The agreement reflects VeriSign's strategy to meet the changing needs of financial institutions by leveraging its global infrastructure for mobile messaging and content delivery. ClairMail's scalable platform and breakthrough technology combined with VeriSign's messaging and operations infrastructure will facilitate bringing this revolutionary solution to market rapidly, benefiting financial institutions of all sizes.
"VeriSign is the leader in trusted managed services for ecommerce, security and financial services customers. We are confident that their world class messaging and operations infrastructure will enable banks, credit card issuers and brokerage customers to accelerate the use of the mobile device as a channel for 2-way customer interaction," said Joseph Salesky, CEO of ClairMail. "This partnership enables a broad feature set for mobile banking to be delivered to a wide set of financial institutions in an on-demand, trusted managed service."
Incorporating ClairMail's platform and applications enables the VeriSign Mobile Banking Solution to support the "triple play" of mobile interface types: messaging (SMS and email), mobile web and native client applications. Support of these interface types enables financial institutions to offer reliable, secure and easy-to-use mobile services to their customers on a wide range of handsets. The joint solution securely and cost-effectively integrates with a financial institution's systems of record and enables a broad set of 2-way services on one platform with a single implementation, including account management, fraud mitigation, actionable alerts, mobile payments, marketing campaigns and no-hold customer service.
"Since launching the VeriSign Mobile Banking Solution in March, we've sought differentiated offerings that dovetail with our solution strategy by creating a true competitive advantage for financial institutions," said Brian Matthews, vice president, enterprise solutions, VeriSign. "We chose to work with ClairMail because their approach met VeriSign's stringent requirements for scalability, reliability and security. Together, we can enable financial institutions to develop cost-saving efficiencies, while helping them build loyal, lasting relationships with their customers."
"Simple user experience, security, flexible architecture and broad device support are critical components for an effective mobile banking and payments solution," said Bob Egan, chief analyst & research area director, TowerGroup. "Mobility drives digital/electronic commerce services to the absolute domain of the individual, 24x7, right here, right now. Banks who demonstrate market leadership will deploy secure, real-time multi-modal solutions."
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ClairMail optimizes any mobile phone for 2-way customer interaction. Only the ClairMail System offers mobile banking and payments applications that utilize any phone's existing messaging and mobile web software and extend the capabilities of third-party native client applications. On one platform with a single implementation, ClairMail empowers financial institutions to provide their customers with easy and immediate 2-way access to secure information, account management, no-hold customer service and Actionable Alerts™. Unlike other proprietary and inflexible point solutions, the ClairMail System is a standards-based offering that securely integrates with existing systems, delivering rapid time to value and providing an alternative to more costly channels like call centers and IVR. Founded in 2004, ClairMail is headquartered in Novato, Calif. The company is privately held and funded by Norwest Venture Partners, Outlook Ventures and JAFCO Ventures. For more information call (415) 884-7270 or visit www.clairmail.com.
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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 risk that VeriSign's announced strategic relationships, including the relationship described herein, may not result in additional products, services, 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, 2006 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.