CSC Teams with Daon to Launch Multifactor Identity Authentication Offering for Banking
News Release -- May 08, 2012
ConfidentID Mobile to Enable Banks to Reduce Fraud and Identity Theft
FALLS CHURCH, Va., May 8 – CSC (NYSE: CSC) today announced it has teamed with Daon, a leader in identity authentication technology and services, to launch a biometric authentication service to help banks reduce risk and protect their customers from fraud and identity theft. The offering, ConfidentID Mobile, is built on Daon’s IdentityX® platform and provides reliable, in and out-of-band identity authentication for online, mobile and other channel transactions, allowing financial institutions to customize the level of security required for different types of transactions.
The service works by combining passwords, personal identification numbers (PINs) and public key infrastructure (PKI) security architecture, along with optional biometrics such as face recognition, voice recognition and palm identity. Location intelligence is also used for verification through global positioning system (GPS), IP location and cellular triangulation. ConfidentID Mobile is hardware-independent and supports today’s latest generation of smart phones and tablets. It authenticates both individuals and their transactions and helps organizations meet stringent requirements, including those prescribed by the Federal Financial Institutions Examination Council (FFIEC).
“Fundamental to CSC’s mobile cybersecurity strategy is a commitment to reduce fraud and risk through a suite of identity-oriented offerings, which deliver a user authentication process that protects the consumer Beyond a Shadow of a DoubtSM,” said John Dickson, president of CSC’s Banking and Credit Services Division. “Using biometric and other data gathered from ConfidentID Mobile to verify the user’s identity when authorizing a financial transaction is critical, especially for those transactions involving the movement of large amounts of funds.”
“ConfidentID Mobile facilitates the ability to securely, efficiently and easily prove your identity to an application and to be assured who you’re interacting with online. This capability is essential to delivering online trust as the Internet has become indispensable for billions of people across the world,” said Tom Grissen, chief executive officer, Daon. “Daon is proud to provide the patented IdentityX technical foundation on which CSC is building complementary products, services and systems. ConfidentID Mobile represents a tremendous opportunity for CSC to carve out a dominant position in the all-important banking sector.”
ConfidentID Mobile comprises both a server application and an application on the banking customer’s mobile device. When the customer initiates a transaction on the bank’s website or mobile application, such as transferring money from one account to another, a request is made to the user for authentication. ConfidentID Mobile directly informs the service provider of successful authentication on the back end without further action from the customer. For more information, visit www.csc.com/ConfidentIDMobile.
Daon is a leading provider of identity assurance software products focused on meeting the needs of governments and commercial organizations worldwide. Daon’s COTS products are scalable, flexible and proven in the most challenging real-world environments and have been selected to secure hundreds of millions of identities around the globe. The award-winning IdentityX mobile authentication solution leverages proven Daon technology and significantly decreases the risk of unauthorized transactions, protecting businesses and consumers against online fraud and hacking. Daon’s offices are located in Washington, DC, Canberra, Bangalore, London and Dublin. For more information, visit www.daon.com and www.identityx.com.
About CSC in Financial Services
More than 1,200 major banking, insurance, investment and wealth management, and securities firms rely on CSC’s global financial services team to turn their ambitions into realities. With a track record for delivering software, consulting, and IT and business process outsourcing and services at scale, CSC brings a deep understanding of the financial services business and a collaborative culture to one of the industry’s most engaged client communities. For more information, visit www.csc.com/financialservices.
CSC is a global leader in providing technology-enabled business solutions and services. Headquartered in Falls Church, Va., CSC has approximately 98,000 employees and reported revenue of $16.0 billion for the 12 months ended December 30, 2011. For more information, visit the company’s website at www.csc.com.