OAKBROOK TERRACE, Ill. and ZURICH, Nov. 14, 2011 /PRNewswire/ -- VASCO Data Security International, Inc. (Nasdaq: VDSI) (www.vasco.com), a leading software security company specializing in authentication products, today announced that Caixa Geral de Depositos (CGD) has implemented VASCO's DIGIPASS technology to secure its online banking customers.
Caixa Geral de Depositos is a Portuguese bank owned by the State of Portugal. In France, CGD consists of 46 branches with both private as small and medium enterprises, mainly from Portuguese origin. CGD wanted to implement a strong authentication solution compliant with the regulations issued by Banque de France. The solution had to respond to the 3D Secure protocol which is designed to add an extra layer of security for online credit and debit card transactions without compromising on user-friendliness and convenience for online banking customers. The 3D Secure protocol is designed to be able to confirm your identity before any transaction is made. Only if the identification has a positive outcome, you can proceed with the online payment.
CGD decided to implement VASCO's DIGIPASS GO 6 and DIGIPASS 260. DIGIPASS GO 6 is a very straightforward solution to generate one-time passwords at the push of a button and the ideal solution for online banking. The bank also deployed DIGIPASS 260, a PIN pad protected e-signature device that adds an extra layer of security for more sensitive transactions. Both devices are very intuitive in use and have been easily adopted by CGD's clients.
"VASCO DIGIPASS resulted to be a secure and easy-to-deploy solution, the implementation was completed in less than six months," declares Jose Pires, Assistant Director of CGD. "We are very happy with the VASCO strong authentication solution. Not only is it compliant with the regulations, it has essentially reduced the losses due to fraud."
"We are glad to see that CGD has readily adopted our strong authentication solution. From the beginning, we were committed to meet their strong authentication needs and at the same time to provide them with a secure and easy-to-use solution which was promptly adopted by its clients," says Jan Valcke, President and COO of VASCO Data Security.
About Caixa Geral de Depositos
The French branche of Caixa Geral de Depositos is mainly a retail bank. It consists of 46 branches with both private as small and medium enterprises, mainly from Portuguese origin.
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: This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934 and Section 27A of the Securities Act of 1933. Such forward-looking statements are subject to certain risks, uncertainties and assumptions and include, among other things, our expectations regarding the DigiNotar bankruptcy process, the impairment of our investment in DigiNotar, the timeframe in which the impairment costs will be incurred, our ability to recover amounts held in escrow, our ability to offset amounts that may be owed to DigiNotar by other VASCO affiliates against amounts owed to VASCO affiliates by DigiNotar, and our ability to effectively integrate certain intellectual property assets previously used by DigiNotar into our operations, as well as the prospects of, and developments and business strategies for, VASCO and our operations, including the development and marketing of certain new products and the anticipated future growth in certain markets in which we currently market and sell our products or anticipate selling and marketing our products in the future. 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," "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. Although VASCO believes that our expectations are reasonable, we can give no assurance that these expectations will prove to be correct. 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. Factors that could cause actual results to differ materially from those contemplated above include, among others, unanticipated costs associated with DigiNotar's bankruptcy or potential claims that may arise in connection with the hacking incidents at DigiNotar. Additional risks, uncertainties and other factors have been described in greater detail in our Annual Report on Form 10-K for the year ended December 31, 2010 and include, but are not limited to, (a) risks of general market conditions, including currency fluctuations and the uncertainties resulting from turmoil in world economic and financial markets, (b) risks inherent to the computer and network security industry, including rapidly changing technology, evolving industry standards, increasingly sophisticated hacking attempts, 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. Thus, the results that we actually achieve may differ materially from any anticipated results included in, or implied by these statements. Except for our ongoing obligations to disclose material information as required by the U.S. federal securities laws, we do not have any obligations or intention to release publicly any revisions to any forward-looking statements to reflect events or circumstances in the future or to reflect the occurrence of unanticipated events.
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.
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SOURCE VASCO Data Security International, Inc.