uMonitor - Parsam Technologies Press Releases



uMonitor & CRYPTOCard Corporation Partner to Offer Secure Solutions to Financial Institutions
Memphis, Tennessee – November 3, 2005 - Parsam Technologies, the leading provider of uMonitor financial technologies for credit unions and banks, and CRYPTOCard Corporation, an established world leader in authentication technology, today announced a partnership that will make it simple for financial institutions to positively identify each individual customer with secure two-factor authentication to ensure protection against identity theft and online fraud.
With the growing threat of identity theft from online fraud and phishing scams, financial institutions are always looking for ways to protect their consumers. Credit unions and banks utilizing uMonitor solutions can offer added protection to their consumers through CRYPTOCard’s two-factor authentication technology. CRYPTOCard's technology makes it simple to positively authenticate a user's identity by coupling something in the user's possession (a smart card, USB token, hardware token, or software token), with something the user knows (their PIN), and generates a unique password for every log-on attempt – making stolen credentials useless to any form of hacker. Working with CRYPTOCard solutions, uMonitor implements real-time risk management solution to authenticate users. “As the numerous recent high-profile breaches underscore, static passwords simply do not provide financial institutions with any real protection against hackers and phishers,” stated Malcolm MacTaggart, President and CEO of CRYPTOCard Corporation. “By combining CRYPTOCard two-factor authentication technology with uMonitor solutions, financial institutions can provide the comprehensive security measures required to safeguard their customers against online fraud,” MacTaggart continued. “Our partnership with uMonitor will make deploying this critical layer of authentication security a simple and cost-effective reality for financial institutions of all sizes.” “We believe our partnership with CRYPTOCard Corporation will provide financial institutions with state-of-the-art solutions to improve comfort and security for their customers. With online fraud and identity theft on the rise, uMonitor strives to provide financial institutions with the latest advancements in security and authentication with its services,” said Dinesh Sheth, CEO of Parsam Technologies. “CRYPTOCard’s proven technology has been deployed by many institutions in over 70 countries. This partnership will enable many financial institutions to accelerate their deployment of two factor authentication,” he added. uMonitor is recognized in the financial services industry for delivering highly dependable services to meet credit union and bank requirements – the best technology, exceptional customer service, and fast system implementation – at a very affordable price. About CRYPTOCard Corporation Established in 1989, CRYPTOCard provides cost-effective Secure Password Technology to leading enterprises worldwide in the government, technology, aerospace, financial, telecommunications, and healthcare sectors. Winner of such highly-prestigious honors as the “Best of Show,” award at Macworld and the “Best Security Product,” at Comdex, CRYPTOCard positively authenticates a user’s identity by coupling something in the user’s possession (a smart card, hardware token, or software token), with something the user knows (their PIN), and provides centralized authentication for all physical and network access regardless of network infrastructure or user location. CRYPTOCard’s partners include Citrix (Nasdaq: CTXS), Microsoft (Nasdaq: MSFT), Apple (Nasdaq: AAPL), Cisco (Nasdaq: CSCO), Check Point (Nasdaq: CHKP), Entrust (Nasdaq: ENTU), Oracle (Nasdaq: ORCL), Sun Microsystems (Nasdaq: SUNW), and Macromedia (Nasdaq: MACR). For additional information on CRYPTOCard, please visit www.cryptocard.com.
About uMonitor – Parsam Technologies uMonitor financial technologies offer a wide range of online solutions specifically designed to help financial institutions provide the most up-to-date services. These highly configurable and customizable solutions enable financial institutions to increase profitability, generate revenue, improve regulatory compliance, and improve employee productivity while reducing costs. uMonitor technologies include New Account Setup and Online Funding with Switch Kit, New Loan Application Processing, Funds Transfer Service, Bill Presentment and Payment Solutions, Premium Account Aggregation Service, Document Management System, Advisor-Client Relationship Management and other services. For more information, please visit www.umonitor.com or contact Gillian Smoot at gsmoot@umontitor.com or by phone at 901.757.1212, ext.7115.
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