NW_20011030_en_Cyota teams with VASCO, selects Digipass to enhance SecureSuite offering
OAKBROOK TERRACE, Illinois and BRUSSELS, Belgium – October 30, 2001 – VASCO (Nasdaq NM & Nasdaq Europe: VDSI; www.vasco.com), a global provider of enterprise-wide security products that support e-business and e-commerce, announced today a strategic partnership with Cyota (www.cyota.com), a leading payment security company. Under the agreement, both Cyota and VASCO will cross-sell products to their individual client base. Cyota has integrated VASCO’s Digipass security and authentication technology to its Cyota SecureSuiteÔ product line, increasing the range of authentication and security platforms that it supports. As a leading payment and security technology company, Cyota offers a comprehensive line of products that protect cardholders while shopping online and address the challenges of online fraud and chargebacks. SecureSuite is the first product to combine security initiatives mandated by Visa and MasterCard, as well as additional proprietary secure payment solutions such as single use or surrogate numbers into a single platform.
“VASCO and its Digipass technology is a perfect complement to our consumer payment and security solutions, which already support a wide variety of authentication devices and methods,” noted Naftali Bennett, President and CEO of Cyota. “By integrating Digipass security functionality into our products, our customers can offer their cardholders Digipass’ strong authentication and e-signature security. We are particularly excited about these benefits for 3D Secure (Verified by Visa) transactions. Cyota’s Verified by Visa product–Cyota SecureVbVÔ –allows cardholders to confirm each online purchase with a password. The combination of both Cyota Secure VbV and Digipass will enable card issuers to protect consumers and ensure strong authentication without any software download or hardware installation on the cardholders’ PC. We look forward to working closely with VASCO to provide both of our client bases the broadest range of payment, security and authentication solutions.”
“Our partnership with a leading e-commerce company like Cyota represents another milestone in VASCO’s e-commerce strategy, and proves the value and flexibility of our security products for the rapidly growing consumer payments market,” explained Jan Valcke, Executive Vice President of Sales and Marketing for VASCO. “Now, anyone utilizing Cyota’s system can offer consumers the advantages of Digipass strong authentication and e-signature, with a range of secure user platforms ranging from hardware authenticators and smart cards to Digipass software, smart-phones, and PDA’s.”
SecureSuite is a modular online payment security platform designed to support a wide range of authentication and credit card security products while providing a unified user experience. SecureSuite includes 3D Secure (Verified by Visa) and MasterCard SPA-compliant products, as well as CyotaSecureClickÔ – an innovative and proprietary solution that enables cardholders to shop online without revealing their real credit card numbers by issuing a surrogate number for every purchase. With one backend integration, SecureSuite allows banks, to offer consumers a single user experience that supports association standards, payment security and transaction products.
Proven at over 600 corporations, financial institutions, and government agencies worldwide, Digipass utilizes patented dynamic password and digital signature technologies to establish a trusted digital identity for online users and to safeguard the integrity of data and transactions. At this moment, more than 170 financial institutions globally that have put their trust in VASCO to secure their corporate networks and their customers personal data and transactions, including ABN AMRO, Arab Bank Jordan, Beneficial Bank, Cortal Bank, Fifth Third Bank, Hamburgische Landesbank, National Westminster Bank, OCBC Bank, First Union and SEB Group.
About VASCO
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, enterprise Single Sign-On, and LAN 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.
About Cyota
Cyota is a leading payment security company that is dedicated to helping financial institutions secure customer relationships through reliable, flexible, easy to use online payment security products. Cyota SecureSuiteÔ is a revolutionary platform designed to serve as the backbone for integrating numerous e-payment initiatives. Cyota services multiple clients in North America and worldwide. Founded in 1999 by leading card and security industry experts, Cyota is headquartered in New York with offices worldwide. Cyota is led by a respected management team with extensive experience in the security, Internet and banking industry and is supported by an international Advisory Board comprised of world-renowned financial and security experts.
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.
VASCO Media:
Americas: Mike Lange, +1 630 932 8844, [email protected]
EMEA/APAC: Jochem Binst, +32 2 456 9810, [email protected]
Investor Relations:
Annemieke Blondeel, USA +1 630 932 8844, Europe +44 20 8308 7080, [email protected]
Cyota Media:
Beatriz Garcia, +1 212 977 5402 x170, [email protected]