| [February 23, 2006] |
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Corillian and StrikeForce Partner to Fight Fraud by Strengthening Online Authentication for Financial Institutions; Solutions Provide Compliance with FFIEC Guidance
PORTLAND, Ore. & EDISON, N.J. --(Business Wire)-- Feb. 23, 2006 -- Corillian Corp. (Nasdaq:CORI), the top provider of online banking, online payments and anti-fraud solutions to the financial services industry, and StrikeForce Technologies, (OTCBB:SKFT), experts in identity assurance, today announced a joint offering to help financial institutions proactively prevent identity theft and fraud, strengthen online banking authentication and comply with FFIEC guidance.
Corillian and StrikeForce will protect financial institutions' online users with a comprehensive authentication service combining Corillian's Intelligent Authentication(TM) with StrikeForce's "Out-of-Band" authentication platform, ProtectID(TM). The joint offering helps to proactively detect fraudulent online activity and prevent illegitimate users from accessing accounts. Benefits include:
-- Easy implementation - no software downloads
-- Easy-to-use, uninterrupted online banking experience
-- Strong authentication with multiple layers and multi factors
-- Device flexibility for financial institutions and their customers
"Online banking is undergoing a permanent shift that requires secure and user-friendly technology, affordable prices, and rapid deployment," said Mark L. Kay, CEO of StrikeForce Technologies. "The FFIEC guidelines present a marked adjustment for the online user and the financial institutions that offer very flexible and streamlined solutions will attract and retain these online customers."
"Financial institutions are looking for strong online authentication methods that don't disrupt the online banking experience that customers are used to," said Alex Hart, president and CEO of Corillian. "The multiple layers of Intelligent Authentication were designed with the online banking user in mind -- to provide ultimate protection of online accounts without compromising the convenience of online banking. StrikeForce's "Out-of-Band" authentication process complements Intelligent Authentication and provides financial institutions with additional layers of multi-factor protection for their online customers."
StrikeForce's patent-pending ProtectID is the first and only "Out-of-Band" identity authentication solution that creates a separate pathway for users to enter a PIN over the telephone that takes seconds to authenticate the identity of the online customer. Biometric devices, such as fingerprint and iris scanners, as well as one-time passwords (OTPs) can be added or substituted for additional versatility and layers of security. The different multiple methods of authentication eliminate the need to carry or purchase new technology, making two-factor authentication affordable and quickly deployable.
Intelligent Authentication employs a behavioral approach to authentication by building a history of "access signatures" for individual users. This is accomplished by collecting and validating information about each user's computer and method of Web site access without collecting personally identifiable information or requiring participation of the end user in the data collection process. An electronic access signature is created by combining a number of key identification points, such as IP address, Internet service provider, PC and browser settings, time of day and geographic location. It is a zero footprint authentication solution that does not require client hardware or software, is not dependent on the existence of any special marker or cookie on the user's PC, and does not require interrogation of the user's PC via downloaded software.
About StrikeForce Technologies
StrikeForce Technologies, a leader in online identity assurance solutions that prevent identity theft, is a company that can protect customers, partners and employees -- in real time against identity fraud at almost every access point. Its total protection solution strengthens companies' defenses against the biggest points of fraud -- when accounts are opened, when they're accessed, when they're changed, and each time there's a new transaction. StrikeForce Technologies is trading on the OTC bulletin board (SKFT) and the company is headquartered in Edison, N.J., and can be reached at http://www.strikeforcetech.com or 866-787-4542.
About Corillian Corporation
Corillian is the market leader of online banking, bill payment and fraud prevention applications to the financial services industry. With 28 of the top 100 U.S. banks and 20 of the top 100 U.S. credit unions as customers, Corillian serves over 25 percent of the online banking community. Corillian provides the most flexible, scalable and secure set of online banking applications across multiple lines of business, integrating best-practice functionality developed for some of the most innovative financial institutions in the world. Corillian features integrated applications across Consumer Banking, Small Business Banking, Wealth Management, Credit Card Management, and Corporate Cash Management, as well as enterprise wide solutions, including Fraud Detection, Payments Warehouse, Alerts, eStatements, and OFX. Corillian's fraud prevention solutions use Preemptive Forensics(TM) to protect web sites from phishers, hackers, and fraudsters. Corillian's strong authentication solution provides a low-cost solution for multi-factor authentication while maintaining high user satisfaction. Empowered by Corillian solutions, some of the world's most visionary financial institutions provide their customers with the tools to manage their finances more effectively and securely. For more information about Corillian Corporation, visit the company's Web site at http://www.corillian.com.
Certain statements in this press release that are not historical facts are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements may be identified by the use words such as "anticipate, "believe," "expect," "future," "may," "will," "would," "should," "plan," "projected," "intend," and similar expressions. Such forward-looking statements, involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Corillian and StrikeForce Technologies, Inc. (the Companies) to be materially different from those expressed or implied by such forward-looking statements. The Companies respective future operating results are dependent upon many factors, including but not limited, the expected future business, the uncertainty of future revenue and profitability and potential fluctuations in quarterly operating results due to such factors as increased competition and pricing pressures, successful development and marketing of new products, competitors' and partners' products, development and performance of direct and indirect sales and distribution channels, and customer acceptance of any new products or services as well as risk factors discussed in the Companies respective periodic filings with the Securities and Exchange Commission, which are available for review at www.sec.gov under "Search for Company Filings."
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