S1 Corporation to use Cleared Security Platform for Teller Identification...
Wednesday August 13, 10:51 am ET
ARLINGTON, Va., Aug. 13 /PRNewswire/ - Atlanta-based S1 Corporation and Priva Technologies, Inc. today announced that Priva's Cleared Security Platform(TM), the first to offer up to four factors of identity verification, has been integrated into the latest release of the S1 Teller solution.
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S1 is a leading global provider of enterprise software solutions to banks, credit unions, insurance providers, and investment firms. The company said it has put the Cleared(TM) technology through a full battery of quality assurance testing at its West Hills, Calif. development center. The platform was "straightforward to integrate and will become part of our newest branch automation solution," according to Bob Pill, S1's vice president for development.
S1 will demonstrate the new system with the integrated Cleared Security Platform to its branch banking customers at the company's Catalyst Customer Conference in Orlando, August 25 through 28.
The Cleared platform uses a patent-pending microchip, the ClearedChip(TM), to provide authenticated access to computer networks while protecting data against intrusion. Initially, the Cleared platform, which features a key-like USB token with built-in biometrics to authenticate users, will be employed in teller sign-on applications, but the same system can be extended in the future to provide other internal and external applications, according to Jeff Minushkin, CEO and founder of Priva, which is based in Arlington, VA.
"For a banking institution looking for a superior secure authentication technology, Priva offers a strong value proposition," said S1's Pill.
"The tool kit that was provided for the platform will make it simple for branch banking users to extend its use beyond teller sign-on to other legacy and custom-designed applications in the future, further increasing the cost benefit aspects of the technology," said Priva's Minushkin.
"The Cleared platform enables a bank to identify individuals accessing its systems and allows employees to conveniently gain access to the bank's computer systems using a ClearedKey(TM), a device that enables robust user authentication and incorporates at least four factors to validate the identity of the user through interactions with a host-based authentication server called the ClearedHost(TM)," explained Priva's Minushkin..
The ClearedChip contains several secure memory areas, which can be used for special purpose solutions. S1 has opted to use one of these secure areas for offline biometric authentication, a feature that will allow tellers to continue working in the event that their networks are temporarily unavailable.
The platform comes with its own API Tool Kit, a set of utilities that allows that enterprise user "to quickly and seamlessly integrate existing legacy programs and to create new ones that can be custom tailored to the user's needs," Minushkin noted.
"The utility of the Cleared platform, the combination of the ClearedHost server and the API Tool Kit, sets it apart from other systems. In the world of commerce it allows the creation of trusted connectivity, allowing organizations to adapt important, specialized business development and enhancement applications that provide measurable ROI. In government, it provides an open development capability that permits maximum flexibility in the design of specialized and secure authentication and access control programs."
ABOUT PRIVA TECHNOLOGIES
Priva Technologies, Inc. provides a stand-alone, secure authentication solution for the builders, owners and managers of transaction systems that utilize, or should utilize authentication security. These include, applications that provide business-to-business transactions, enterprise security, secure e-mail, single-sign-on, travel reservations, online and offline purchases, payment services, banking, and financial products which are all empowered by user-friendly, highly secure authentication. Unlike other technologies that are notoriously hard to install or scale, have limited flexibility or are difficult for individuals to use, Priva's authentication system easily integrates with all sizes of enterprises and provides clear convenience for consumers. Priva, a privately held Delaware corporation, is headquartered in Arlington, VA, with engineering and technology facilities in Cupertino, CA.
ABOUT S1 CORPORATION
S1 (Nasdaq: SONE - News) is a leading global provider to approximately 4,000 banks, credit unions, insurance providers, and investment firms of enterprise software solutions that create one view of customers across multiple channels, applications and segments. S1's Enterprise solutions uniquely combine customer interaction and financial transaction capabilities, resulting in a more compelling experience for the customers and a more profitable relationship for the financial institution. S1 is the only provider with the proven experience, breadth of products, and financial strength to empower financial services companies' enterprise strategies. Additional information about S1 is available at www.s1.com.
FORWARD-LOOKING STATEMENTS
This press release contains forward-looking statements within the safe harbor provisions of the Private Securities Litigation Reform Act. These statements include statements with respect to our financial condition, results of operations and business. The words "believes," "expects," "may," "will," "should," "projects," "contemplates," "anticipates," "forecasts," "intends" or similar terminology identify forward-looking statements. These statements are based on our beliefs as well as assumptions made using information currently available to us. Because these statements reflect our current views concerning future events, they involve risks, uncertainties and assumptions. Therefore, actual results may differ significantly from the results discussed in the forward-looking statements. The risk factors included in our reports filed with the Securities and Exchange Commission (and available on our web site at www.s1.com or the SEC's web site at www.sec.gov) provide examples of risks, uncertainties and events that may cause our actual results to differ materially from the expectations we describe in our forward-looking statements. Except as provided by law, we undertake no obligation to update any forward-looking statement