Corillian touts Intelligent Authentication technology

Source: Corillian

Corillian Corp. (NASDAQ: CORI), the top provider of anti-fraud, online banking and online payments solutions to the financial services industry, today reported tremendous adoption of its recently announced Corillian Intelligent Authentication solution.

Since its release in October of 2005, 11 leading financial institutions have reviewed various authentication solutions available in the market and selected Corillian's Intelligent Authentication as the solution of choice to deliver strong, FFIEC-compliant online authentication services to their online banking users.

Intelligent Authentication uses a patent-pending, multi-layered approach to authenticate online banking users. Improving on the traditional authentication mechanism of a user name and password, Intelligent Authentication examines and tracks multiple patterns of online banking behavior and various non-personal attributes of the online banking user to determine when it is necessary to block or challenge suspicious visitors. This multi-layered authentication technique is virtually transparent to the end user and facilitates a user-friendly, non-intrusive experience, while also ensuring visitors to the Web site are legitimate. Intelligent Authentication is also a "zero footprint" solution, requiring no distribution of hardware, software or spyware-like tracking objects.

"From a usability perspective, the username and password approach works quite well for online users, however, the security problems associated with this authentication technique are very real," said Jim Maloney, chief security executive at Corillian. "Intelligent Authentication strikes that critical balance - balancing the usability desired by end users while substantially improving the authentication security mechanism to meet the modern expectations of regulators, financial institutions and consumers. Many more financial institutions continue to express interest in Intelligent Authentication as the industry looks to strengthen its position in protecting online banking users."

BECU, a $5.6 billion credit union headquartered in Tukwila, Wash., was looking for a cost-effective, non-intrusive solution to help it meet the FFIEC guidance.

"Our members expect the best online security and online banking experience from us," said Ken Kinloch, a network and security analyst at BECU. "With the new federal regulations for online banking authentication, we knew we needed a solution that was easy-to-use, easy to deploy and cost-effective for the credit union and our members. Corillian Intelligent Authentication was the most cost-effective solution in the market and will provide our members with tremendous online security protection, while not disrupting the online banking experience."

"We are very pleased with the early success of Corillian Intelligent Authentication," said Alex Hart, president and CEO of Corillian. "The rapid adoption of this innovative solution is validation of the unmatched usability, ease-of-deployment and cost-effectiveness of Intelligent Authentication, as compared to other solutions in the market. More and more financial institutions are seeing the benefits of this strong, multi-layer authentication solution that focuses on the end-user experience to maximize the online banking experience."

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