All Points Capital Chooses Arcot Systems Multi-factor Authentication for FFIEC Compliance.SUNNYVALE, Calif. -- North Fork Bank North Fork Bank was an American bank headquartered in Melville, New York purchased by Capital One at the end of 2006 for $14.6 billion U.S. dollars. It was only the second bank bought by Capital One, and was the larger of two acquisitions comprising Capital One's 2005-06 expansion Subsidiary Chooses WebFort Strong Authentication (1) Verifying the integrity of a transmitted message. See message integrity, e-mail authentication and MAC. (2) Verifying the identity of a user logging into a network. Software Smartcard for Protecting Online Banking Customers Today, Enabling Digital Signatures for Tomorrow Arcot Systems, Inc., a leading provider of multi-factor authentication, credential management, and digital signature software solutions, today announced that All Points Capital, a subsidiary of North Fork Bank, has chosen the company's WebFort multi-factor authentication solution -- with its underlying patented ArcotID technology -- for authenticating financial institution customers into its online transaction portal. All Points provides an Internet transaction gateway to thousands of customers, the majority being independent lessors, or companies that lend money to other businesses and consumers. All Points Capital (APCC APCC anti-inhibitor coagulant complex. ) selected Arcot's WebFort solution in order to fortify for·ti·fy v. for·ti·fied, for·ti·fy·ing, for·ti·fies v.tr. To make strong, as: a. To strengthen and secure (a position) with fortifications. b. To reinforce by adding material. its online protections for its customers, and to comply with U.S. FFIEC FFIEC Federal Financial Institutions Examination Council (Federal Financial Institutions Examination Council The Federal Financial Institutions Examination Council, or FFIEC, is a formal interagency body of the United States government empowered to prescribe uniform principles, standards, and report forms for the federal examination of financial institutions by the Board of ) guidelines on the use of authentication in Internet banking environments. Moreover, the company selected Arcot in order to lay the framework for future digital signing applications for the addition of value-added customer services and improved internal document management efficiencies. All Points Capital chose Arcot's multi-factor authentication product over other solutions for three primary reasons:
1. Platform & Network Compatibility
2. Customer Usability (low impact on customer service)
3. Application Extensibility
"We chose the WebFort solution for FFIEC compliance primarily because Arcot's solutions were more compatible with our internal systems," said Kawai Chan, Technology Officer for All Points Capital. "We reviewed a variety of solutions being used by other financial institutions and when it came right down to it, Arcot's software worked best with our systems. Other vendors that we looked at required Linux or Apache Apache (əpăch`ē), Native North Americans of the Southwest composed of six culturally related groups. They speak a language that has various dialects and belongs to the Athabascan branch of the Nadene linguistic stock (see Native American , or required significant changes to our platform and business processes." Chan continued, "We did not want to redesign or extend our current system infrastructure to accommodate a new authentication system The combination of authentication server and authenticator, which may be separate devices or both reside in the same unit such as an access point or network access server. The authentication server contains a database of user names, passwords and policies, and the authenticator physically . We needed a system that could be incorporated into the network design easily, not the other way around." Ease-of-use of the patented ArcotID "software smartcard" technology underlying the WebFort solution also played a significant role in APCC's choice. "Our test users found the ArcotID very intuitive to use," Chan commented. "The act of using the ArcotID mirrors that of traditional user name and password so implementation of the solution doesn't require us to ask our customers to change their behavior -- the way they access our online business portal." And with an eye to the future plans for its business, APCC chose the WebFort solution because its platform provides the basis for the secure digital signing of electronic documents, a utility that the company plans to implement in the future for facilitating business process flow and lowering operational costs. "We didn't want to choose an authentication solution and meet FFIEC compliance in a vacuum from our other business initiatives. Arcot's solution opens the door to business improvements, rather than boxing APCC onto a narrow path, or providing us with an orphan orphan: see adoption; foundling hospital; guardian and ward. See widow & orphan. Orphan See also Abandonment. Adverse, Anthony finally, at middle age, discovers origins. [Am. Lit. solution that didn't fit in with the rest of our systems and business plans." "The team at All Points Capital shared our vision of authentication as a business enabler, not a one-time technical solution, and we are proud to have won their business," said Martin Yam, Vice President of Worldwide Sales for Arcot Systems. "They recognized the superiority of our solution from a practical standpoint and we look forward to working with them, and growing with them as the company moves to take advantage of the many applications that our WebFort solution provides." To learn more, visit www.arcot.com/arcotid.html and www.arcot.com/ffiec. About All Points Capital All Points Capital (APCC) is a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of North Fork Bank, headquartered in New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of . APCC provides recourse and non-recourse financing to independent lessors nationwide, as well as direct equipment leasing Equipment Leasing is a financing option to lease equipment for a certain amount of time. Leasing Benefits
About Arcot Systems Arcot Systems is a leading provider of secure e-payment, strong authentication, credential management, and digital signature software solutions. The company's cost-effective and highly scalable software-based authentication products limit online transaction fraud and enable advanced functionality such as the turn-key issuance of roaming The ability to use a communications device such as a cellphone or PDA and be able to move from one cell or access point to another without losing the connection. credentials and secure electronic document exchange. Arcot's products meet the need for strong, multi-layered transactional security while providing customers with a seamless, user-friendly experience. The company's offerings are compliant with U.S. and international standards including 3-D Secure, IdenTrust, SAFE bio-pharma, and FFIEC Internet Banking Authentication recommendations. Enterprises also work with Arcot to meet legislative requirements such as Sarbanes-Oxley and HIPAA (Health Insurance Portability & Accountability Act of 1996, Public Law 104-191) Also known as the "Kennedy-Kassebaum Act," this U.S. law protects employees' health insurance coverage when they change or lose their jobs (Title I) and provides standards for patient health, . Over 11,000 card-issuing banks and 25,000 online merchants and other enterprises use Arcot to protect the identities of millions of consumers worldwide. For more information, visit www.arcot.com. |
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