FFIEC News

1st Source Corporation Selects Bharosa to Meet FFIEC Year-End Deadline

(Dec 22, 2006)--1st Source Bank ,a locally controlled financial institution headquartered in the northern Indiana-southwestern Michigan area, said that it  will use Bharosa's solution to provide advanced security for its online banking clients. Bharosa's Authenticator and Tracker products are helping industry leading financial institutions deploy consumer-friendly security measures and quickly comply with the Federal Financial Institutions Examination Council (FFIEC) year-end deadline calling for secure Internet banking practices.

"Our aim at 1st Source is to provide exceptional client service," said Don Miller, Senior Vice President, Operations Group, of 1st Source Corporation. "Because protecting our online users against growing fraud threats and complying with industry guidelines are top priorities, we selected Bharosa to help us enhance our client service by providing a 'quick-to-market' solution that offers the most advanced fraud detection and authentication capabilities in a cost-conscious manner."

(Dec 22, 2006)--1st Source will deploy several software products from Bharosa, including Bharosa Tracker real-time fraud detection and strong, multifactor authentication to provide enhanced security for online users. With over a century long history, 1st Source continues to distinguish itself with innovative products and highly personalized services and is proud of its tradition of providing superior products to customers.

By utilizing Bharosa's solution, 1st Source will offer its customers an easy-to-use, yet highly secure way to protect online activities. Equally important, by using Bharosa's Universal Installation Option (UIO), which enables seamless integration with 3rd party banking platforms, 1st Source will be able to greatly enhance Internet security measures and meet regulatory deadlines without significant deployment effort.

In a recent report by Javelin Strategy and Research entitled "Beyond FFIEC Compliance: Creating an Evolving Authentication Platform for Higher Lifetime Consumer Value," Bharosa was ranked highly in the top tier of providers capable of delivering solutions that successfully achieve the balance between effectiveness and customer convenience in the presence of a continually shifting landscape. Using Bharosa, clients can be authenticated using multiple factors such as the device used to login, the user's geographic location or behavioral profiles within the Bharosa Tracker, and by employing Bharosa Authenticator for incremental levels of security. Tracker scores risk and alerts an organization in real-time to potential fraud threats and can also request secondary forms of authentication for suspicious or high-risk transactions.

"Utilizing Bharosa products, 1st Source will be able to strengthen online security measures and address the growing sophistication of Internet threats without significant development effort or impact to the online experience," said Jon Fisher, Bharosa CEO. "It is important to not only help our customers quickly comply with the FFIEC guidelines in a cost-effective manner, but also to implement a long-term, customer friendly fraud strategy for their organization."

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