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PSIS Chooses RSA SecurID to Safeguard All

  • 26 July, 2006 16:45

<p>RSA Security provides strong, two-factor authentication under the financial institution’s SafeKey program to combat online fraud and identity theft.</p>
<p>PSIS, one of New Zealand’s longest-serving financial organisations, has selected the RSA SecurID® solution to safeguard its Internet banking customers with strong, two factor authentication. PSIS will issue all online banking customers with the RSA SecurID® Authenticator product under the institution’s SafeKey program.</p>
<p>The customer’s identity will be verified in two ways; using something they know (a password) and something they have (a SafeKey hardware token). The token – small enough to put on a key ring – has an LCD display with displays a new, unpredictable code every 60 seconds. The user combines this randomly generated number with his or her secret Personal Identification Number (PIN) to log into their account via the PSIS Internet banking site.</p>
<p>PSIS is making the RSA SecurID Authenticator token available to all customers at no charge for the initial token and no ongoing monthly fees for the service.</p>
<p>At the New Zealand launch yesterday, RSA Security Country Manager Mark Pullen said, “Online fraud and identity theft is a global issue that has the potential to undermine trust and confidence in online banking and e-commerce. Standard passwords simply do not provide the level of security now required and two-factor authentication is becoming the industry standard. RSA SecurID Authenticator products are easy to use, yet are extremely secure. They are just as simple as entering a password, but offer much stronger protection to online banking customers. These tokens are also cost-effective for financial institutions to deploy and manage.”</p>
<p>PSIS chief executive, Girol Karacaoglu believes that the PSIS SafeKey system will find immediate acceptance with the approximate 60 percent of PSIS customers who are 45 years and younger.</p>
<p>“The SafeKey code is input, along with the customer’s username and password, whenever they log in to Internet Banking. The one-time codes are synchronised with our PSIS system, so we know the code belongs to the customer,” he said.</p>
<p>“We have introduced SafeKey as part of our commitment to making banking as convenient and secure as possible for our customers. In our 77-year history we have always been progressive and been at the forefront of technological developments to offer new and improved services.”</p>
<p>The Hon David Cunliffe, Minister for Information Technology, New Zealand, officially launched the service. The Minister said: “The introduction of strengthened security for Internet customers through authentication was a very important and necessary step. Internet Banking is increasingly becoming a preferred way for New Zealanders to manage their financial affairs.”</p>
<p>Other RSA Security customers in New Zealand include ASB Bank, Auckland City Council, Bank of NZ, Foodstuffs NZ, Kiwibank, Inland Revenue Department, and New Zealand Post.</p>
<p>About RSA Security Inc.</p>
<p>RSA Security Inc. is the expert in protecting online identities and digital assets. The inventor of core security technologies for the Internet, the Company leads the way in strong authentication, encryption and anti-fraud protection, bringing trust to millions of user identities and the transactions that they perform. RSA Security’s portfolio of award-winning identity &amp; access management solutions helps businesses to establish who’s who online – and what they can do.</p>
<p>With a strong reputation built on over a 20-year history of ingenuity, leadership and proven technologies, we serve more than 21,000 customers – including financial institutions representing hundreds of millions of consumers around the globe – and interoperate with greater than 1,000 technology and integration partners. For more information, please visit</p>
<p>RSA, RSA Security, SecurID and Secured are either registered trademarks or trademarks of RSA Security Inc. in United States and/or other countries. All other products and services mentioned are trademarks of their respective companies.</p>
<p>Media Contacts</p>
<p>Sarah Mulvin</p>
<p>(02) 9212-3848</p>
<p>Hwei Oh</p>
<p>RSA Security Australia Pty Ltd</p>
<p>(02) 9463-8407</p>

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