Spokane Teachers CU Deploys Comodo Two Factor Authentication Solution To Meet FFIEC Guidelines

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Released on: 15, February 2007
, Author: Comodo Group
, Audience: Internet related

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Jersey City, NJ (February 15, 2007) - Comodo, a globalCertification Authority and leading provider of Identity and Trust AssuranceManagement solutions, announced today that Spokane Teachers Credit Union hasdeployed 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-basedTwo Factor (TF) authentication solution that complies with FFIEC guidelines.

Based on strong Public Key Infrastructure (PKI), the Comodo S.A.F.E solutionincludes Two Factor (TF) client certificates, Content Verification Certificates(CVC's), email certificates, EV high assurance SSL certificates, HackerGuardianvulnerability scanning and certification solution, and SiteMon website continuityservice. Together, this leading edge solution provides ease of deployment, costeffectiveness and a highly secure PKI platform for mutual authentication processes.COMODO S.A.F.E. SOLUTION SUMMARY1) Two Factor (TF) Client Certificates for a High-Performance, Low Cost Solutionwith No Integration

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

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

* The only PKI based two factor solution  PKI is considered by analysts as oneof the strongest forms of authentication available for online security * Lowest cost solution due to an established PKI infrastructure and digitalcertificate lifecycle management processes * Virtually the easiest multi-layer solution for members to adopt because thereis no change in members' online banking behavior once a DigitalID has beencreated. Members conveniently continue to use their existing usernames andpasswords. * 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 securitywhile maintaining the convenience and ease-of-use of our online banking system,"said Danny Jones, Web Solutions Manager of Spokane Teachers Credit Union. "From adeployment perspective, Comodo's authentication system provided rapid integrationwith minimal rollout dependencies, which is a major advantage over any othertwo-factor solution we evaluated."

Other key elements in Comodo's S.A.F.E. Solution that Spokane Teachers Credit Unionmay 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 ContentVerification Certificates that authenticate web content (such as a log-in box orgraphics) to authenticate site identity. This is the only digital certificate on themarket today that protects against man-in-the middle attacks as this solution alonedelivers non-browser "green good to go" indicator confirming site identity.

With this technology, Spokane's members can verify the credit union's identity usinga reader (VerificationEngine) which they download as easily as Adobe ReaderÂ.Moreover, since VE now authenticates the identity of over 200,000 home page logoscontent, 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 businessidentity with a new confirming green indicator in the address bar delivered throughthe browser interface. This new class of SSL Certificates provides a new level ofidentity assurance for online banking customers and is a critical component of afully integrated identity and trust assurance best practices approach to a trustedonline banking experience.4) Email certificates for Secure Email Communications

Email certificates will be used to digitally sign and encrypt sensitivecommunications, providing additional layers of security so that members' personalinformation remains protected.5) HackerGuardian  Daily Vulnerability Scanning and Certification Solution

Hacker Guardian, a PCI approved scanning service will scan Spokane's web servers toensure they are free of known security vulnerabilities that hackers exploit. Afterthe daily scan confirms site safety, Spokane's site will display the certificationseal, called HackerShield TrustLogo, confirming the site's safety from hackers.Members using VerificationEngine can verify this highly visible TrustLogo asauthentic.6) SiteMon  Website Continuity Monitoring Service

SiteMon is a website continuity monitoring service that automatically checkswebsites every 10 minutes to ensure they are up, running, and viewable to thepublic.

Comodo's S.A.F.E. Solution was developed specifically to address diverse, complexand urgent needs of financial institutions for a solution that is configurable andpractical. "The FFIEC guidelines are meant to address the changing nature of onlineidentity and trust assurance threats, said Andrew Pynes, Executive Vice President ofComodo. "These guidelines for financial institutions to do something this yearrequire solutions that are highly secure yet non- intrusive to the online bankingexperience. Comodo can help thousands of financial institutions protect theircustomers 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 asshared branching, online banking, and ATMs worldwide. Through innovation, attractiverates, and personalized service, STCU is committed to maximize members' financialhealth and security.

The largest credit union in the Inland Northwest, STCU reaches out to 70,000 membersat ten locations throughout Eastern Washington and North Idaho. It is the thirdlargest 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 theInternet, with over 200,000 customers worldwide. With global offices in the US, UK,Ukraine and India, the company offers businesses and consumers the intelligentsecurity, authentication and assurance services necessary to ensure trust in onlinetransactions.

Comodo helps enterprises address digital ecommerce and infrastructure needs withreliable, third generation solutions that improve customer relationships, enhancecustomer trust and create efficiencies across digital ecommerce operations. Comodo'ssolutions include integrated Web hosting management solutions, infrastructureservices, digital e-commerce services, digital certification, identity assurance,customer privacy and vulnerability management solutions. For additional informationon Comodo - Creating Trust Online - please visit: www.comodo.com.


Source: Express-Press-Release.com
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