OAKBROOK TERRACE, Ill. and ZURICH, Feb. 22, 2011 /PRNewswire/ -- VASCO Data Security International, Inc. (Nasdaq: VDSI; www.vasco.com), a leading software security company specializing in strong authentication products, today announced that Volunteer Corporate Credit Union (VolCorp) uses VASCO DIGIPASS GO 6 in combination with VACMAN Controller to secure access to VolCorp Online, an online application for member credit unions.
VolCorp is a financial cooperative which provides low-cost financial services, investments and lending rates to credit unions. Several years ago, VolCorp decided to roll out DIGIPASS GO 6 to protect access to VolCorp Online, an online tool for its member credit unions. The adoption of multi-factor authentication was stimulated by the increased risk of online attacks in the financial industry in general and the recommendations of the National Credit Union Administration (NCUA), the governing body for credit unions, in particular. The NCUA issued guidance to credit unions offering Internet-based services to use appropriate security measures and technologies to authenticate users.
VolCorp decided to implement VASCO's DIGIPASS GO 6 in combination with the authentication software, VACMAN Controller. VolCorp chose to roll-out strong authentication to comply with the recommendations from the NCUA and native integration into the existing applications. VACMAN Controller met these requirements and was seamlessly integrated into VolCorp Online.
Over 2,500 credit union users have now been equipped with a customized DIGIPASS GO 6 enabling them to securely log-on to VolCorp Online. DIGIPASS GO 6 replaces the use of static passwords with dynamic one-time passwords.
"VASCO not only offered us a solution to meet NCUA guidance, the solution could also easily be integrated into our application at a reasonable cost. Furthermore, VASCO supported us with an excellent service level throughout the implementation," says Ben Williams, SVP, CTO at VolCorp.
"The implementation of VASCO strong authentication at VolCorp showcases that our technology can be implemented for use in several branches of the financial industry, whether it is retail banking, corporate banking, brokerage or insurance," says Jan Valcke, President and COO at VASCO Data Security.
Volunteer Corporate Credit Union (VolCorp) is a not-for-profit financial cooperative that serves natural person credit unions nationally. We were organized for the express purpose of providing low-cost financial services and competitive investment and lending rates to our member/owners, and are guided by a volunteer board of directors.
VolCorp is totally owned and directed by our member credit unions. Profit is not the driving force; rather VolCorp exists solely for the benefit of our member credit unions, which is a significant difference from other financial institutions.
With a national field of membership, we currently serve 266 credit unions throughout Tennessee, Alabama, Kentucky, Mississippi, South Carolina, West Virginia, California, Florida, Georgia, Idaho, Illinois, Louisiana, Maryland, Michigan, North Carolina, North Dakota, Ohio, Texas, and Wisconsin. VolCorp has over $1 billion in total assets.
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 over 10,000 companies in more than 100 countries, including more than 1,600 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. Any statement containing words such as "believe," "anticipate," "plan," "expect," "intend," "mean," "potential" and similar words, is forward-looking, and these statements involve risks and uncertainties and are based on current expectations. Consequently, actual results could differ materially from the expectations expressed in these forward-looking statements.
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.