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7/31/2006
02:16 AM
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Authentium Intros ATM

Authentium announced VirtualATM, am SDK that allows banks and ISPs to create direct, secure, end-to-end connections with users

WEST PALM BEACH, Fla. -- Authentium, the leading provider of extensible security software technologies and service platforms, today announced VirtualATM (TM), a software developer's kit (SDK) that allows banks, financial institutions and ISPs to create direct, secure, end-to-end connections with users. VirtualATM prohibits hackers from intercepting communications and eliminates adverse affects from spyware or other malicious desktop agents. In the process, banks can create the most secure environment for online transactions, enable compliance with guidelines from the Federal Financial Instit utions Examinations Council (FFIEC), and provide additional safeguards for their customers' critical financial information.

Authentium's VirtualATM technology significantly limits the threat posed by online thieves and helps satisfy new FFIEC regulations. Financial institutions and their clients are currently facing a deluge of security threats. Consumers are regularly deceived by phishing e-mails, which pose as legitimate messages from financial institutions and attempt to coax personal information and passwords from victims. In addition, malicious spyware and screen-scraper technology embedded by hackers in seemingly harmless websites, downloads or e-mail can log keystrokes, capturing log-on data without the user even noticing.

In response, banks are looking to a variety of security technologies that meet or exceed industry regulations calling for stronger defenses. The FFIEC is mandating that online businesses implement stronger security technologies by the end of the year. Among the requirements, all consumer online banking must be protected by two-factor authentication, meaning that all online consumers must use two separate processes for accessing account information.

"This technology comes at a time when financial institutions are striving to find new ways to protect their customers and meet more stringent industry guidelines for authentication," said Scott Crawford, senior analyst at Enterprise Management Associates. "The online banking experience continues to be a primary target of attack, with the result that many consumers have justifiable concerns about conducting transactions online. Authentium's approach moves beyond traditional two-factor authentication to address a more insidious range of threats -- some of which may be deeply hidden -- which collectively pose one of the highest risks to consumer confidence in doing business online. The Authentium solution promises consumers the ability to be protected with little effort, and to conduct online transactions with higher confidence."

Authentium Inc.

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