SAN DIEGO, Sept. 19 /PRNewswire/ -- ID Analytics, Inc., the Identity Risk Management company, and VeriSign, Inc. (NASDAQ: VRSN) , the leading provider of intelligent infrastructure services for Internet and telecommunications networks, today announced an initiative to strengthen identity verification and proofing for online customers. Under the terms of a Referral Agreement, VeriSign intends to refer ID Analytics solutions to certain customers, including VeriSign Identity Protection (VIP) customers.
Using the ID Network(TM) and Graph Theoretic Anomaly Detection(R) (GTAD(R)), advanced pattern recognition technology, ID Analytics solutions allow VIP customers to instantly assess the risk of an identity the first-time a user registers for a new account or attempts to complete any high-value service online. The ID Network contains millions of applications for credit, debit and new accounts -- as well as non-monetary transactions and payments and learns constantly as new events are added to the system. More than eight million new proprietary identity attributes are added to the ID Network each day.
"Identity Proofing is highly complementary to VIP's risk-based authentication and two-factor authentication solutions," said Nico Popp, vice president, Authentication Services for VeriSign. "ID Analytics will enable VIP customers to evaluate a customer's identity risk at enrollment time helping them to distinguish legitimate customers from fraudsters as such customers apply for new services online. Combined with VIP Fraud detection and Authentication services, VIP customers who purchase ID Analytics solutions will now be able to protect the online channel against identity theft across the entire customer life-cycle."
VIP is a comprehensive suite of identity protection and authentication services that enable consumer applications to provide a secure online experience for end users. The VIP Services include a combination of both on- premise and VeriSign-hosted components which can be accessed through standard network protocols for easy integration into existing Internet applications. Using VIP enables both invisible security through VIP Fraud Detection Service as well as more visible security through VIP Authentication Service. VIP is currently used by leading financial institutions and e-commerce providers to protect their customers' online identities.
"ID Analytics ID Network is known for its deep real-time protection against identity fraud," said Bruce Hansen, chairman and CEO of ID Analytics. "Through this strategic relationship, we will significantly strengthen our ability to better protect the world of e-commerce from identity fraud."
About VeriSign
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 http://www.verisign.com/.
About ID Analytics, Inc.
ID Analytics, Inc., the Identity Risk Management company, owns and operates the ID Network(TM), the nation's first and only real-time identity fraud prevention system. ID Analytics' clients, which are also ID Network members, span the financial services, telecommunications, e-commerce, healthcare, utility, retail, government, and consumer sectors. With an exclusive focus on stopping identity fraud, ID Analytics has built proprietary pattern recognition technology within the ID Network to find suspicious behavior patterns across multiple organizations and industries. As a result, ID Network members lead their industries in preventing identity fraud, protecting consumers, and improving the consumer experience. ID Analytics is host of Identity 2006, the fifth annual Identity Risk Management conference Sept. 18-21. With headquarters in San Diego, Calif., ID Analytics has offices in the US and UK.
Statements in this announcement other than historical data and information constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements involve risks and uncertainties that could cause VeriSign's actual results to differ materially from those stated or implied by such forward-looking statements. The potential risks and uncertainties include, among others, the uncertainty of future revenue and profitability and potential fluctuations in quarterly operating results due to such factors as the risk that VeriSign's announced strategic relationships, including the relationship described herein, may not result in additional products, services, customers, profits or revenues; and increased competition and pricing pressures. More information about potential factors that could affect the company's business and financial results is included in VeriSign's filings with the Securities and Exchange Commission, including in the company's Annual Report on Form 10-K for the year ended December 31, 2005 and quarterly reports on Form 10-Q. VeriSign undertakes no obligation to update any of the forward- looking statements after the date of this press release.
ID Analytics and GTAD are registered trademarks of ID Analytics, Inc. ID Network is a trademark of ID Analytics, Inc. All other trademarks and registered trademarks are the property of their respective holders.
Website: http://www.idanalytics.com/
Website: http://www.verisign.com/