FFIEC News

Fundtech and VASCO partnership allows banks to meet the FFIEC authentication guidelines

(May 08, 2007)-- The security awareness in the U.S. banking sector has been rising recently due to a number of factors. Fraudulent tactics such as Phishing, pharming and man-in-the-middle attacks have hit the industry hard, and banks are now looking for solutions that can protect their customers and their core business. To address these issues, the Federal Financial Institutions Examination Council (FFIEC) has published guidelines titled “Authentication in an Internet Banking Environment.”

Fundtech Ltd. and VASCO Data Security International, Inc. have announced that their joint approach in the U.S. banking market has resulted in several customer wins.

The combination of Fundtech’s cash management and payments banking software and VASCO’s VACMAN Controller/Digipass strong authentication technology creates an easy to install and use secure online banking solution. The joint product offering between Fundtech and VASCO allows banks to meet the FFIEC authentication guidelines.

“We are pleased to partner with the industries’ leading provider of authentication security solutions,” states Michael Sgroe, President and COO, Fundtech. “We have embedded VASCO’s VACMAN Controller into our solutions to make it easy for banks to implement and administer authentication in their operations. The embedded solution is a unique offering that other cash management vendors do not provide. It is yet another example of how Fundtech has helped to reduce fees and streamline operations for banks.”

“The success of Fundtech and VASCO proves that U.S. banks see it as their duty to secure their customers against online fraud,” said Jan Valcke, VASCO’s President and COO. “We are convinced that together we will make the Internet a more secure place for e-banking.”

Share or bookmarklet this web page at: