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Ultradata chooses Australia Post VIP Online Security for its Internet Banking Solution

  • 01 February, 2007 11:10

<p>Australia Post today announced it has partnered with leading retail banking software supplier Ultradata, to provide Australia Post VIP Online Security as an option within Ultradata’s Internet banking software, My Viewpoint. Ultradata is a key technology partner to over 220 institutions including credit unions, building societies and banks in the Asia Pacific financial services market.</p>
<p>Roger Lee, Manager Authentication Services at Australia Post, said Australia Post VIP Online Security, enabled by VeriSign Identity Protection®, offers a low-cost, secure and convenient service for financial institutions to implement strong, multi-factor, one time password (OTP) security tokens for authentication for banking online.</p>
<p>“The partnership between Ultradata and Australia Post is an important step forward in helping Australian financial institutions get the right tools to protect their members from the risks associated with online fraud and identity theft. Already several Credit Unions have shown interest in adopting this program, with an expectation to roll this out to their customers within the next few months,” said Mr Lee.</p>
<p>Leveraging a shared authentication network, Australia Post VIP Online Security allows online service providers to accept the same authentication credentials as other participating members of VeriSign’s global VIP network.</p>
<p>Although the customer's token can be used at any VIP network member website, each member organisation maintains control over its own business rules and security requirements and no identification or customer account information regarding the customer is ever shared.</p>
<p>Chief Executive Officer of Ultradata, Peter Henshaw, said the option to easily provide multi-factor authentication has been really well received during discussions with financial institutions.</p>
<p>“With more and more banking being done online, phishing scams, identity theft and online financial fraud are increasing. Our retail banking clients are looking to provide the best tools possible to protect their customers,” said Mr Henshaw.</p>
<p>“My Viewpoint already includes impressive security measures; however, this new option provides the next level of solutions for consumer authentication and is supported by two of the pre-eminent organisations in the field of Internet security and identity verification – Australia Post and VeriSign.”</p>
<p>Australia Post VIP Online Security is based on open standards. Initially a variety of two-factor, OTP tokens will be offered, allowing participating organisations to choose the token option they distribute to their customers. In the near future, the service will also support the introduction of soft-token credentials, such as mobile phone OTP.</p>
<p>The Australia Post VIP Online Security service complements Australia Post’s growing suite of Identity and Verification services and continues its strong history in providing a broad range of services to financial institutions in Australia, such as Bank@Post, POSTbillpay, In-Person Proofing and verifying people for bank accounts.</p>
<p>Australia Post will be showcasing VIP Online Security at the ACUI Conference and Exposition in Brisbane, February 24 – 28, 2007 where a special Early Adopter program for credit unions and building societies will be announced.</p>
<p>Financial institutions can get in early and register for the special introductory prices and benefits of the Early Adopter Program. For more details or to register, visit www.auspost.com.au/viponlinesecurity or call 1300 364 543.</p>
<p>- ends -</p>
<p>Media Contacts</p>
<p>Matt Pollard, Australia Post - (03) 9204 5362</p>
<p>Emma Keen, VeriSign - (02) 9236 0572</p>
<p>Andrew Hubbard, Ultradata - (03) 9291 1600</p>
<p>About Australia Post</p>
<p>Australia Post is a government business enterprise (GBE) operating under the Australian Postal Corporation Act 1989. The Corporation is a self-funding business that uses its assets and resources in order to earn profits, which can be reinvested into the business or returned as dividends to our shareholder, the Commonwealth Government. For further information about the Corporation, visit our website at www.auspost.com.au</p>
<p>About VeriSign</p>
<p>VeriSign, Inc. (Nasdaq: VRSN), operates intelligent infrastructure services that enable and protect billions of interactions every day across the world’s voice and data networks. Additional news and information about the company is available at www.verisign.com.au</p>
<p>About Ultradata</p>
<p>Ultradata delivers technology solutions to the Asia Pacific financial services market. Established in 1977 and now with over 200 staff, Ultradata has offices throughout Australia and in New Zealand and Malaysia.</p>
<p>Ultradata supplies software solutions for core banking, funds management, consumer finance products such as Lending, Internet Banking, Debit and Credit card, ATM, Interactive Voice Response and cheque book systems. These are built on a service-oriented architecture and tailored for each individual organisation. Clients range in asset size from start-ups, $1 million through to $15 billion and are spread throughout 8 different countries. Additional information about the company is available at www.ultradata.com.au.</p>

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