Daon Announces Identity Management Solution for Financial Services Companies; DaonEngine's Secure Authentication Increases Security and Accountability.Business and Technology Editors LONDON--(BUSINESS WIRE)--Oct. 15, 2002 Daon, the identity management company, today announced details of its security and authentication solution for financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. companies at the Financial Times Fighting Financial Crime Conference in London. Commenting on recent developments in the financial services sector Oliver Tattan, Daon 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. said, "the urgent need for cost and risk reduction is driving enormous IT infrastructure changes within the financial services sector. However none of these changes can be contemplated without addressing the key issues of security, accountability and control." At the heart of security, accountability and control is the authentication of each user. If a user is not properly authenticated to a system, security is breached. Similarly if a transaction cannot be positively linked to a specific user, there is no real accountability for the transaction. Daon's comprehensive, secure identity management solution enables true authentication of users to enhance security, accountability and control. Daon's flagship product A primary product of a company, which is typically why the company was founded and/or what made it well known. For example, MS-DOS, Windows and the Microsoft Office suite have been flagship products of Microsoft. CorelDRAW is a flagship product of Corel Corporation. , DaonEngine supports multiple authentication modes and incorporates a comprehensive biometric authentication See biometrics. system. DaonSign adds the capability to carry out legally binding digital signatures. From a security point of view Daon ensures that only authorized users can access your system and carry out transactions so control is enhanced and operational risk is reduced. Importantly, an audit trail that records every log on and every transaction can be generated thus making transactions that are then non-repudiable and users that are accountable for transactions. From an administrative point of view the management of user identities is centralized thereby reducing the costs of administration of identity. A single sign on method for all applications is enabled taking considerable complexity and cost out of administration. About Daon Daon, the identity management company, designs, develops and markets biometric identity management and authentication solutions. The company's flagship product DaonEngine is the most secure, scalable and high availability Also called "RAS" (reliability, availability, serviceability) or "fault resilient," it refers to a multiprocessing system that can quickly recover from a failure. There may be a minute or two of downtime while one system switches over to another, but processing will continue. biometric authentication solution in the marketplace today. Designed to address market demands for enhanced security and accountability the company offers enterprises a unique and integrated approach to biometric authentication. Daon's solutions integrate with existing security systems such as 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 , smart cards Example of widely used contactless smart cards are Hong Kong's Octopus card, Paris' Calypso/Navigo card and Lisbon' LisboaViva card, which predate the ISO/IEC 14443 standard. The following tables list smart cards used for public transportation and other electronic purse applications. and other PIN/password based systems to provide a heightened level of security and non-repudiation, and reduced risk of fraud. DaonEngine forms the central part of a unique biometric identity management solution that manages the full biometric authentication lifecycle including capture, data management, assertion, protection and issuance. Daon partners with IBM (International Business Machines Corporation, Armonk, NY, www.ibm.com) The world's largest computer company. IBM's product lines include the S/390 mainframes (zSeries), AS/400 midrange business systems (iSeries), RS/6000 workstations and servers (pSeries), Intel-based servers (xSeries) , Tivoli, and Documentum. Daon is based in New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. , with facilities in Dublin and London. For more information, please visit www.daon.com |
|
||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion