Another news release. They must be getting ready to ramp SVN up.
724 Solutions introduces LiveClips
Mr. Ray McManus reports
724 Solutions is introducing LiveClips -- its enhanced aggregation product
-- today at Thomson Financial Media's account aggregation conference in
Washington, D.C.
LiveClips builds on the technology acquired through the purchase of
ezlogin.com. The product encompasses 724 Solutions' strength and expertise
in developing products with financial institution-grade security, resulting
in a comprehensive aggregation tool designed to enable financial
institutions and financial portals to offer enormous value to their
consumers by giving them wired or wireless access to a full suite of
on-line accounts and content in one secure, easy-to-access location.
LiveClips's personal summary tool gives end-users a consolidated view of
the top-level information concerning their on-line accounts -- including
their financial, E-mail and special interest accounts requiring a user ID
and password sign-on -- in one location reached with a single sign-on. The
LiveClipper tool allows end-users to visit any Web site and essentially
"cut-and-paste" specific content of interest onto their LiveClips location.
"The Internet -- and now the wireless Internet -- have shifted the power to
consumers. 724 Solutions understands the need for financial services
providers to retain customers in today's world of instant-access
information," said Greg Wolfond, chief executive officer, 724 Solutions
Inc.
According to Mr. Wolfond, having access to one's financial life in a single
secure, easy-to-access location presents a huge value proposition for
today's busy consumer. "LiveClips is designed to allow financial services
providers to give consumers a full picture of their financial lives while
remaining at the hub of their customers' financial activity."
LiveClips has been enhanced from a security, functionality and technology
standpoint. These enhancements include:
Securing its servers containing sensitive personal account and consumer
data in Exodus Communications vaults within an Exodus data centre. The
Exodus vault is secured by biometric key-lock doors, alarm systems, video
surveillance, locked-down floor tiles and dedicated shielded connections to
the Exodus network.
A hardware-based security infrastructure built on nCipher's nForce hardware
security module (HSM) to protect consumers' sensitive data. By using
nForce's hardware encryption to protect LiveClips's database of consumers'
user IDs, 724 Solutions is ensuring that the information contained within
the database cannot be internally accessed by any one person. The right to
access the encrypted information requires at least five people, each
holding a different component needed to "unlock" the database.
Managerial security is achieved through strict internal policies
restricting access to data, and through the development of a series of
recommended best practices for customers choosing to host the data servers
themselves.
End-to-end security of the network is done through the use of secure socket
layer (SSL) encryption and multiple firewalls.
A strengthening of LiveClips's Extensible Mark-up Language (XML) to make it
easier for the financial services provider to customize the LiveClips user
interface to fit the look and feel of the rest of its HTML offering.
The adding of balance sheet functionality. LiveClips enables financial
institutions to offer their customers a customizable, user-defined
consolidated view of their assets and liabilities presented in a balance
sheet like format.
"In today's Internet economy, it is vital that businesses implement the
necessary means to support their customer needs and secure sensitive
information," said Richard Kosinski, president of nCipher, Inc. "724
Solutions recognizes the importance of deploying hardware encryption to
protect its customer's personal portals. By implementing nCipher's
technology, LiveClips will deliver high standards of privacy and security,
helping to create customer confidence and ultimately build loyalty."
WARNING: The company relies on litigation protection for "forward-looking"
statements.
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