Vasco Data Security (Nasdaq: VDSI), a leading software security company specializing in authentication products, today announced its Digipass as a Service (DaaS) authentication model.
DIGIPASS as a Service (DaaS) is the newest service solution added to VASCO's existing end-to-end authentication product suite. DIGIPASS as a Service (DaaS) goes beyond simple Authentication as a Service with a complete platform that incorporates the user, the enterprise and e-commerce. As such, DIGIPASS as a Service offers on demand identity and transaction security.
Up to 2005, VASCO's was primarily a hardware authentication vendor to the financial world. As this business grew, the company's gross margin was under pressure.
In 2006, VASCO launched its Full Option, All-Terrain authentication strategy, resulting into its end-to-end business model. VASCO added the enterprise security market and indirect channel to its scope, as well as expanded its reach into key consumer applications like electronic gaming. In the product field, VASCO strengthened its server offerings and developed its software DIGIPASS product line. Those combined efforts resulted in a healthy business mix and bottom line.
Today, the company is expanding its offering based on the needs of the growing online application market. Many service providers are challenged with the costs associated with adding strong authentication. In addition, some providers have barriers to implement customer security due to a low frequency of user, nominal transaction values, or lack of resources required to distribute hardware and/or software to the end user. DaaS will be offered to bring VASCO authentication to such customers.
DIGIPASS as a Service is offered to allow customers to secure a multitude of enterprise and end-user applications with one DIGIPASS. Today, companies are securing access to their webmail, network, ERP, and CRM systems with one DIGIPASS. The DaaS authentication service is building on this existing model and providing a platform where consumers can access their online bank, buy tickets over the Internet, play games, and access his/her social network account with o ot with one DIGIPASS.
For end users, password management is often a nightmare. They have different passwords for their bank, their social network account, their credit cards, and their webmail. VASCO's goal is to enable a user to have access to countless applications with only one DIGIPASS. With DaaS, VASCO makes this possible.
For application owners and companies, the benefits of VASCO's DaaS are obvious:
• Lower Total Cost of Ownership
• Ease of distribution and fulfillment
• Shared back office costs
• Time to Market
• Protection against lost revenue due to account sharing
In addition, DIGIPASS as a Service (DaaS) provides an opportunity for:
• Additional Services to end users
• Potential source of revenue
• Cross Marketing with leading global providers
"The launch of VASCO's DIGIPASS Authentication Services (DaaS) offering is a major step in the company's evolution," said Jan Valcke, VASCO's President & COO. "We believe that the combination of VASCO's DaaS with our existing end-to-end authentication solutions is bringing any existing online application into the reach of VASCO's market leading DIGIPASS authentication."
"Currently, a high number of online applications and their users aren't able to benefit from enhanced security such as strong authentication," Valcke stated. "Possible barriers are a low frequency of use of the application or the relatively low monetary value of the account. Nevertheless, these applications can also have a high value to the end user. For VASCO, all online applications have the right to be protected with best-of-breed DIGIPASS authentication."