Datakey, Inc. (OTC Bulletin Board: DKEY), a leading provider of information security products that simplify and secure authentication to corporate and government information systems, today announced a multi-year agreement with a major U.S. financial services organization. Under the terms of the agreement, which is expected to contribute $2.6 million in revenue through 2006, Datakey will provide its USB token-based strong authentication and identity management solutions to secure financial transactions between the organization and its customers.
Security and reliability are essential to financial institutions, and Datakey's technology has met this organization's challenging standards. As a long-time Datakey customer, the organization chose to expand their use of Datakey's proven authentication and identity management solutions to provide for a higher level of security in executing financial transactions.
Datakey's CIP authentication solutions for PKI environments provide a cryptographic smart card or USB token that protects and assures an individual's identity throughout the enterprise. Each transaction is authenticated by both Datakey's technology and the organization's existing authentication process, resulting in highly secure and reliable transactions. When combined with Datakey CMS, a web-based identity and credential management system, security is reinforced with an intuitive system to issue, manage and support the digital identities deployed to smart cards and USB tokens. The Datakey solution is highly secure, works seamlessly with existing infrastructures, and is easy-to-use and deploy - factors vital to securing critical financial transactions while enhancing work flow.
"This major expansion of an existing installation underscores the reliability and security of Datakey technology," said Tim Russell, president and CEO of Datakey. "Datakey provides this customer a unique combination of strong, identity-based cryptographic smart tokens and an intuitive web-based identity and credential management system. In this organization, as with all of our customers, Datakey contributes to project success by providing exceptional service and support before, during and following the installation."
Datakey's smart card or USB token and client software solutions give organizations a single device to function as an individual's identity throughout the enterprise for network security. With broad support for an enterprise's existing authentication mechanisms, Datakey adds two-factor authentication for passwords, VPNs, web authorization, public key encryption, digital certificates and digital signatures. Enterprises benefit from enhanced security for their existing authentication methods while also taking advantage of smart card or USB token protection for PKI-enabled applications or simplifying any future migration to PKI.
Datakey CMS is a web-based identity and credential management solution - used to issue, manage and support Datakey cryptographic smart cards and USB tokens for identity-based applications. Datakey CMS gives customers a powerful, secure system that reduces the cost of deploying and supporting identity-based cards and tokens. Through innovative, policy-based enrollment features, Datakey CMS significantly reduces the time an enterprise must spend issuing and managing cards and tokens for geographically distributed users. Datakey CMS makes it easier to perform a wide range of critical digital credential management activities - everything from requesting or renewing a user's digital credentials to revoking or re-issuing these credentials.