multi-factor authentication



TriCipher Press Releases

METAVANTE STRENGTHENS PROTECTION AGAINST ONLINE FRAUD THROUGH MULTIFACTOR AUTHENTICATION SOLUTION

Adding another layer of security to combat fraudulent Internet activity

MILWAUKEE , May 4, 2006 – Metavante Corporation today announced that it’s providing a risk-based multifactor authentication solution to its financial institution clients and internal users. This continues Metavante’s focus in providing clients with a broad array of security solutions to address Internet fraud, stronger authentication and the Federal Financial Institutions Examination Council’s (FFIEC) guidelines requiring financial institutions to authenticate the identity of customers accessing Internet-based financial services. Metavante is the financial technology subsidiary of Marshall & Ilsley Corporation (NYSE: MI).

Through a strategic partnership with TriCipher, Inc., a leading provider of future proof risk based authentication solutions, Metavante will complement its comprehensive security offerings with the TriCipher Armored Credential System™ (TACS). With TACS’ multifactor authentication, Metavante banking clients will be able to deploy and manage the multiple types of credentials used to verify a customer’s identity from a single infrastructure. The solution is well equipped for financial institutions that offer a wide range of products and services to a broad customer base because it allows the authentication strength to be assigned based upon the user and nature of the transaction.

“Metavante has proven it has a deep understanding of all the issues surrounding online fraud by designing a security infrastructure that marries compliance with long-term security,” said Sandra Bergeron, chairman, TriCipher, Inc. “By drastically reducing the cost, complexity and management associated with very large-scale authentication deployments, TriCipher has been able to support the business goals of industry leaders, such as Metavante, as they step up to the plate to protect the online channel against all forms of identity theft and online fraud.”

In 2005, Metavante began work on a Strong Authentication Service for its electronic banking clients to help them mitigate risks, meet FFIEC guidelines, and provide a cost-effective solution against online fraud. Last year, Metavante offered its clients Internet Fraud Solutions, a complete email fraud and phishing solution that enables financial institutions to proactively prepare, respond and control potential fraudulent activity. During 2004, Metavante offered a pre-packaged service to help educate clients’ end-customers on the topics of email fraud, phishing and pharming.

“Authentication is an important component to consider when evaluating the protection needed to fight fraudulent attacks on the Web. This was always Metavante’s mindset and the reason we provide it as one of multiple layers of control to prevent and safeguard clients’ customer information,” said Brian Hurdis, senior executive vice president and chief information and privacy officer, Metavante Corporation. “We looked at numerous solutions and only the TriCipher Authentication Ladder enabled us to deploy and centrally manage many authentication strengths matched to different user risk profiles, and adjust authentication strength over time as needed. This mix of security and flexibility is an example of our commitment to protect our clients against online fraud in a very cost-effective method.”

Metavante Banking Solutions offer the most comprehensive set of integrated products and services for financial services providers that are centered on customer and account management, specializing in deposit, loan, and trust accounts. These core processing products offer clients flexibility in choosing either a licensed or an outsourced solution. Metavante Banking Solutions also includes fully integrated delivery channels, business and marketing analytics, electronic banking, integrated payments, image, risk and compliance solutions, along with business and technology consulting. Serving over 900 financial services providers for core processing, Metavante Banking Solutions is a leading deposit system for financial institutions ranging from community banks to the top 100 U.S. banks. Additionally, Metavante’s Risk and Compliance Solutions assist clients in reducing their risk management burden and grow their business by combining operational risk and compliance acumen with financial services expertise and enabling technologies.

About TriCipher, Inc.
TriCipher, Inc. provides Future Proof Risk Based Authentication. The TriCipher Armored Credential System™ (TACS) is the first authentication system that enables companies to deploy and manage multiple types of credentials from a single infrastructure. Through this flexible "Authentication Ladder," TriCipher delivers future proof security – protecting your investment by enabling authentication strength to adjust in response to new threats and regulatory changes without the need to implement a new infrastructure. In addition, TriCipher delivers risk based authentication - preventing online fraud through seamless integration with fraud detection systems, secondary authentication systems and the ability to enforce security software presence checks for malware protection. Founded in 2000, TriCipher is headquartered in San Mateo, California. The company was incubated as NSD Security before launching as a separate entity in 2005 with backing from ArrowPath Venture Capital, Intel Capital, Trident Capital, and Wasatch Venture Partners.

About Metavante
Metavante Corporation delivers banking and payments technologies to financial services firms and businesses worldwide. Metavante products and services drive account processing for deposit, loan and trust systems, image-based and conventional check processing, electronic funds transfer, consumer healthcare payments, and electronic presentment and payment. Headquartered in Milwaukee, Metavante ( www.metavante.com) is wholly owned by Marshall & Ilsley Corporation (NYSE: MI).

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Metavante is a registered trademark of Metavante Corporation.

TriCipher and Armored Credential System are either registered trademarks or trademarks of TriCipher, Inc. in the United States and/or other countries. All other products and services mentioned are trademarks of their respective companies

For more information, contact:

Elizabeth Safran
Trainer Communications
tc@trainercomm.com
(408) 920-0585

Sally Sheward
TriCipher, Inc.
sally@tricipher.com
(650) 372-1312

 

 


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TriCipher, Armored Credential, and Armored Credential System are either registered trademarks or trademarks of TriCipher, Inc. in the United States and/or other countries. All other trademarks are the property of their respective owners. FIPS 140-2 Validation is a Certification Mark of NIST, which does not imply product endorsement by NIST, the U.S. or Canadian Governments. Identrust, Identrust Compliant, and the Identrust Compliant logo are trademarks and service marks of Identrus LLC.