Bankenes BetalingsSentral-BBS, the Norwegian Banks Payment Services Company, Chooses Baltimore Technologies to Enable Trusted e-Services to Banks, Businesses and Individuals.Business Editors LONDON--(BUSINESS WIRE)--March 11, 2002 Baltimore Technologies Baltimore Technologies was an internet security firm founded in 1976 by Michael Purser. It was acquired in 1996 by a team financed by Dermot Desmond and led by Fran Rooney, who became CEO. Wins New EUR EUR In currencies, this is the abbreviation for the Euro. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 3.4 Million Contract, Enabling Norwegian Banks to Develop Trusted e-Services Baltimore Technologies (London:BLM BLM n abbr (US) (= Bureau of Land Management) → les domaines ) today announced that BBS (1) (Bulletin Board System) A computer system used as an information source and forum for a particular interest group. They were widely used in the U.S. , the market-leading provider of payments infrastructures and services to the Norwegian banks, has chosen Baltimore to provide a comprehensive security solution to enable on-line trusted transactions, such as payments and information processing information processing: see data processing. information processing Acquisition, recording, organization, retrieval, display, and dissemination of information. Today the term usually refers to computer-based operations. , for banks, businesses, and private individuals throughout the Nordic region. The solution will utilize Baltimore's award winning security products UniCERT, KeyTools security toolkits and Baltimore's Professional Services (job) professional services - A department of a supplier providing consultancy and programming manpower for the supplier's products. to deliver a complete solution to BBS. The license and service revenue will be recognised as the solution is delivered over the next six months. The major Norwegian banks and the Banking Associations have established BankID as a national Public Key Infrastructure (PKI (Public Key Infrastructure) A framework for creating a secure method for exchanging information based on public key cryptography. The foundation of a PKI is the certificate authority (CA), which issues digital certificates that authenticate the identity of ) infrastructure for the banking and finance industry in Norway. BankID will be a common security system for all Norwegian banks and the long-term goal is to establish BankID as the preferred electronic ID in Norway. The system will be operated by BBS on behalf of the banks and will be initially implemented and marketed by five leading banks in Norway This contains a list of banks in Norway. There are three types of banks in Norway: commercial banks, savings banks (Norwegian: Sparebank) and branches of foreign banks. The list is complete as of October 2006. . "We have selected Baltimore because they clearly demonstrated an understanding of our requirements and were able to provide a complete solution for this mission critical system," said 0yvind Apelland, Senior VP Trusted Services BBS. "This is a project of strategic importance and strongly positions the Norwegian banks to provide trusted services. We are confident that Baltimore have the technology and services to deliver." BankID will provide a national solution to the problem of providing widely accepted trusted online transactions and a common banking solution to secure all Internet communication. The BankID Central Infrastructure covers all the necessary components to receive and process certificate orders. This UniCERT-based certificate authority system provides the necessary components to receive and process requests for digital certificates. By building a central public-key infrastructure, individual banks can easily issue and manage BankID certificates to customers allowing them to sign and authenticate (1) To verify (guarantee) the identity of a person or company. To ensure that the individual or organization is really who it says it is. See authentication and digital certificate. (2) To verify (guarantee) that data has not been altered. multiple transactions though the Norwegian banking network using the same certificate. "This transaction is an important milestone in confirming our outstanding product competitiveness and the exceptional depth of our professional services in security technology. Today, our uncompromising focus on our customers' competitiveness will redefine our engagement with existing and new customers," said Bijan Khezri, Chief Executive Officer of Baltimore Technologies "The Nordic region in general and BBS in particular have a strong track record of technology leadership. This project will become a global reference for how technology is critical to building industrial competitive advantage. We are delighted to be participating in this project." About BBS BBS - The Norwegian Banks Payment Services Company - is the market leading provider of payment services to the Norwegian banks. BBS' mission is to enable banks, companies and private individuals to make and receive payments efficiently and securely. BBS is owned by the Norwegian banks. The company's operations are divided into four product lines; Card services The software support for PC Cards. PC Card applications talk to Card Services. See PC Card. , Giro giro Noun pl -ros 1. (in some countries) a system of transferring money within a bank or post office, directly from one account into another 2. services, Interbank services and Trusted services. BBS is presently involved in major projects aimed at developing and launching leading-edge solutions for payments and information processing through the Internet, and to establish market leading trusted services for e-business based on digital certificates and technology from Baltimore Technologies. About Baltimore Technologies Baltimore Technologies develops and markets security products and services to enable companies to develop trusted, secure systems for e-business, the Internet and mobile commerce. Its products include a wide range of Public Key Infrastructure (PKI) products and services, wireless e-security solutions, cryptographic toolkits, access control & authorization, content security (MIMEsweeper products) security applications and hardware cryptographic devices. Baltimore's global professional services organization offers a wide variety of consulting, training and deployment support to its customers worldwide. Baltimore Technologies markets and sells its solutions worldwide directly and through the TrustedWorld channel program. TrustedWorld includes many of the world's leading technology companies and a wide variety of global, regional and local business partners. Baltimore Technologies plc is a public company with dual listings on NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on (BALT BALT bronchus-associated lymphoid tissue. BALT Bronchiole-associated lymphoid tissue, see MALT ) and the London Stock Exchange London Stock Exchange London marketplace for securities. It was formed in 1773 by a group of stockbrokers who had been doing business informally in local coffeehouses. (BLM). For further information and press releases on Baltimore Technologies, please visit www.baltimore.com Certain statements that are not historical facts including certain statements made over the course of this document may be forward-looking in nature. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance and achievements of the Company to be materially different from any future results, performance or achievements implied by such forward-looking statements. |
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