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ICT wins Industrial Bank of Korea deal

10 January 2008  |  2809 views  |  0 Source: Innovative Card Technologies

Innovative Card Technologies (NASDAQ:INVC), developers of the breakthrough ICT DisplayCard security device for e-banking, e-commerce and data access, today announced that Industrial Bank of Korea (IBK) will distribute 12,000 ICT DisplayCards to its employees to authenticate internal systems logon.

IBK joins a distinguished group of global financial institutions that are embracing the ICT DisplayCard for multifactor authentication, and is the first firm in the region to use the card in a data systems access application.

"We are excited to use this cutting-edge technology to authenticate our employee's internal systems account access," said Ko Wan-Seon, Deputy General Manager of the Information System Department of IBK. "Because the ICT DisplayCard provides the strong security of a one-time passcode in an extremely user-friendly package, we chose the ICT DisplayCard over many other solutions on the market, including bulky tokens."

IBK will distribute the ICT DisplayCard to its employees company-wide. The bank, which provides a full suite of financial services to both consumers and corporations, has 473 branches in Korea and international offices in New York, Tokyo, Hong Kong, Tianjin, Quingdao, Shenyang and Ho Chi Minh.

IBK is receiving the cards through Innovative Card Technologies' reseller Innet, which has successfully gained approval from the Korean government's Financial Security Agency to distribute the ICT DisplayCard.

"This commitment from Industrial Bank of Korea further demonstrates the Korean market's receptiveness to our wafer-thin one-time passcode card," said Steven R. Delcarson, Innovative Card Technologies CEO and President. "Other projects in the region include two consumer online banking authentication roll-outs; one that has been successfully delivered, and another that is in production. We are excited to begin authenticating internal systems logins for Industrial Bank of Korea, our first data access application in Korea."

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