News Release – March 7, 2013
(Hong Kong, 7 March 2013) – Automated Systems Holdings Limited (“ASL” or “the Group”) (SEHK stock code: 771), a leading IT services provider in the region, today announced that its wholly-owned subsidiary, Automated Systems (HK) Limited (“Automated”), helped Bank of China (Hong Kong) Limited (“BOCHK”) enhance its Internet banking services with reliable security solutions from VASCO Data Security International, Inc. (“VASCO”, Nasdaq: VDSI), and i-Sprint Innovations (“i-Sprint”), a wholly owned subsidiary of ASL.
To address the increasing public awareness of Internet safety and to comply with regulatory requirements, it is paramount for the banking industry to widely adopt high standard and proven security solutions to protect their customers’ assets throughout the online banking transaction process.
BOCHK is one of the most renowned banks in Hong Kong and has been recognized as one of the Strongest Banks in the World. To cope with the challenges of Internet safety, BOCHK was searching for reliable security measures with stronger authentication and transaction signing capacity to enhance the security of its Internet banking services.
After examining different IT solutions and services in the market, BOCHK appointed Automated as the systems integrator to manage the entire deployment of the VASCO and i-Sprint solutions for the Strong Authentication and Data Signing functions, as well as after-sales maintenance for the solution. The solutions deployed by BOCHK include i-Sprint’s Strong Authentication (2FA) as an additional layer of security and VASCO’s industry proven DIGIPASS 270 and VACMAN core authentication engine to verify a customer’s online identity and secure online transaction with data signing capabilities.
DIGIPASS 270 is an ultraportable authentication device that offers an extra layer of security and protection to BOCHK’s customers. Digipass 270 uses the AES-algorithm to calculate e-signatures, host authentication codes and other Digipass-functionalities. The size of the device (70 mm x 45 mm x 2.85 mm) allows customers to put it in a wallet and use it anytime, anywhere.
VACMAN is a state-of-the-art API-based authentication platform that serves as a backend for DIGIPASS Strong Authentication tools. It automatically handles login requests, ensuring only properly authenticated users can access protected online applications and networks. In addition, VACMAN can be used to validate e-signatures, which are developed to protect customers’ online transactions from Man-in-the-Middle attacks. The unique design, unlimited scalability and flexibility of VACMAN make it a perfect fit for large deployments in a variety of customer interfacing applications such as online banking, ecommerce, web portals and other entertainment use.
To implement the 2FA Security Platform, BOCHK has also implemented i-Sprint’s AccessMatrix™ Universal Authentication Server to provide the end-to-end token management process and future proof authentication solution. i-Sprint’s AccessMatrix™ family of integrated Identity, Credential, and Access Management (ICAM) software products provide strong and versatile authentication and single sign-on and fine grained authorization solutions that have been designed to address ICAM security challenges and meet the regulatory compliance requirements for Internet banking security.“With the proven track records of the seamlessly integrated 2FA solution from VASCO and i-Sprint, as well as the professional services of Automated throughout the deployment, we are able to consistently provide our customers with highly secure Internet banking services. Our 2FA implementation offers a safe and trusted environment for our customers to perform banking transactions over the Internet with peace of mind,” said Mr. Cheung Wai Ki, Head of Direct Banking (Deputy General Manager) of BOCHK.
“It is important to ensure smooth project implementation and seamless integration of all hardware and software in order to meet clients’ schedule of token services launch,” said Mr. Henry Hui, Chief Executive Officer of Automated Systems Holdings Limited. “We are pleased to be a reliable partner of BOCHK in bringing secured online banking experience to its customers. This collaboration has clearly demonstrated the unique position of ASL as a leading IT services provider in the region with multi-vendor support capability. We not only provided integrated services to deploy the security solutions of i-Sprint and VASCO, but also end-to-end deployment services to ensure that the project can meet and exceed BOCHK’s expectations.”
“With 1,700 financial institutions in our global customer base and a very strong market position in Asia, VASCO has an unparalleled know-how in helping banks to secure their customers with strong authentication products and services,” said Jan Valcke, VASCO’s President and COO. “The project with BOCHK further entrenches VASCO’s position in Hong Kong. We are honored to be able to put our expertise at the disposal of BOCHK.”“With our proven experience with other financial institutions globally, we were able to assist BOCHK to implement the ‘Bank-Grade’ strong authentication solution in less than three months. We are proud to be a technology partner of BOCHK and assist them in providing the best Internet banking services for their customers,” said Mr. Albert Ching, CEO of i-Sprint.
“This is the first phase of our security enhancement program. With the new 2FA security platform, we are planning to extend the protection to other banking delivery channels such as mobile banking and phone banking. In addition, we will explore new and innovative ways to better serve our customers,” said Mr. Cheung.
To cope with future development of BOCHK, Automated will offer comprehensive after-sales maintenance services and future-proof security solutions in accordance with its business needs. This will support BOCHK to comply with regulatory mandates and dynamic business demand in the future, while minimizing disruption to existing infrastructure and protecting its IT investment.
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