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Comodo S.A.F.E. Solution is First Tool to Enable Best Practices for Financial Institutions Identity and Trust Assurance Online
Comodo Technologies Provides Online Financial Institutions with Toolkit Architecture To Address Regulatory Compliance and Bring Trust Back Online for Consumers
Jersey City, NJ (January 24, 2006) - Comodo Inc., a global leader in Identity and Trust Assurance (ITA) Management solutions, announced today the availability of its S.A.F.E Solution (Secure and Authentic Financial Engagements) for online financial institutions. The new toolkit and business processes is the only solution that enables a true best practices approach for financial institutions as outlined by the Federal Financial Institutions Examination Council (FFIEC). With these integrated preventive and proactive identity assurance tools, banks can better address the growing issue of online fraud, a threat that is increasing at a rate of 18% per year.
Today, phishing, pharming and online fraud are growing as fast as online sales, which topped $136 billion in 2004 according to Forrester. To counteract this trend, FFIEC promotes best practices for financial institutions to provide mutual Multi-Factor transaction authentication online - meaning that consumers are able to verify the legitimacy of the Websites before and during the transaction, and that banks can authenticate users with a two-factor process. Only Comodo's ITA S.A.F.E. toolset can accomplish this best practices standard by empowering banking customers with new mechanisms and technologies to proactively authenticate the website thus protecting their digital identities. In this environment, Comodo's core competency in identity assurance becomes the main platform for a differentiated and integrated solution that provides preventative and remedial solutions to engender customer online banking confidence.
"ITA S.A.F.E. not only helps banks best address regulatory compliance, but enables them to provide the most secure online transactions for their customers," said Melih Abdulhayoglu, President and CEO of Comodo. "By doing this, banks can recognize reduced operational and customer support expenses, mitigate risk in a proactive manner, and most importantly, increase customer trust online."
The fundamental components of the S.A.F.E. Solution include both products and services configurable to specific customer strategies, needs and requirements. The core products available within the toolkit include:
- ITA infrastructure enablers such as vulnerability scanning with Hacker Guardian, eMerchant payment gateways and LINUX based solutions via the Comodo Trustix Suite;
- ITA Tools such as high assurance SSL certificates to encrypt and authenticate business legitimacy and Content Verification Certificates (CVC) that brings irrefutable verification capability to web content through a non browser bound, highly visible monitor indicator
- ITA consumer services for new bank revenue streams such as ID Protection Services
- ITA based secure collaboration products including TrustFax and ComodoMeet, an web conferencing service and eMerchant Payment Gateways;
The product offerings within the S.A.F.E. Solution can be leveraged with a fully integrated services program to support banking customers. This consists of free access to Comodo's LaunchPad security suite which includes personal email certificates, personal firewall, an anti SPAM solution, access to IdAuthority, Web authentication and a password manager.
About Comodo
Comodo is a leading global provider of Identity and Trust Assurance services on the Internet, with over 200,000 customers worldwide. Headquartered in Jersey City, NJ with global offices in the UK, Ukraine, Norway and India, the company offers businesses and consumers the intelligent security, authentication and assurance services necessary to ensure trust in online transactions.
As a leading Certification Authority, and in combination with the Digital Trust Lab (DTL), 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 integrated Web hosting management solutions, infrastructure services, digital e-commerce services, digital certification, identity assurance, customer privacy and vulnerability management solutions. For additional information on Comodo - Creating Trust Online™ - please visit: www.comodo.com.
