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CyberSafe Announces Transactional Security Strategy for Accelerating Business Growth.


Business Editors, Technology Writers

SEATTLE--(BUSINESS WIRE)--June 12, 2000

Leverages decade of industry experience to help customers close the

gap between risk and opportunity

CyberSafe Corporation, the leader in transactional security, today announced its vision and strategy for accelerating the adoption and increasing security of transactions between on-line business processes.

Company executives are presently briefing business, financial and industry trade press, and IT analysts, providing them with detailed information on the CyberSafe strategy and positioning.

"CyberSafe has positioned itself to take advantage of the high-growth e-commerce industry through selective partnerships, a global reseller program, and by taking an aggressive role as the leader in transactional security," states Dennis Szerszen, Director of Security Strategies for Hurwitz Group, a leading industry analyst firm.

"To fully accelerate e-business, companies must have competencies in both enterprise and transactional security," states Jim Cannavino, CyberSafe's CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board.  and Chairman of the Board. "Enterprise security is defined as securing the boundaries between parties. Transactional security is defined as securing interactions between parties in a boundless environment. CyberSafe provides these necessary components, enabling our customers to close the gap between risk and opportunity."

With nearly a decade of security experience, including many innovations and developments now considered industry standard, CyberSafe will leverage its three areas of core competency A core competency is something that a firm can do well and that meets the following three conditions specified by Hamel and Prahalad (1990):
  1. It provides customer benefits
  2. It is hard for competitors to imitate
  3. It can be leveraged widely to many products and markets.
 and expertise:

-- The knowledge and foresight to enable customers to securely

grow their business

-- Customer relationships based upon accountability and

collaboration

-- Increased business value through selective partnerships

As the industry leader in transactional security, CyberSafe will leverage this experience, close customer relationships, and strategic partnerships in three areas of business:

-- Transaction Services

-- Managed Services An umbrella term for third-party monitoring and maintaining of computers, networks and software. The actual equipment may be inhouse or at the third-party's facilities, but the "managed" implies an ongoing effort; for example, making sure the equipment is running at a certain quality  

-- Infrastructure Solutions

"Our mission is to provide customers with secured transactions Business dealings that grant a creditor a right in property owned or held by a debtor to assure the payment of a debt or the performance of some obligation.

A secured transaction is a transaction that is founded on a security agreement.
 that enable them to leverage the power of the Internet and accelerate their business growth with confidence and minimized risk," states Cannavino. "In the Internet economy The Internet Economy refers to conducting business through markets whose infrastructure is based on the Internet and World-Wide Web. An Internet economy differs from a traditional economy in a number of ways, including: communication, market segmentation, distribution costs, and price. , securing electronic transactions is essential for businesses looking to quickly and fully capitalize on Cap´i`tal`ize on`   

v. t. 1. To turn (an opportunity) to one's advantage; to take advantage of (a situation); to profit from; as, to capitalize on an opponent's mistakes s>.
 opportunities."

Transaction Services

A comprehensive solution created by CyberSafe's collaboration of industry leaders to provide secured business to business (B2B (Business to Business) Refers to one business communicating with or selling to another. See B2B e-commerce, B2C and B2G.

B2B - business to business
) and business to consumer (B2C (Business to Consumer) Refers to a business communicating with or selling to an individual rather than a company. See B2B. ) financial transactions. As the catalyst in this endeavor, CyberSafe contributes required services and the essential technology. These services and technology are complemented by partner components. In all, this solution addresses online debit and credit card fraud Credit card fraud is a wide-ranging term for theft and fraud committed using a credit card or any similar payment mechanism as a fraudulent source of funds in a transaction. The purpose may be to obtain goods without paying, or to obtain unauthorized funds from an account. , identity theft, and transaction privacy concerns. Merchants will benefit from reduced liability and cost savings from charge-backs and fraudulent denial of services or purchase (repudiation). Customers will benefit from anonymity, privacy, identity protection, and the convenience of making online transactions.

Managed Services

Managed Services is an efficient, cost-effective operational and administrative solution for transactional security. The company offers customers a flexibility of purchasing CyberSafe(R) products and services for in-house use or managed by CyberSafe. Value-add Managed Services offers include 24/7 real time monitoring transactions; fraud avoidance; proactive insider threat detection; the ability to generate detailed, customized auditing and analysis reports; early warning response; and flexibility in staffing. Customers will benefit from CyberSafe's security expertise, scale, and customer care.

Infrastructure Solutions

Infrastructure Solutions is the underlying technology required to bridge the managed security services Security services are state institutions for the provision of intelligence, primarily of a strategic nature, but also including protective security intelligence. Examples include the Security Service (MI5) and the Secret Intelligence Service (MI6) in the United Kingdom, and the  and transaction services necessary for transactional security. The CyberSafe(R) ActiveTRUST(TM) product line meets this need by providing customers strong authentication; message privacy; enterprise-wide, single sign-on An identification system that lets users log into multiple Web sites on the Internet with one username and password. Single sign-on systems are also used within an enterprise, enabling users to access all authorized resources in the local network using the same username and password.  capabilities; message integrity; and unparalleled intrusion detection See IDS and IPS.  capabilities. Other offerings include risk assessment services, architectural design This article or section may contain original research or unverified claims.

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, and educational services. Additionally, CyberSafe partners with leading hardware and software companies to insure that interoperability is smooth, seamless, and accomplished with minimal effort and staffing.

About CyberSafe Corporation

CyberSafe Corporation is the leader in transactional security for accelerating business growth. We have the knowledge and foresight to help our customers grow their businesses by increasing the velocity and the security of transactions between business processes. Our comprehensive portfolio includes transaction services, managed services, and infrastructure solutions for the global 1000 marketplace. CyberSafe enables its customers to leverage the extraordinary power of the Internet with increased confidence and minimized risk by closing the gap between the risks and the opportunities. Leading investors in the company include Accel Partners, Deutsche Bank Deutsche Bank AG (IPA: /'dɔɪ.tʃə/[1]) (ISIN: DE0005140008, NYSE: DB) (English: German Bank  London, Financial Technology Ventures, OAK Investment Partners and Polaris Venture Partners. CyberSafe is headquartered in Issaquah, WA, and on the World Wide Web at http://www.cybersafe.com. For additional information, email info@cybersafe.com
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Publication:Business Wire
Date:Jun 12, 2000
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