Leader in Strong Authentication for Financial Institutions Is Only
Security-Focused Company Selected as Part of Key Banking Technology Roundtable
in Beijing
SUNNYVALE, Calif., Nov. 15 /PRNewswire/ -- Arcot Systems, Inc. (Arcot), a
leading provider of online authentication and identity management solutions,
announced that the company will be amongst California's most influential
technology providers speaking on a banking and technology roundtable today as
a part of Governor Arnold Schwarzenegger's "Mission to China" California trade
initiative. Arcot will join other roundtable participants, including
executives from Sun Microsystems, Hewlett Packard, East West Bank, Wells
Fargo, Comerica and Silicon Valley Bank, along with 11 Chinese city commercial
and national shareholding banks and several high-level participants from the
China Banking Regulatory Commission.
Keith Goldstein, Vice President, Worldwide Channel Development for Arcot,
will represent Arcot at the roundtable. Topics for roundtable discussion
include recent China banking reforms and the ways in which California banks
and financial services technology companies can help provide effective
solutions such as software-based strong authentication and secure digital
signing. The roundtable will be held at the Tsinghua University in Beijing
from 11:00 a.m. to 12:30 p.m.
Arcot is the only online security-focused company participating in
Governor Schwarzenegger's California trade mission, which includes some of the
most renowned names in banking and technology in the United States. Arcot is
a leader in online security software and services for the financial services
sector, providing multi-layered authentication solutions to a number of top
banking institutions. The company's TransFort(TM) solution is the world's
leading software for implementing the Verified by Visa(TM), MasterCard
SecureCode(TM), and J-Secure(TM) by JCB online card payer authentication
programs, enabling both user authentication to the issuing bank, and bank
authentication to the individual consumer. In addition, the company's
ArcotID(TM) core strong authentication technology is a software smartcard that
allows for strong, multi-factor authentication that provides a scalable
solution for large-scale Internet banking and other online transactions.
Instead of using hardware tokens, physical smart cards, or scratch cards,
which are expensive and cumbersome to use and difficult to distribute to
millions of customers, banks can utilize Arcot's software smart card solution,
which is more cost-effective and easier to administer/distribute and manage on
a large-scale basis.
"Scalable and strong multi-layered authentication solutions are more
important than ever today and Arcot is honored to be chosen as one of the
California technology providers represented on this trade mission. It speaks
to Arcot's relevance for addressing the financial business requirements in
China and really, throughout the world, as more and more financial
transactions are occurring online," said Keith Goldstein, Vice President of
Worldwide Channel Development for Arcot. "Our authentication and digital
signing solutions have enabled the increasingly regulated financial
organizations in the Asia/Pacific region and other parts of the world to
streamline their Internet operations while increasing the overall level of
security for the institution, protecting businesses from fraud, and securing
the digital identities of millions of people."
Arcot addresses many of the online security issues faced today by banking
institutions in China and other parts of the world -- including brute force
attacks, man-in-the-middle attacks, keylogging trojans, and phishing attacks.
The company's multi-layered security solutions prevent hackers from accessing
proprietary online systems at various levels by authenticating both the
consumer to the bank, and the bank to the consumer. Arcot also supports
recent FFIEC recommendations for the use of stronger authentication as the
company provides a software strong authentication solution that specifically
addresses the concerns outlined in the recent report, Authentication in an
Internet Banking Environment. Arcot's solutions enable banks to implement
true strong authentication within their existing infrastructures, while
maintaining the user-friendliness of passwords. For a copy of the Arcot
solution brief, Strong Authentication for Consumer Banking Portals: Meeting
FFIEC Requirements Using Software Strong Authentication, contact
FFIEC@arcot.com.
About Arcot Systems
Arcot is a leading provider of secure e-payment, digital signature,
identity management, and strong authentication software solutions for
financial services, bio-pharmaceutical, and other security-conscious
enterprises. The company offers a suite of easily deployed, cost-effective,
and scalable software-based solutions that provide powerful "multi-factor"
protection to limit online transaction fraud. Arcot's patented camouflage
technology creates a virtual software "smart card" -- the Arcot ID(TM) -- that
is transparent to the user as it verifies a person's identity and allows for
the digital signing of transactions and documents. Unlike other strong
authentication solutions, the ArcotID system does not require users to carry
physical tokens/smart cards, or to employ digital certificates that sit
vulnerable on a user's desktop. Arcot's solution secures protection for
private keys for the user on any computer, thus enabling secure roaming, and
providing strong authentication with the convenience and simplicity of
passwords. Whether used as a robust standalone solution or in tandem with
extranet access, single sign-on, or hardware authentication systems, the
company's products meet the business need for strong transactional security,
high functionality, and application/systems interoperability while providing
the customer with a seamless, user-friendly experience. Arcot's offerings are
compliant with industry standards including 3-D Secure, Identrus, and SAFE
(Secure Access for Everyone). Organizations also work with Arcot to meet
compliance with legislative requirements such as Sarbanes-Oxley and HIPAA.
Arcot is a private company headquartered in California's Silicon Valley,
with offices in the United Kingdom, Germany, and India. The company's
customers include members of the top 100 banks, the top 10 pharmaceutical
companies, and the top 10 e-commerce sites in the world. Over 10,000 card-
issuing banks and other enterprises, and 20,000 merchants use Arcot's software
to protect the identities of millions of users worldwide. For more
information, visit http://www.arcot.com .
Contacts:
Kristina J. Yee, Director of Corporate Marketing, Arcot Systems,
(408) 969-6202 or kjyee@arcot.com
OR
John C. Tran, Neale-May & Partners, (650) 328-5555, x277 or
jtran@nealemay.com
http://www.arcot.com/releases.html
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