IANS is deploying VeriSign® Identity Protection (VIP) Authentication Service to enhance the online safeguards available to IT security professionals logging in to the Boston-based firm's password-protected Internet site. VIP is a comprehensive suite of identity protection and authentication services designed to strengthen and protect consumers' digital identities.
To take advantage of VIP Authentication Service's fraud protection, IANS clients will receive an IANS-branded card that displays a one-time password (OTP) for every log-in. During an online session, this password is entered into the IANS Web user interface with other information (such as user name and password) to achieve two-factor authentication. Two-factor authentication dramatically reduces the risk of fraud because it combines something the user has (the VIP credential) with something that user knows (user name and password).
IANS becomes the latest organization to join the rapidly growing VIP Network. Membership in the VIP Network allows IANS clients to use their card credential on other members' sites within the VIP Network, including AOL, eBay, PayPal, The American Bankers Association, and many others. Sharing one credential across a network makes it more convenient for users to adopt two-factor authentication into their online routine. For online businesses, joining the VIP Network helps distribute the costs of stronger authentication, thus accelerating its acceptance in the global marketplace.
"Two-factor authentication is the most effective way to combat online fraud and identity theft, and we felt it was crucial that our clients -- all of whom are IT security decision-makers -- experience just how easy it is to take advantage of it," said Jack Phillips, CEO and co-founder, IANS, which provides Fortune 1000 companies, government agencies and academic institutions with insights and guidance on information security, regulatory compliance and IT risk management. "We chose to work with VeriSign because of its globally trusted brand and its ability to provide a managed service in a completely seamless and cost-effective way. By joining the VIP Network, we'll make it easy for our clients to use strong authentication around the Web."
The IANS card, which is the size of standard credit or debit card, is one of several convenient types of credentials accepted by VIP Network members. Because VIP is compliant with OATH (Open Authentication Organization) specifications, consumers can leverage credentials in many form factors designed to fit an individual's needs and usage preferences. VeriSign offers stand-alone tokens and software tokens for mobile phones.
"IANS is bringing VeriSign Identity Protection to the very individuals who are determining how the world's most heavily trafficked Web sites and networks remain safe, so today's announcement is very exciting for anyone engaged in the battle against online fraud," said Fran Rosch, senior vice president of product and strategy at VeriSign. "We're delighted that this respected research firm recognizes how the VIP Network provides an essential and convenient second line of defense for online businesses interested in safeguarding the digital identities of all consumers."
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Statements in this announcement other than historical data and information constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements involve risks and uncertainties that could cause VeriSign's actual results to differ materially from those stated or implied by such forward-looking statements. The potential risks and uncertainties include, among others, the uncertainty of future revenue and profitability and potential fluctuations in quarterly operating results due to such factors as the inability of VeriSign to successfully develop and market new products and services and customer acceptance of any new products or services, including VeriSign Identity Protection services; the possibility that VeriSign's announced new services may not result in additional customers, profits or revenues; and increased competition and pricing pressures. More information about potential factors that could affect the company's business and financial results is included in VeriSign's filings with the Securities and Exchange Commission, including in the company's Annual Report on Form 10-K for the year ended December 31, 2007 and quarterly reports on Form 10-Q. VeriSign undertakes no obligation to update any of the forward-looking statements after the date of this press release.
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