VASCO's MYDIGIPASS.COM selected by IST Shareholder Services to strengthen application security

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Oct 07, 2013, 03:00 ET

OAKBROOK TERRACE, Ill., and ZURICH, Oct. 7, 2013 /PRNewswire/ -- VASCO Data Security International, Inc. (Nasdaq: VDSI) (www.vasco.com), a leading software security company specializing in authentication products and services, today announced that IST Shareholder Services, a full service stock transfer agent, will implement VASCO's MYDIGIPASS.COM service to secure customer access to stock records.

IST offers a wide range of critical services including shareholder account management, dividend disbursement, board elections, small share buy backs, stock purchase and dividend reinvestment plans. The company has about 80,000 customer accounts and has both public and privately held companies as its customers. In order to secure access to customers' accounts, IST decided to replace its static password systems with MYDIGIPASS.COM's strong authentication.

MYDIGIPASS.COM is VASCO's hosted consumer authentication platform in the cloud. The platform combines high-level security with ultimate user convenience. IST is now able to integrate strong authentication using one-time passwords to secure access to its services and content. IST's clients can register themselves on www.mydigipass.com and download the free DIGIPASS for Mobile application. With the DIGIPASS for Mobile app users can simply scan the QR code or generate a dynamic one-time password on their PC, cell phone, tablet or mobile device to securely log on to the shareholder service.

"Security is of the utmost importance in the stock transfer business," says Bob Pearson, President and CEO of IST. Committed to offering a first-class quality service we desired a robust, high-level and proven security solution that could replace our outdated password system. VASCO's expertise in the financial business quickly won us over. MYDIGIPASS.COM's strong authentication provides our customers with a secure and convenient online environment and eliminates the burdens of password management. Offering strong authentication to secure online access to stock records is unique in our business segment and will also be favorably perceived by the Security and Exchange Commission (SEC). MYDIGIPASS.com not only alleviates password issues, but also gives us a competitive advantage."

"We are very pleased to welcome IST in our MYDIGIPASS.COM community," says T. Kendall Hunt, Founder, Chairman and CEO of VASCO Data Security. "MYDIGIPASS.COM provides an answer to the company's current vulnerabilities of its password system: the weakness of the combination login and static password. The added convenience, simplicity and assurance that accounts can only be access by authorized persons is a real advantage for organizations who deal with such sensitive and business-critical information."

About IST Shareholder Services
Samuel Insull, who pioneered the expansion of the electric utility services in the early 1900's, founded Illinois Stock Transfer Company. Initially, the company handled only his utilities, but today, all types of businesses and industries are clients. After many years of ownership and management by Mr. Insull, the company was acquired by Middle West Service Co. It was then sold in 1974 and today the company remains privately held, giving it an advantage to focus on clients' needs without any conflict of interest. In 2010, in order to actively market all the services, the company changed its name to IST Shareholder Services. Currently, Robert G. Pearson, President & CEO, owns and manages the company.

About VASCO
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, 2010 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.

For more information contact: Jochem Binst, +32 2 609 97 00, [email protected]

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