which displays a random 6-digit
number that changes every sixty seconds -- providing a much more reliable
level of user authentication than static, reusable passwords.
"With the increased reports of phishing, pharming and other fraud
techniques, there has been a groundswell of concern over whether personal
online information is secure," said Fred Schea, chief financial officer at
Stonebridge Bank. "We are pleased to be working with RSA Security to provide
our customers the peace of mind associated with knowing their vital financial
and personal data is strongly protected by a leader in the IT security
market."
"As a financial institution with a strong Internet presence, we believe we
need to provide our customers the necessary tools that enable them to securely
conduct business online," said Mark Jaindl, president and chief executive
officer at American Bank. "American Bank recognizes RSA Security's commitment
to protecting online consumers, and it only makes sense for us to offer this
trusted resource to our customers. RSA SecurID technology is a convenient,
cost-effective solution that should help instill confidence in our online
banking customers."
"Joining world-wide organizations both large and small, Stonebridge Bank
and American Bank are taking the necessary steps to ensure that their
customers' information remains confidential and secure," said Chris Young,
vice president of consumer authentication at RSA Security. "RSA Security has
been a long-time leader in the two-factor authentication market and we are now
leading the charge in delivering innovative consumer authentication services
that meet the needs of the financial services industry and other consumer
facing industries. For consumers, we are adding confidence to the convenience
of conducting transactions online."
About RSA Security
RSA Security Inc. helps organizations and individuals confidently protect
identities and information access. The company secures more than 15 million
user identities, safeguards trillions of business transactions annually, and
manages the confidentiality of data in tens of thousands of applications
worldwide. RSA Security's portfolio of award-winning solutions -- including
identity & access management, secure mobile & remote access, secure enterprise
access, secure transactions and consumer identity protection -- sets the
standard in the industry. Our strong reputation is built on a 20-year history
of ingenuity, leadership and proven technologies, and our more than 17,000
customers around the globe. Together with more than 1,000 technology and
integration partners, RSA Security inspires confidence in everyone to
experience the power and promise of the Internet. For more information,
please visit http://www.rsasecurity.com.
RSA, RSA Security and SecurID are either registered trademarks or
trademarks of RSA Security Inc. in the United States and/or other countries.
All other products and services mentioned are trademarks of their respective
companies.
For more information:
Courtney Hohne Dave Howell
OutCast Communications RSA Security Inc.
(415) 392-8282 (781) 515-6303
rsa@outcastpr.com dhowell@rsasecurity.com
SOURCE RSA Security Inc.
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Related links:
http://www.rsasecurity.com
CONTACT:
Courtney Hohne of OutCast Communications,
+1-415-392-8282, rsa@outcastpr.com; or Dave Howell of RSA
Security Inc., +1-781-515-6303, dhowell@rsasecurity.com
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