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Spokane Teachers Credit Union deploys Comodo Two Factor Authentication Solution to meet FFIEC guidelines

PKI based client certificates deliver strong identity assurance protection that is highly configurable at lowest cost solution on the market today

Jersey City, NJ (February 15, 2007) - Comodo, a global Certification Authority and leading provider of Identity and Trust Assurance Management solutions, announced today that Spokane Teachers Credit Union has deployed Comodo's S.A.F.E. solution (Secure and Authenticated Financial Engagements) for credit unions. First stage was the successful deployment of Comodo's PKI-based Two Factor (TF) authentication solution that complies with FFIEC guidelines.

Based on strong Public Key Infrastructure (PKI), the Comodo S.A.F.E solution includes Two Factor (TF) client certificates, Content Verification Certificates (CVC's), email certificates, EV high assurance SSL certificates, HackerGuardian vulnerability scanning and certification solution, and SiteMon website continuity service. Together, this leading edge solution provides ease of deployment, cost effectiveness and a highly secure PKI platform for mutual authentication processes.

COMODO S.A.F.E. SOLUTION SUMMARY

1) Two Factor (TF) Client Certificates for a High-Performance, Low Cost Solution with No Integration

Financial institutions are under pressure to comply with Federal Financial Institutions Examination Council (FFIEC) guidelines to strengthen their mutual authentication processes for online banking transactions.

The implementation of a multifactor solution requires ease of integration, ease of adoption by credit union members and ease of configurability. With Comodo TF, Spokane can support a high-performance two- factor solution while reducing operating costs. This two-factor solution offers significant advantages over other two factor solutions:

The only PKI based two factor solution – PKI is considered by analysts as one of the strongest forms of authentication available for online security
Lowest cost solution due to an established PKI infrastructure and digital certificate lifecycle management processes
Virtually the easiest multi-layer solution for members to adopt because there is no change in members' online banking behavior once a DigitalID has been created. Members conveniently continue to use their existing usernames and passwords.
High level of flexibility and configurability for the credit union
Solution can be deployed in days
Ease of customer support

"We've chosen to implement an approach that leverages the best-in-breed security while maintaining the convenience and ease-of-use of our online banking system," said Danny Jones, Web Solutions Manager of Spokane Teachers Credit Union. "From a deployment perspective, Comodo's authentication system provided rapid integration with minimal rollout dependencies, which is a major advantage over any other two-factor solution we evaluated."

Other key elements in Comodo's S.A.F.E. Solution that Spokane Teachers Credit Union may be deploying include:

2) Content Verification Certificates (CVC) that protect members from phishing, pharming, and man-in-the-middle attacks

The second part of the mutual authentication model includes Comodo's unique Content Verification Certificates that authenticate web content (such as a log-in box or graphics) to authenticate site identity. This is the only digital certificate on the market today that protects against man-in-the middle attacks as this solution alone delivers non-browser "green good to go" indicator confirming site identity.

With this technology, Spokane's members can verify the credit union's identity using a reader (VerificationEngine) which they download as easily as Adobe Reader™. Moreover, since VE now authenticates the identity of over 200,000 home page logos content, this solution delivers added-value to Spokane's members.

3) EV SSL Certificates - High Assurance SSL Certificates

These high assurance certificates provide encryption and authentication of business identity with a new confirming green indicator in the address bar delivered through the browser interface. This new class of SSL Certificates provides a new level of identity assurance for online banking customers and is a critical component of a fully integrated identity and trust assurance best practices approach to a trusted online banking experience.

4) Email certificates for Secure Email Communications

Email certificates will be used to digitally sign and encrypt sensitive communications, providing additional layers of security so that members' personal information remains protected.

5) HackerGuardian™ – Daily Vulnerability Scanning and Certification Solution

Hacker Guardian, a PCI approved scanning service will scan Spokane's web servers to ensure they are free of known security vulnerabilities that hackers exploit. After the daily scan confirms site safety, Spokane's site will display the certification seal, called HackerShield TrustLogo, confirming the site's safety from hackers. Members using VerificationEngine can verify this highly visible TrustLogo as authentic.

6) SiteMon – Website Continuity Monitoring Service

SiteMon is a website continuity monitoring service that automatically checks websites every 10 minutes to ensure they are up, running, and viewable to the public.

Comodo's S.A.F.E. Solution was developed specifically to address diverse, complex and urgent needs of financial institutions for a solution that is configurable and practical. "The FFIEC guidelines are meant to address the changing nature of online identity and trust assurance threats, said Andrew Pynes, Executive Vice President of Comodo. "These guidelines for financial institutions to do something this year require solutions that are highly secure yet non-intrusive to the online banking experience. Comodo can help thousands of financial institutions protect their customers and achieve compliance with the guidelines."

About Spokane Teacher Credit Union

Founded by educators in 1934, Spokane Teachers Credit Union is a member-owned, not-for-profit cooperative that delivers financial products and services, such as shared branching, online banking, and ATMs worldwide. Through innovation, attractive rates, and personalized service, STCU is committed to maximize members' financial health and security.

The largest credit union in the Inland Northwest, STCU reaches out to 70,000 members at ten locations throughout Eastern Washington and North Idaho. It is the third largest credit union in Washington, and one of the top 175 (out of over 9,400) credit unions in the United States.

About Comodo

Comodo is a leading global provider of Identity and Trust Assurance services on the Internet, with over 200,000 customers worldwide. With global offices in the US, UK, Ukraine and India, the company offers businesses and consumers the intelligent security, authentication and assurance services necessary to ensure trust in online transactions.

Comodo helps enterprises address digital ecommerce and infrastructure needs with reliable, third generation solutions that improve customer relationships, enhance customer trust and create efficiencies across digital ecommerce operations. Comodo's solutions include SSL certificates, Multi factor Authentication solutions, PCI compliancy services, Web Content authentication, Authentication email solutions, integrated Web hosting management solutions, infrastructure services, Desktop Security solutions, Code signing certification, digital e-commerce white list technologies, Two Factor identity assurance and vulnerability management solutions.

For more information, reporters and analysts may contact

Judy Shapiro
Comodo
(201) 963-9471
Email: judy.shapiro@comodo.com

Keely Barrett
Spokane Teachers Credit Union
(509) 344-2231
Email: keelyb@stcu.org

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