ActivCard inks new Swedbank contract

Source: ActivCard Corp.

ActivCard Corp. (Nasdaq: ACTI), a leading provider of identity assurance solutions, today announced that FöreningsSparbanken (Swedbank), based out of Sweden, has chosen ActivCard to deploy secure Internet access for approximately 600,000 more Internet banking customers, bringing the total deployment to over 2 million online retail banking customers in the near future, probably representing one of the largest such retail banking deployments in the world.

ActivCard technology will therefore be used by more than 80 percent of Swedbank's online customers. With a lower total cost of ownership, ActivCard provided products that would better fit Swedbank's requirements for Swedbank's customers and also for their internal use. Banks, such as Swedbank, that deploy strong authentication to retail banking customers, are raising the standards on the added services that banks provide.

According to a March 2005 report from the Anti-Phishing Working Group, the most targeted industry for phishing attacks continues to be the financial services sector. Given that, Swedbank customers are at ease knowing that their financial information and assets are secure. Using ActivCard's end-to-end solution, customers authenticate themselves to the bank's web site, giving them the ability to perform e-banking and e-commerce transactions securely and efficiently, safeguarding their identities and assets.

"As a financial services leader, it is important that we offer online services with advanced security services to our customers. They can therefore manage their personal and financial information, as well as buy more products and services online in a trustworthy manner," said Christer Cragnell, CIO at Swedbank. "ActivCard has supported us for many years with secure token solutions in our e-banking deployment, and we have now decided to extend our relationship with them."

"Swedbank has always been a bank at the leading edge, with regards to online services and e-commerce, both for retail and corporate customers. The fact that Swedbank chose us over all other competitors for the world's largest deployment is a great endorsement for us," said Marc Hudavert, Vice President and General Manager of ActivCard Europe. "Key industry organizations are calling for stronger authentication and Swedbank's forward thinking approach to protecting its customer's assets and developing more advanced online services for their customers should be applauded."

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