SIBS Chooses PrivateServer HSM to Perform EMV Validations.

PLEASANT HILL, Calif. -- Algorithmic Research (ARX), a provider of electronic signatures and data security solutions, has provided an EMV CAP authentication solution, based on PrivateServer HSM, to validate transactions for SIBS (Sociedade Interbancaria de Servicos), Portugal's Multibanco network administration organization.

EMV CAP enables eBusiness solutions to take advantage of security levels based on guidelines laid out by EMV and MasterCards' Chip Authentication Program (CAP). "The adoption, supported by PrivateServer HSM, allows eBusinesses to offer a two-factor strong authentication mechanism that would greatly enhance their security," says Rui Meneses, EMV-CAP Project Manager, SIBS.

Used together with a reader, an EMV CAP-based card provides a mechanism for a One Time Password (OTP) to authenticate the user and the transaction. This will enable secure home banking services that are particularly vulnerable to attacks by fraudsters using fake websites, stolen passwords, phishing and other schemes to obtain account information.

"With the generation of OTP, the secure authentication systems make it impossible to carry out transactions in connection with rogue bank accounts," says Meneses.

"PrivateServer gives SIBS a complete, high-performance, highly secure, EMV CAP system," says Dr. Gadi Aharoni, CEO, ARX.

"PrivateServer can support, depending on the environment, more than 4,000 typical card transactions per second, which is an important feature for SIBS and the banks it represents because of the expected high volume card usage," he adds.

PrivateServer HSM is already in use in financial institutions worldwide, including Setefi of the Intesa Banking Group, Polcard, Cetrel, G&D Spain and Getronics, among others.

About SIBS

With over 20 years of activity and positioned as an international reference in the payments systems activity, SIBS contributes to the general efficiency of the banking system, through the offer of technological payments solutions, combining security, effectiveness, confort and innovation at the lowest possible cost.

As one of the biggest European Automated Clearing Houses, SIBS has processed more than 1.785 millions operations last year.

More information about SIBS is available at www.sibs.pt

About PrivateServer(TM)

PrivateServer is ARX's highly secure network attached, Hardware Security Module (HSM) that provides a secure environment for conducting sensitive cryptographic operations, secure key storage and management of a large number of keys.

PrivateServer provides a cost-effective, high-performance, highly secure (FIPS-140 validated), and reliable solution for a wide range of industries: financial, commercial, and governmental. For more information: www.arx.com/products/privateserver.php