NW_20000525_en_Chicago Clearing House Association Selects VASCO for e-commerce Security
OAKBROOK TERRACE, Illinois, May 25, 2000 - VASCO Data Security International, Inc. (NASDAQ: VDSI; EASDAQ: VDSI; www.vasco.com), a leading provider of Internet and enterprise-wide security solutions, announced today that the Chicago Clearing House Association (CCHA) has selected VASCO's Digipass™ authentication technology to secure its innovative EDIBANX web-based cash letter adjustment service. The association, which provides check clearing and settlement services totaling more than $2.5 billion daily for eight member banks and 400 affiliates, will begin operation of EDIBANX next month for its member banks. The CCHA expects clearinghouses and banks around the world to be potential users of the secure e-commerce product.
"EDIBANX revolutionizes the entire cash letter adjustment system, using the capabilities opened up by the Internet and internationally accepted adjustment standards," explained Paul O'Toole, Vice President of CCHA. "Working with our member banks we've taken a highly manual, time-consuming, paper-based process - which is essentially unchanged from how it was practiced by banks a century ago - and made it faster, easier, and more cost-effective. And because of the sensitive nature of the information we will be putting on the Internet, we looked for a proven Internet security solution to protect our members and customers. After a thorough evaluation, we decided on Digipass security."
VASCO's Digipass technology now protects the identity, information, and transactions of millions of customers at more than 130 financial institutions around the world. Another key factor in the decision was the fact that the EDIBANX developers were able to easily integrate the Digipass authentication module directly into the software - eliminating the need for extra authentication servers.
"We're pleased to have Chicago Clearing House Association join VASCO's ever-growing US customer base," said Jan Valcke, Vice President and General Manager of VASCO's IdentiSoft Division. "EDIBANX is the kind of innovative application that leverages the capabilities of the Internet to transform business processes, and VASCO provides CCHA with e-commerce security that reassures the Association and its customers that the Internet can be a safe place to do business."
About VASCO
VASCO helps organizations rapidly and effectively secure their e-business and e-commerce applications and services. The company's family of Digipass™, VACMAN®, and SnareWorks™ products offers end-to-end security through true Single Sign-On, PKI, web security, strong user authentication, access control, centralized user administration and encryption solutions that also sharply reduce the time and effort required to deploy and manage them. With hundreds of financial institutions, blue-chip corporations, and government agencies as customers in more than 50 countries, VASCO Data Security is a global leader in security solutions that support the Internet economy. More information is available at www.vasco.com and www.isoft.com.
About CCHA
The Chicago Clearing House Association, formed in 1865 by Chicago's largest banks, was established to facilitate exchanges between affiliates and to provide for settlement of balances resulting from such exchanges. It is a voluntary, not-for-profit association. CCHA provides check clearing and settlement services totaling more than $2.5 billion daily for the eight member banks and 400 affiliates throughout Illinois, Indiana, Michigan, Minnesota, Ohio and Wisconsin. Member banks are American National Bank & Trust Company of Chicago, Bank One, Bank of America, Cole Taylor Bank, Harris Trust and Savings Bank, LaSalle Bank N.A., The Northern Trust Company, and US Bank. More information is available at www.chgo.org/ccha/.
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 please contact:
Americas:
Media: Kerry Roche, Bridgeman Communications, +1 617 742 7270, [email protected]
Investor Relations: Todd Fromer, KCSA Public Relations Worldwide, +1 212 682 6300, [email protected]
VASCO: Mike Lange, +1 630 932 8844, [email protected]
Europe/Asia:
Media (Benelux): Bob Pieters, Anthonissen & Associates, +32 3 286 7777, [email protected]
Media (Europe/Asia): Sven Kersten, HBI, +49 89 99 38 87 33, [email protected]
Investor Relations: Annemieke Blondeel, LBConsult, +44 208 308 7080, [email protected]
VASCO: Ariane Bosmans, +32 2 456 9810, [email protected]