Sony Bank implements VASCO's authentication technology
OAKBROOK TERRACE, Ill. and ZURICH, Sept. 18, 2012 /PRNewswire/ -- VASCO Data Security International, Inc. (Nasdaq: VDSI; www.vasco.com ), a leading software security company specializing in authentication products today announced that Sony Bank Incorporated implemented VASCO's DIGIPASS and VACMAN authentication technology, to enhance the security level of its Internet banking service.
Sony Bank is an affiliate of Sony Financial Holdings, that comprises Sony Life Insurance, Sony Assurance and other group companies. Sony Bank started business in 2001 as an Internet bank for individuals. In accordance with its corporate philosophy, the bank provides financial products and services that satisfy customers by embracing their individual views.
Nowadays, the Internet is indispensable in peoples' lives. On the other hand, Internet users are exposed to the rapid increase of cybercrime. The global reach of the Internet means that threats can get around the world in a flash. The Internet banking service is no exception. Fraudulent acquisitions of credentials, phishing, illegal remittances and other cyber fraud are a big issue, not only in Japan, but worldwide. In addition, the methods of these attacks have evolved, becoming more and more sophisticated. It has become a necessity to prepare the right countermeasures to prevent future attacks and to anticipate market trends.
Sony Bank made the decision to implement VASCO's high-level security technology. Its customers can use DIGIPASS GO 7, a device that generates one-time passwords. These passwords only last for a limited time period and become invalid after this short period of time. In the back-end, VASCO's VACMAN authentication platform is capable of processing the large volumes of end-users, typical for a banking environment. VASCO's flexible and strong security solutions are tailored to the bank's needs and improve the quality of the online services and thus the customers' confidence and peace of mind.
"We are very proud that Sony Bank chose VASCO's DIGIPASS technology. We believe that VASCO's strong security solution is a perfect fit for Sony Bank's brand-new IT technology and the bank's future security needs," says Jan Valcke, President and COO at VASCO Data Security.
About Sony Bank
Sony Bank Incorporated is an affiliate of the financial service group, Sony Financial Holdings group. The group comprises Sony Life Insurance, Sony Assurance and other group companies. The deposit balance is 1,762.2 billion Yen by its tenth anniversary in FY2011. Since Sony Bank's start-up in 2001, its amount increases year by year. Sony Bank had an affiliate named SmartLink Network and it entered into the credit card business in May 2011. The company provides total financial services.
VASCO is a leading supplier of strong authentication and e-signature solutions and services specializing in Internet security applications and transactions. VASCO has positioned itself as a global software company for Internet security serving a customer base of approximately 10,000 companies in more than 100 countries, including approximately 1,700 international financial institutions. VASCO's prime markets are the financial sector, enterprise security, e-commerce and e-government.
Forward Looking Statements:
Statements made in this news release that relate to future plans, events or performances are forward-looking statements. These forward-looking statements (1) are identified by use of terms and phrases such as "expect", "believe", "will", "anticipate", "emerging", "intend", "plan", "could", "may", "estimate", "should", "objective" and "goal", "possible", "potential", and similar words and expressions, but such words and phrases are not the exclusive means of identifying them, and (2) are subject to risks and uncertainties and represent our present expectations or beliefs concerning future events. VASCO cautions that the forward-looking statements are qualified by important factors that could cause actual results to differ materially from those in the forward-looking statements. These risks, uncertainties and other factors have been described in greater detail in the Annual Report on Form 10-K for the fiscal year ended December 31, 2011 filed with the Securities and Exchange Commission and include, but are not limited to, (a) risks of general market conditions, including currency fluctuations and the uncertainties in world economic and financial markets, (b) risks inherent to the computer and network security industry, including rapidly changing technology, evolving industry standards, increasing numbers of patent infringement claims, changes in customer requirements, price competitive bidding, and changing government regulations, and (c) risks specific to VASCO, including, demand for our products and services, competition from more established firms and others, pressures on price levels and our historical dependence on relatively few products, certain suppliers and certain key customers. Reference is made to VASCO's public filings with the U.S. Securities and Exchange Commission for further information regarding VASCO and its operations.
This document may contain trademarks of VASCO Data Security International, Inc. and its subsidiaries, including VASCO, the VASCO "V" design, DIGIPASS, VACMAN, aXsGUARD and IDENTIKEY.
SOURCE VASCO Data Security International, Inc.