Advanced Bank Solutions Teams Up With IronKey Trusted Access Platform

PRESS RELEASE

OLATHE, Kan. and SUNNYVALE, Calif. – Sept. 27, 2011 – Advanced Bank Solutions, a solutions provider to the financial services industry, is teaming up with IronKey to provide their bank clients with IronKey Trusted Access Platform, the next generation of online banking security that delivers multiple layers of security integrated to effectively reduce the risk of online banking fraud. This enables banks to meet new Federal Financial Institutions Examination Council (FFIEC) guidance for preventing online banking fraud by the January 2012 deadline. IronKey Trusted Access also provides a new competitive tool for banks to differentiate their brand and acquire new customer business.

The Trusted Access Platform helps stop criminal attacks from malicious software such as ZeuS, SpyEye, Sunspot and OddJob, as well as new threats that continue to evolve. According to research firm Gartner, Inc., crimeware designed to take over online banking accounts and steal money is now the most significant threat concerning U.S. banks. In August, the FS-ISAC report online banking account takeovers grew over 150 percent in 2010.

"While our bank customers have built strong internal security controls, financial institutions of all sizes are finding their customers increasingly under attack on their own computers," said Sandy Moll of Advanced Bank Solutions. "The Trusted Access Platform allows our clients to start preventing fraud where it matters most: on their customers’ computers. Trusted Access keeps fraudsters out of online accounts unlike one-time passcode tokens and other controls that fail to stop criminal attacks on bank customers’ computers. And Trusted Access offers a simple and integrated approach to achieving FFIEC and reducing risk over time with multiple layers of security.”

With the Trusted Access Platform, banks can start with secure browsing to reduce the risk of online account takeovers where criminal attacks take place – on the bank customers’ computers – and add additional layers of security as needed. The IronKey Trusted Access Secure Browser is an intelligent security software and Internet security service that is easy to use. Trusted Access provides a secure Web browser protected in a fully virtualized, read-only environment tailored to protect online banking sessions from known and unknown crimeware. Trusted Access is designed to protect online banking sessions from keyboard logging, man-in-the-browser, ‘backconnect’ Trojan, and DNS tampering attacks. Even if a computer is infected with malware, the online banking session should remain safe, secure, and private; attacks that would go undetected by anti-virus and other software technologies are completely blocked.

“Trust is a cornerstone for banks and online banking fraud presents a significant challenge. Add to this the FFIEC January 2012 compliance deadline and banks are facing a daunting set of challenges," said May Mitchell, vice president Global Channel and Alliances at IronKey. “ABS and IronKey are working together to help banks achieve FFIEC compliance and protect their customers. And our combined solutions are enabling banks to use security as a competitive differentiator to drive new customer acquisition.”

The Anti-Phishing Working Group estimates that 25 percent of all computers are infected with crimeware designed to steal money. Today's anti-malware software fails to detect these threats at least 75 percent of the time according real-time research from SpyEye Tracker (1). As a result, online banking account takeovers are growing at over 150 percent based on new research published by FS-ISAC (Financial Services Information Sharing and Analysis Center).

More information about Advanced Bank Solutions and IronKey's Trusted Access for Banking is available online.

(1) SpyEye Tracker, September 9, 2011, https://spyeyetracker.abuse.ch/###

About IronKey

Ranked by the Wall Street Journal as the 14th best venture-funded company in their "Next Big Thing 2011" survey, IronKey secures data and online access with software and hardware solutions managed through cloud-based services. IronKey’s award-winning Trusted Access Platform helps financial institutions reduce the risk of online fraud, achieve compliance with Federal Financial Institutions Examination Council (FFIEC) guidelines, and acquire new customers with a competitive advantage. Starting with secure browsing that keeps customers safe from crimeware attacks on their PCs, banks can add multiple layers of security to meet the needs of client risk and value. Visit www.IronKey.com for more information.