NW_20010628_en_VASCO Opens London Sales Office to Expand Growing Market Share in Region
OAKBROOK TERRACE, Ill. and BRUSSELS, Belgium – June 28, 2001 – VASCO (Nasdaq NM & Nasdaq Europe: VDSI; www.vasco.com), a global provider of security solutions that enable e-business and e-commerce, continues to strengthen and expand its European sales channels with the opening of a sales office in London, United Kingdom. Recognized as the world’s banking center, with nearly 400 banks, London is also the center of one of the world’s most active web-based business and consumer web-based and wireless initiatives. VASCO’s London sales office will further support and leverage the company’s already considerable install base in the United Kingdom, which includes remote banking and corporate network customers such as Beneficial Bank, DMST, Fullers Brewery, Futuristic Technology, Kemira, National Westminster Bank, Natwest Life Insurance, P&O Stena Lines, St. Ivel, and Titmuss Deckert.
As Europe’s third largest online trading market, it is estimated that 9 million people in the United Kingdom will embrace online banking by 2004. According to Forrester Research, over half of adults in the UK are now online. Improved internet accessibility has driven the increase in online transactions, with internet sales increasing 35 percent from 1999 to 2000, but a survey published by Frederick Schneiders Research finds that 85 percent of respondents had concerns about transmitting personal information, such as credit card and financial information, over the Internet. In addition, many analysts have warned that online banking will become successful only as more financial institutions take steps to ensure the security of online transactions.
VASCO can thus effectively apply its position as the global market leader in authenticating and digitally signing online financial transactions to this dynamic market. The company currently secures almost six million users for more than 500 businesses in over 50 countries and more than 160 financial institutions worldwide, including ABN AMRO, Arab Bank Jordan, Fifth Third Bank, OCBC Bank, SEB Group, and SouthTrust.
“VASCO is focusing more resources into one of the world’s strongest and most aggressive markets for online security,” stated Jan Valcke, Executive Vice President of Sales and Marketing for VASCO. “Market conditions in the UK now match the markets in Europe where VASCO has been highly successful in selling online banking and network security, while the IT community in the United Kingdom is very well educated on authentication hardware and software – making our sales process easier. We expect this to accelerate our revenue growth in the UK for our Digipass® and VACMAN® families of authentication, authorization, and administration security products.”
VASCO secures the enterprise from the mainframe to the Internet with infrastructure solutions that enable secure e-business and e-commerce, protect sensitive information, and safeguard the identity of users. The Company's family of Digipass® and VACMAN® products offers end-to-end security through strong authentication and digital signature, true and secure Single Sign-On, access control, and web portal, LAN, and enterprise security, while sharply reducing the time and effort required to deploy and manage security. VASCO's customers include hundreds of financial institutions, blue-chip corporations, and government agencies in more than 50 countries. More information is available at www.vasco.com.
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 “believes,” ��anticipates,” “plans,” “expects,” 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 the Company's public filings with the US Securities and Exchange Commission for further information regarding the Company and its operations.
For more information contact:
Mike Lange, +1 630 932 8844, [email protected]
VASCO: Ariane Bosmans, +32 2 456 9810, [email protected]
Worldwide Investor Relations:
Annemieke Blondeel, +1 800 238 2726 or +44 208 308 7080, [email protected]