TriCipher Press Releases
Major Provider of Electronic Funds Transfer Services Selects TriCipher to Deliver Authentication Services to Over 1600 Financial Institutions
Agreement Extends TriCipher's Commanding Position in Online Identity Protection
LOS GATOS, CA — February 5, 2007 — TriCipher,® Inc., a leading provider of unified authentication infrastructure solutions that protect the online channel against fraud and identity theft, today announced that SHAZAM®, Inc., a leading provider of electronic funds transfer (EFT) products and services, has selected TriCipher’s TACS multifactor-authentication platform as the de facto standard for authentication services for its 1,600 financial institution participants. The agreement equips SHAZAM with an industry-leading solution to help protect against online security threats and phishing attacks. According to IDG News Service, 85 percent of all phishing scams target companies in the financial services sector.
“In our continuing efforts to tackle sophisticated threats, we have joined with TriCipher to deploy PC 2 factor strong authentication without the need to implement and incur the administrative costs of physical tokens or the security risks of storing passwords,” said Terry Dooley, CIO for SHAZAM. “With strong multifactor authentication at the core of our offering, we are further securing our participants’ sensitive data and giving financial institutions additional tools, such as restricting access by location. After the initial implementation, the solution will be transparent to the user and provide increased protection over the challenge-based browser solutions that are starting to show vulnerabilities to today’s sophisticated online criminals.”
“TriCipher’s partnership with SHAZAM makes possible a comprehensive EFT solution that also mitigates many of the risks in electronic commerce,” said John De Santis, President and CEO of TriCipher. “SHAZAM’s expanding customer portfolio is testament to its leading-edge EFT solutions, and we’re pleased that our advanced, PC 2 factor-based authentication can assure SHAZAM participants that their customers’ data will be secure.”
SHAZAM, whose comprehensive solutions deliver a range of EFT services to multiple institutions, requires access and authorization capabilities that ensure that no single institution can access another institution’s data. Additionally, all users must have the appropriate level of authentication needed to access the applications and services to which they are entitled.
SHAZAM’s deployment of TACS provides a future-ready solution that will help meet increasing security and regulatory demands, including Federal Financial Institutions Examination Council (FFIEC) standards. SHAZAM also has the ability to add different levels of strong authentication according to the nature of the applications and services being accessed.
As part of the authentication platform for its customers, SHAZAM has integrated Computer Associates’ SiteMinder® application into its authentication architecture. In tandem with TACS, SiteMinder allows financial institutions to manage their own set-up, access, and control settings. This enables SHAZAM to provide seamless access and identity management, as well as strong authentication – all within a single, integrated operating environment.
About SHAZAM
The SHAZAM network was founded in 1976 and is one of the last remaining member-owned and member-controlled EFT networks and processors in the industry. SHAZAM provides EFT services to more than 1,600 community financial institutions in 29 states. SHAZAM offers ATM processing services; Visa® Check and Debit MasterCard® national debit products, including business debit and health savings account (HSA) cards; card authorization services; merchant processing; ACH services; and information security solutions. Visit SHAZAM at www.shazam.net.
About TriCipher, Inc
TriCipher, Inc. provides a unified authentication infrastructure to protect the B2B and B2C online channel against fraud and identity theft. 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 protects customer investment by adjusting authentication strength to defeat new threats and to meet regulatory changes without the need to implement a new infrastructure. Founded in 2000, TriCipher is headquartered in Los Gatos, California. The company is funded by RBC Technology Ventures, ArrowPath Venture Capital, Intel Capital, Trident Capital, and Wasatch Venture Partners. For more information, visit TriCipher on the web at www.tricipher.com.
PRESS CONTACTS
Eileen Leveckis
Trainer Communications
eleveckis@trainercomm.com
415-819-4232
Terry Dooley
SHAZAM
tdooley@shazam.net
515-558-7502
