TriCipher Press Releases

TRICIPHER AND VERID PARTNER TO DELIVER STRONG DIGITAL IDENTITY PROTECTION FOR ONLINE FINANCIAL SERVICES

Integrated Solution Provides Strong Authentication Based on Unique Business Requirements

SAN MATEO , California —October 2, 2006—TriCipher, Inc., today announced the integration of Verid’s knowledge-based authentication (KBA) technology with the TriCipher Armored Credential System™. By integrating Verid’s industry leading KBA technology into TriCipher’s patented Authentication Ladder, financial institutions are provided with a highly flexible infrastructure to deploy and manage authentication services based on what the user needs to do online while protecting against Man in the Middle attacks and other emerging forms of online fraud and identity theft.

“The combination of TriCipher multifactor authentication with Verid knowledge-based authentication provides a highly secure, non-invasive solution,” said Andy Cottrell, CTO, TriCipher, Inc. “With this joint solution, financial institutions and their customers will benefit from increased security for a variety of online scenarios.”

Verid’s knowledge-based authentication technology presents consumers with a series of personalized questions based on deep background information derived from a variety of public and non-public sources. The technology guides the consumer through an intuitive and interactive process until identity is confirmed. TACS is the first authentication system that enables companies to deploy and manage multiple types of credentials from a single infrastructure, allowing them to increase authentication strength based on risk in real time and providing an easy growth path as regulations and attacks change.

Once registered by Verid, the financial institution issues the user a TriCipher credential. When re-verification is needed for a high-risk or questionable transaction, a new machine is registered or to add services, the TriCipher system leverages Verid. Because Verid’s KBA technology generates questions in real time based on information from external sources, it is not at risk of being stolen by an insider. In addition, because the questions change each time, attackers cannot intercept the information and reuse it at a later time.

“Financial institutions need the advanced capabilities found in best-of-breed technologies but also want the efficiencies of interoperability,” said Chris Rickborn, COO of Verid. “Our KBA technology fits nicely into the TACS architecture and will create a solution with extensive functionality and flexibility.”

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 launched in 2005 with backing from ArrowPath Venture Capital, Intel Capital, Trident Capital, and Wasatch Venture Partners.

About Verid, Inc.
Verid is the leading provider of real-time Knowledge Based Authentication solutions that accurately verify identity without compromising consumers’ comfort, convenience or privacy. Verid’s clients include top financial institutions, wireless telecom providers, leading payment processors, employer services and retailers who have implemented KBA as part of their consumer authentication strategy. Verid’s KBA service helps businesses manage identity risk and establish and maintain high quality customer relationships.

For further information regarding Verid, please visit the Web site at www.verid.com, or call toll-free at 1-888-533-5300.

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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.

For more information, contact:
Elizabeth Safran
Trainer Communications
tc@trainercomm.com
(408) 920-0585

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