DENVER--(BUSINESS WIRE)--Sept. 5, 2006--id-Confirm, Inc. (OTCBB:IDCO) announced today the deployment of a SecureLink System pilot project at First PREMIER Bank of South Dakota. The id-Confirm SecureLink System(TM), an end-to-end biometric authentication system, will enable First PREMIER to test the dramatic enhancements to the security of their network and applications that four-factor biometric fingerprint authentication offers.
Most organizations face increasing pressure to secure access to their network and applications. Company-based passwords used for network log-in remains the weakest link in the security chain. According to Gartner, 70% of offenders who gain unauthorized access to information systems tend to be employees. More than 95% of these intrusions result in significant financial losses. So verifying user identities is the key to all security. SecureLink will, with 100% biometric guarantee, authenticate the identity of each and every employee.
Ranked by the ABA as one of the top-performing community banks in the United States, First PREMIER is among the nation's top 50, S Corp banks. With a strong focus on customer satisfaction, the bank decided to test the id-Confirm SecureLink System to bolster security and regulatory auditability.
The Information Technology department was issued an id-Confirm id4u(TM) personal authentication device, which is half the size of a small cell phone. The members of the staff "enrolled" a fingerprint on this device under the supervision of management. A mathematical representation of the fingerprint, as opposed to the fingerprint itself, is stored on the device to protect individual privacy rights and the same encrypted algorithm is stored on the id-Confirm Authentication Server, along with the customer's last name and password. Once the employee is enrolled, he or she will be asked to authenticate his or her identity whenever network access is initiated.
The employee is authenticated by scanning the enrolled finger over the id4u(TM) device, which generates an eight-digit alpha numeric one-time password (OTP) each time an individual swipes a finger. The OTP is verified against the backend authentication server and the transaction is approved or denied. The entire process requires 3-5 seconds to complete and offers a more robust, secure solution than alternative authentication options.
"Verifying user identities is the key to all security and biometrics seems to provide a simple, non-invasive way to benefit from the heightened security of biometrics without compromising personal privacy," said Dave Geiver, First PREMIER VP of Technology. The SecureLink pilot will be implemented in several phases. The first phase includes internal network authentication. The second phase will be targeted at the bank's mobile computing environment, where laptops and data will have secured access via biometric authentication. Other desired phases include remote VPN use and file transfer.
"Identity theft costs business and consumers billions of dollars each year and disrupts the lives of thousands," said Tom Breen, id-Confirm President and COO. "SecureLink gives financial institutions an economical, easy to deploy solution that's 100% biometrically secure, and market research shows that banking customers are highly enthusiastic about tools that can help them protect their hard-earned financial assets. We're very excited about working with First PREMIER to provide the authentication tools they need in today's electronic age"
About id-Confirm, Inc.
id-Confirm, Inc. (OTCBB:IDCO) is a publicly traded, Denver-based company that develops and implements patented biometric solutions to prevent personal identity theft and financial fraud. The SecureLink system is an end-to-end solution that prevents identity theft and associated fraudulent activities through four-factor biometric authentication technology that's portable, 100% biometrically secure and designed with the protection of individual privacy rights in mind. Additional information can be found at www.id-confirm.com.
About First PREMIER Bank
First PREMIER Bank, together with their sister organization PREMIER Bankcard, has over 2,300 employees and has been recognized in 2001, 2002, and 2003 by the ABA Banking Journal as the top-performing financial institution of its asset size in the country.
PREMIER Bankcard is one of the nation's leading credit card providers to the underserved, yet creditworthy market. They are among the top 11 VISA(R) and MasterCard(R) credit providers. Currently they serve over 3.7 million customers nationwide, and have achieved some of the highest service levels in the industry.
Notice Regarding Forward-Looking Statements:
This news release contains forward-looking statements, as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release which are not purely historical are forward-looking statements and include the ability of the id-Confirm SecureLink System to prevent identify theft or fraud, and any statements regarding beliefs, plans, expectations or intentions regarding the future, including, but not limited to, the capabilities and characteristics of the company's mobile biometric communications device. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with the development of an early-stage technology company and its products and the entry into new markets. These forward-looking statements are made as of the date of this news release, and id-Confirm assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our most recent annual report on Form 10-KSB, our quarterly reports on Form 10-QSB and other periodic reports filed from time to time with the Securities and Exchange Commission.
CONTACT: The Catalyst Group, Inc. for id-Confirm, Inc. Enrique Salinas, 727-796-2555 [email protected] KEYWORD: COLORADO SOUTH DAKOTAINDUSTRY KEYWORD: HARDWARE BANKING SOFTWARE NETWORKING PRODUCTSOURCE: id-Confirm, Inc.
