TriCipher Press Releases

Q² SOFTWARE SELECTS TRICIPHER TO SECURE ONLINE BANKING SERVICES FOR ITS COMMUNITY BANK AND CREDIT UNION CUSTOMERS

TriCipher Armored Credential System Selected Over 20 Competitors Because the Unique Flexibility of Its Authentication Ladder Meets the Varied Needs of Q² Customers

SAN MATEO , Calif. Sept 11, 2006 —TriCipher, Inc., a leading provider ofFuture Proof Risk Based Authentication Solutions, today announced that Q² Software, Inc., a provider of software and services for community banks and credit unions, has selected the TriCipherArmored Credential System (TACS) solution to deploy to its customer base. A key feature of TACS is its Authentication Ladder, which provides the unique ability to manage multiple forms of multifactor authentication from a single infrastructure. Leveraging the flexibility and variety of the TACS Authentication Ladder, Q² now provides its customers with a Federal Financial Institutions Examination Council ( FFIEC )-compliant solution that offers industry-leading protection against “Man in the Middle” (MITM) attacks and other emerging forms of online fraud.

“We are excited about leveraging TriCipher’s technology for the release of the Q²Factor Authentication Gateway. The TriCipher Authentication Ladder enables us to provide the most flexibility to our customers by giving them multiple authentication choices to address risk, each of which fully complies with the FFIEC guidelines,” said Hank Seale, CEO, Q² Software, Inc. “Our integration of voice technology for out-of-band delivery adds a level of security and convenience to our solution for both our data center and on-site customers.”

After a rigorous evaluation of more than 20 solutions, Q² selected TACS to fullfill the diverse business and technology requirements of the Q² customer base without sacrificing strong security or the ability to respond to market changes. TACS also provides “future-proofing”: the ability to respond to future compliance requirements and changes in the threat environment without needing an ongoing investment in costly infrastructure upgrades.

Scott Abeel, VP Products, Q² Software, Inc., added, “Once our customers complete our Q² Risk Assessment package, we can assist them in selecting and deploying appropriate levels of authentication technology based on risk, cost, convenience, and complexity. Other potential vendors we evaluated had more of a one-size-fits-all approach.”

Q²’s selection highlights TriCipher’s momentum in the financial services industry. With this latest win, TriCipher multifactor authentication will be selected for use by more than 3000 financial institutions. This momentum is due to financial institutions recognizing the increased importance of strong security for online financial records and transactions as well as the strength of TriCipher’s security solution, which has been well documented in respected publications including InfoWorld, Information Security magazine, and IT Week. Where other authentication products offer weak security and protect against only one or two attack types, TriCipher’s patented technology provides strong protection against a wide variety of attacks, including emerging threats such as MITM. In fact, in a September 2006 exhaustive lab test of 13 multi-factor authentication solutions, SC Magazine concluded: “TriCipher is the strongest authentication money can buy.”

“With FFIEC deadlines rapidly approaching, financial services companies are tasked with making important technology decisions in a business climate fraught with change,” explained John De Santis, president and CEO, TriCipher, Inc. “The flexibility inherent in our solution accounts for this state of change by allowing companies to act immediately and fine-tune authentication strength as needed. With TriCipher, Q²’s customers will receive the most secure online fraud protection available today, as well as a future-proof infrastructure that will keep them both secure and compliant over time.”

 

About Q²|
Founded by R.H. “Hank” Seale, III in 2004, Q² Software, Inc. provides software and services for community financial institutions, with a focus on delivering affordable technology and unmatched customer service. The company’s online, voice, and website management solutions enable community financial institutions to provide products and services that compete effectively with large institution offerings, but without the “large institution” investment. Additionally, Q²’s common host architecture has led to the first fully integrated online and voice banking system with flexible, real-time account access to many core processors. Headquartered in Austin, Texas, Q² Software has a rapidly growing customer base of financial institutions looking for better technology, functionality, security, and support, in addition to a vendor focused on their needs. For more information, visit Q² on the web at www.Q2software.com .

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 customers’ 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. For more information, visit TriCipher on the web at www.tricipher.com.

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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