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SafeNet Partners with Tradelink to Provide
Two-factor Authentication solution New project to be launched
for local internet banking system
HONG KONG, 21 December 2005 – SafeNet, Inc. (NASDAQ: SFNT),
setting the standard for information security, today announced
the partnership with Tradelink Electronic Commerce Limited (‘Tradelink’)
to provide two-factor authentication solution for banking and
finance industries in Hong Kong.
Tradelink is Hong Kong’s largest e-commerce service provider,
currently serving the needs of electronic documents of over 54,000
companies in the local trading community.
In view of the increasing acceptance of Internet banking services
and the growing sophistication of Internet banking frauds, the
Hong Kong Monetary Authority has recommended to implement two-factor
authentication for high-risk retail Internet banking transactions.
Banks offering high-risk retail Internet banking transactions
will have two-factor authentication ready for their customers
by June 2005. Therefore, banks have been looking for security
devices and/or solution to prevent fraud and ensure high level
of internet transaction security.
SafeNet and Tradelink’s wholly owned subsidiary, Digi-Sign
Certification Services Limited, have been working together on
an Internet banking project for a reputable Chinese bank in the
region recently and the project is expected to be launched this
year. “We are pleased to work with Tradelink for this customer.
Tradelink has its expertise on gathering best-of-the-breed products
for its customer and we are confident that both bank and its customers
will be benefits from our solution offered.” said Humphrey
Chan, Vice President of Asia Pacific, SafeNet Asia.
“The adoption of two-factor authentication strengthens
the security controls of Internet banking and protects customers
from Internet banking frauds," said Justin Yue, CEO of Tradelink.
“Tradelink and SafeNet have seen the need for local banks
and we believe SafeNet’s iKey USB authentication token is
one of the best security devices to prevent Internet fraud and
protect personal data.”
SafeNet’s iKey™ offers a compact hardware solution
for authentication and digital identity management. While offering
similar functionality to a smartcard, iKey packs two-factor authentication,
encryption key management, and digital signing functionality into
a tiny, secure package that includes an integrated USB port to
eliminate the need for a separate reader device.
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For press enquiries, please contact Tradelink (Corporate Communications)
on 2599 1686.
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