The Frost & Sullivan Award for Solution of the Year is presented each year to the company that has achieved the best combination of product performance and industry advancement within the Mobile and Wireless industry. The winning solution has surpassed the expectations of customers and offers more innovative capabilities than competing vendors and products.
"VeriSign is a key enabler in the mobile financial services markets and a deserving recipient of this year's award for Mobile Banking Solution of the Year," said Vikrant Gandhi, Frost & Sullivan industry analyst. "The company's visionary approach and strong understanding of the key expectations of the value chain participants such as financial institutions, mobile operators and consumers is evident in its deployment strategy, and we expect VeriSign to maintain the growth through continuous innovation and operational excellence."
VeriSign Mobile Banking Services allow banks and financial institutions to replicate the Internet banking experience on the mobile phone, providing customers with convenient options to access interactive services such as multifactor authentication, balance inquiries, transaction history, bill payment, fund transfers and mobile alerts via the mobile phone. Currently, six out of the top 10 leading banks in North America use VeriSign Messaging and Mobile Media's mobile banking platform to improve the overall banking experience for their customers. In addition, the company works with three of the top five credit card issuers, and the global leaders in online payment and remittances solutions.
VeriSign Messaging and Mobile Media's flexible and comprehensive solution uses SMS/MMS and WAP to deliver real-time information to the mobile user, providing a foundation for value added services. VeriSign Messaging and Mobile Media continues to see Short Message Service (SMS) as the preferred medium for mobile banking in North America and throughout the world with financial customers driving a 96 percent increase in messaging traffic from Q4 2007 to Q4 2008.
"We are honored to be recognized by Frost & Sullivan as the Mobile Banking Solution of the Year, as this award validates our continuous efforts toward providing industry leading mobile messaging solutions to financial institutions," said Charles Landry, vice president and general manager, products and innovation for VeriSign's Messaging and Mobile Media division. "As consumers are relying more on their mobile devices, there is huge momentum behind mobile banking with an increasing number of financial institutions using these types of services as a competitive differentiator. Frost & Sullivan's selection of VeriSign clearly demonstrates that we have the best offering in this growing category."
About VeriSign Messaging and Mobile Media
VeriSign Messaging and Mobile Media is a division of VeriSign, the trusted provider of Internet infrastructure services for the networked world. Through this business unit, VeriSign provides global application services that reliably delivers short-messages (SMS), multimedia messages (MMS), and mobile content across wireless operators and mobile devices throughout the world. As a leader in mobile messaging, mobile banking and mobile content delivery, VeriSign offers a broad portfolio of mobile infrastructure and delivery services. Offering reliable delivery, a worldwide presence, and rapid and effective deployment, VeriSign has built a trusted and respected brand with global mobile operators, media content providers and enterprises. The reach, reliability and value add of VeriSign services enable these companies to capitalize on the rapidly growing messaging and media content markets.
VeriSign, Inc. (
About Frost & Sullivan
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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. 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, 2008 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.