Federal Financial Institutions Examination Council guideline dictates
multi-factor security for online financial transactions by December 31,
2006
WICHITA, Kan., Dec. 20 /PRNewswire/ -- LendingTools.com, a leading
application service provider (ASP) for correspondent bank processors and
community financial institutions, announced today it has experienced a
surge in deployments of its biometric security product that encompasses
fingerprint recognition software and fingerprint scanners. The increased
sales are attributed to bank desires to meet the December 31 deadline set
by Federal Financial Institutions Examination Council (FFIEC) for stronger
security systems to protect consumer and business financial transactions
conducted over the Internet.
"Security is only as strong as your most careless user, and passwords
are often guessed, shared, or displayed on a sticky note on the users
computer screen. The FFIEC states that better security is needed and our
biometric authentication solution helps financial institutions meet their
guidance," said Eric Goering, president and chief executive officer of
LendingTools.com. "With the FFIEC deadline of December 31 at hand,
LendingTools.com has placed over 3,000 fingerprint readers in just 60 days.
We expect the devices to support over 10,000 end users."
The move to use fingerprint technology is based on its ease of use, low
entry cost, and the secure nature of fingerprinting as a component of
multiple factor authentication. The technology augments existing security
platforms rather than replacing them. There is no costly integration, no
time-consuming setup, and no learning curve for using and supporting
complex new security measures.
LendingTools.com has teamed with DigitalPersona, the leader in
fingerprint based biometric security, to provide its clients with the best
choice in multiple-factor network authentication available today.
DigitalPersona's technology ensures strong user authentication to protect
highly sensitive information and transactions while eliminating the IT
costs of replacing forgotten passwords and the risks of compromising
information related to lost or shared passwords. As personal computer
manufactures are increasingly offering built-in fingerprint readers as an
option, the demand for this type of biometric security is expected to
become even stronger.
"Managing the security and risks associated with large transactional
systems deployed over the Internet requires ongoing diligence," said George
Skaff, vice president of marketing for DigitalPersona. 'Incorporating
DigitalPersona's fingerprint authentication technology into
LendingTools.com solutions provides customers with assurance their data is
protected and that the company is in accordance with regulatory
compliance."
About LendingTools.com
LendingTools.com, Inc. specializes in the design and delivery of
web-based applications for the financial services industry and delivers
them through correspondent processing organizations. Its On-We Network
provides a low cost option for community bank image exchange through a
series of On-We Network Community Hosts. Over 2,000 financial institutions
utilize one or more LendingTools.com services daily to originate and
process ACH, wire, and imaged check transactions valued in excess of one
billion dollars. LendingTools.com, Inc. is a privately-held Kansas
corporation, and was founded by and is operated by bankers.
LendingTools.com maintains two offices and data centers in Kansas and an
office in Dallas, Texas. Please visit http://www.LendingTools.com for more
information.
About DigitalPersona
DigitalPersona is the leading provider of biometric authentication
solutions for enterprise networks, developers and consumer OEMs. Founded in
1996, the company designs, manufactures and sells flexible solutions that
improve security and regulatory compliance while resolving password
management problems. DigitalPersona's fingerprint readers utilize superior
optical fingerprint scanning technology to more accurately authenticate
users regardless of finger placement. The company's interoperable biometric
software solutions uniquely support the industry's widest array of
notebooks with fingerprint readers in addition to its own line of optical
placement readers. DigitalPersona's award-winning technology is used
worldwide by over 25 million people in the most diverse and challenging
environments for fingerprint authentication.
DigitalPersona has strategic relationships with market-leading
manufacturers and resellers including Dell Inc., Microsoft and GTSI Corp.
DigitalPersona Pro, the company's flagship turnkey security solution for
enterprise authentication, is used by leading organizations such as the
U.S. Department of Defense, Cargill, Telefonos de Mexico S.A. de C.V,
(TelMex), United Bankers' Bank and Sutter Health/CPMC. For more information
contact DigitalPersona, Inc. at +1 650.474.4000, or visit
http://www.digitalpersona.com.
SOURCE LendingTools.com
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Related links:
http://www.lendingtools.com
http://www.digitalpersona.com
CONTACT:
Larry Best, Chief Marketing Officer,
LendingTools.com, +1-316-267-3200 ext. 104,
LBest@LendingTools.com
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