Security Dynamics Signs Agreement with First Union Corporation
Major US Bank Standardizes on SecurID Authentication To Protect Critical Network Resources
June 7, 1999 07:01 AM
BEDFORD, Mass., June 7 /PRNewswire/ -- Security Dynamics Technologies, Inc. SDTI today announced that First Union Corporation FTU , the nation's sixth largest bank holding company, has signed an agreement to purchase 22,000 SecurID(R) authenticators to protect its critical network resources. Already the de facto standard of the financial industry, First Union Corporation has standardized on the SecurID solution for all its employees because of its security, ease of use and wide support by third-party partners. In addition, SecurID authentication is intended to provide investment and infrastructure protection for the bank through Security Dynamics' Keon(TM) product family.
Before today's announcement, SecurID was already the system of choice within First Union and had been widely deployed to more than 20,000 bank employees to control access to a variety of applications. With this new agreement, First Union has formally endorsed its SecurID selection, and has agreed to deploy a minimum of 22,000 additional SecurID tokens to its employees over the next two years.
"We're excited about having SecurID as our standard authentication technology, not only because of Security Dynamics' well-deserved reputation in the industry, but also because we see it as the best long-term solution for our bank's security needs," said Peter Browne, senior vice president, Information Security Division at First Union. "Security Dynamics has demonstrated its commitment to embracing emerging digital certificate and electronic commerce standards and enhancing their core products to incorporate these technologies."
First Union will be a beta test site for Security Dynamics' recently announced Keon(TM) family of PKI products. Keon V5 is designed to fully support the SecurID(R) technology the bank employs today.
Security Dynamics' SecurID solutions are designed to provide centralized, strong, two-factor authentication services for enterprise networks and operating systems in order to ensure that only authorized users gain access to network files, applications and communications. Supporting a range of authentication devices, including SecurID hardware tokens, key fobs, smart cards, software tokens and a software application that runs on the Palm Pilot computing platform, these solutions are designed to create a strong barrier against unauthorized access, protecting network and data resources from potentially devastating accidental or malicious intrusion.
Today, more than 4,000 companies have adopted SecurID technology for protecting vital corporate data, and more than 4.5 million individuals around the world use SecurID authenticators in various forms to positively identify themselves before accessing corporate networks, Web sites and sensitive information.
About First Union Corporation
Headquartered in Charlotte, North Carolina, First Union Corporation is the sixth largest bank holding company and the third largest cash management provider in the U.S., with assets exceeding $232 billion as of March 31, 1999. A full-service financial institution, First Union reaches its 16 million customers through a network of 2,400 financial centers, ATMs, phone banking and secure electronic banking. Key subsidiaries include Wheat First Securities Inc., First Union Mortgage Corp., First Union Home Equity Bank, First Union Brokerage Services Inc., and The Money Store. For more information, call 1-800-ASK-FUNB (800-275-3862), or visit the First Union web site at www.firstunion.com.
About Security Dynamics
Security Dynamics is a leading provider of enterprise network and data security solutions that help companies conduct business securely, protect corporate information assets and facilitate business-to-business electronic commerce. With more than 4.5 million users of its SecurID authentication technology, Security Dynamics is the world leader in two-factor user identification and authentication. RSA Data Security, Inc., a wholly owned subsidiary of Security Dynamics, is a leading supplier of software components that secure electronic data, with more than 400 million copies of RSA encryption and authentication technologies installed worldwide. RSA technologies are part of existing and proposed standards for the Internet and World Wide Web, ISO, ITU-T, ANSI, IEEE, and business, financial, and electronic commerce networks around the globe. Security Dynamics and RSA can be found on the World Wide Web at www.securitydynamics.com and www.rsa.com, respectively.
ACE/Server and SecurID are registered trademarks of Security Dynamics Technologies, Inc. Keon is a trademark of Security Dynamics Technologies, Inc. All other product and brand names are trademarks or registered trademarks of their respective owners.
SOURCE Security Dynamics Technologies, Inc.
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