VASCO Adds 15 New U.S. Banks During Q2 2006
OAKBROOK TERRACE, Ill., and BRUSSELS, Belgium, July 27, 2006 - VASCO Data Security International, Inc. (www.vasco.com) (Nasdaq: VDSI), the global number one vendor of strong user authentication and e-signature products, today announced that it has won 15 new U.S. banks in the second quarter of 2006 for corporate banking applications. This is a record in the company’s history, and a proof of the fact that VASCO’s approach of the U.S. market is working.
VASCO’s strategy is to focus on the corporate banking market first. Once a bank has deployed a first batch of Digipass and has integrated VACMAN Controller, it is technically ready for larger deployments in other applications, including retail banking. VASCO expects the first strong authentication projects for retail banking to happen in 2007. The company believes that Digipass for Web will be an important tool to reach that goal.
The swift rise of the number of new U.S. banks using VASCO is due to several reasons:
1. VASCO’s market strategy and execution towards banks works splendidly.
2. The recent FFIEC guidelines for strong authentication have created awareness in the American banking sector. E-security has become an issue;
3. VASCO has invested strongly into developing its sales machine in the United States. Those investments pay off;
4. The dense network of solution partnerships that VASCO has welded with e-banking infrastructure vendors brings VASCO in the reach of most – if not all – financial institutions;
5. Strong partnerships with the leading banking application providers.
VASCO’s core technology, VACMAN Controller, supports a wide array of client authentication products, hard- and software Digipass, certificates/USB products and password technologies such as TAN- and scratch list. Once the bank has integrated VACMAN Controller for a first application, it can pick the right kind of VASCO client authentication product for the right customer segment. This unique à la carte authentication offering is one of VASCO’s great assets and a huge competitive advantage.
“The fact that we won over one U.S. bank per working week during Q2 is clear evidence of the fact that our strategy for the North American market is working,” said Jan Valcke, VASCO’s President and COO. “Currently, fifty U.S. banks are using VASCO’s Digipass and VACMAN Controller or VACMAN Middleware for corporate e-banking., including five top-ten banks. With our array of close to fifty client authentication products, we are ready to make a further push into the U.S. e-banking market.”
About VASCO: VASCO designs, develops, markets and supports patented user authentication products for financial world, remote access, e-business and e-commerce. VASCO’s user authentication software is delivered via its Digipass hardware and software security products. With approx. 25 million Digipass products sold and delivered, including the units sold by AOS Hagenuk prior to our acquisition, VASCO has established itself as a world-leader for strong User Authentication with over 470 international financial institutions and approximately 2,600 blue-chip corporations and governments located in more than 100 countries.
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:
Jochem Binst, +32 2 609 9700, [email protected]