Wave Systems and Trusted Logic Successfully Implement FINREAD Software Specification In EMBASSY Trust System Environment.Business Editors & Technology Writers Cartes/IT Security 2002 Expo LEE, Mass.--(BUSINESS WIRE)--Oct. 29, 2002 Wave Systems Corp. (Nasdaq: WAVX): - Effort Positions EMBASSY Platform As Leader In Delivering Next Generation Smart Card-Based Services - Wave and Trusted Logic To Demonstrate FINREAD Platform at Cartes 2002 Trade Show, 5-7 November, in Paris Wave Systems Corp. (Nasdaq: WAVX - www.wave.com), a leader in trusted computing Trusted Computing (also abbreviated TC) is a technology developed and promoted by the Trusted Computing Group. The term is taken from the field of trusted systems and has a specialized meaning. and services, and Trusted Logic, a major provider of secure software components for Java(TM)-based embedded systems Embedded systems Computer systems that cannot be programmed by the user because they are preprogrammed for a specific task and are buried within the equipment they serve. , today announced that Wave's EMBASSY(R) hardware platform can run software that is based on FINREAD FINREAD Financial Transactional IC Card Reader FINREAD Financial Reader specifications, as published by the European Commission European Commission, branch of the governing body of the European Union (EU) invested with executive and some legislative powers. Located in Brussels, Belgium, it was founded in 1967 when the three treaty organizations comprising what was then the European Community Information Society Program. Such downloadable software will be capable of delivering secure consumer applications for trusted input devices, such as next-generation secure smart card readers. Wave will demonstrate this market-leading capability 5-7 November, 2002, at the Wave booth, 4M007, in the IT Security section of Cartes/IT Security 2002 Expo at the Paris-Nord Villepinte Exhibition Centre, www.cartes.com. FINREAD (Financial Transactional IC Card Reader), led by Groupement des Cartes Bancaires (France), along with SIZ SIZ Informatikzentrum der Sparkassenorganisation (Bonn, Germany) SIZ Seasonal Ice Zone SIZ Special Industrial Zone (Balochistan, Pakistan) SIZ Sediment Impact Zone SIZ Security Identification Zone (Germany), Banksys (Belgium), Interpay (The Netherlands), Europay, VISA and others, establishes standards and specifications for smart card readers and advanced e-commerce terminals used in home banking, shopping and other services for the deployment of interoperable, secure smart card terminals for European Union European Union (EU), name given since the ratification (Nov., 1993) of the Treaty of European Union, or Maastricht Treaty, to the European Community countries. At Cartes, Wave is demonstrating secure execution of finlets, the Java secure executables that are based on FINREAD specifications. Wave's hardware-based, open, programmable EMBASSY technology embeds trust and security in user devices, enabling 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. , and reliable, secure digital exchange and commerce. EMBASSY technology is ideally suited to applications such as FINREAD where secure tamper resistant execution, tight integration with 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 secure input and output services are required. "Wave is delighted to be one of the first vendors to demonstrate a FINREAD platform that will serve as the foundation for a new generation of 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. for European consumers," said Steven Sprague, president and 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. , Wave Systems. "Wave is currently working with partners to deploy FINREAD compatible keyboards and readers for expected implementations in the first quarter of 2003. We believe FINREAD to be increasingly important as a lever for sales opportunities in Europe in 2003-2004, and expect to bring our leading services to this platform as it gains traction in the marketplace." "While EMBASSY's open, programmable architecture is ideal for application's such as FINREAD secure home banking," Sprague said, "the platform is also capable of effortlessly running a wide range of important services, from financial services to health care, from PC security to a variety of government applications." Trusted Logic and Wave Systems have successfully leveraged their respective key strengths to create a product that meets the stringent requirements of secure Internet payment. "With this move, Trusted Logic adds another flavor to its Trusted Foundations software line, after an initial focus on the payment terminal industry," said Dominique Bolignano, president and CEO of Trusted Logic. "Our agreement with Wave Systems is in keeping with the company's long-term strategy to timely provide key technologies for a multi-facetted Java-embedded market and reinforce our leadership position." Trusted Logic will be demonstrating the result of this fruitful collaboration with Wave on its booth #3E015 at the Cartes 2002 Exhibition, to be held in Paris Nord Villepinte, on November 5-7, 2002. About Trusted Logic French start-up created in January 1999, Trusted Logic has enjoyed ever since an undisputed image of competence in the embedded systems industry. Technology enabler by excellence, Trusted Logic is at the leading edge of the Java(TM) embedded technology and has built the Trusted Foundations you need to bring the utmost security in your smart card or terminal business. Central to Trusted Logic strategy, our Trusted Foundations are accompanied by certification tools and 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 to offer the most comprehensive and reliable solutions. For more information about Trusted Logic, visit http://www.trusted-logic.com. About Wave Systems Wave Systems is a leader in trusted computing solutions and services, including its SignOnline(R) Suite of Services, a complete web-based digital signing and document storage solution. Wave Systems has developed hardware-based EMBASSY(R) Trusted Client In computing, a trusted client is a device or program controlled by the user of a service, but with restrictions designed to prevent its use in ways not authorised by the provider of the service. technology, a Wave TrustEdge(R) brand of products and the software-based SignOnline Suite of Services as foundation elements for trusted computing. Wave's TrustEdge product line is a comprehensive set of hardware, software, development tools and EMBASSY-based trust infrastructure that allows manufacturers of input devices to develop trusted platforms which are flexible and programmable to support authentication, logon See login. 1. (jargon) logon - login. 2. (networking) logon - In ACF/VTAM, an unformatted session-initiation request for a session between two logical units. , and identity vault requirements. TrustedEdge-enabled input devices are able to handle multi-factor authentication and identity credentials including passwords/PINs, smart cards, magnetic stripe cards A magnetic stripe card is a type of card capable of storing data by modifying the magnetism of tiny iron-based magnetic particles on a band of magnetic material on the card. and tokens. TrustEdge can be integrated into a wide range of input devices such as keyboards, smart card readers, biometric readers, cell phones and GPS sensors. For more information about Wave Systems, visit http://www.wave.com. Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. for Forward-Looking Statements Except for the statements of historical fact, the information presented herein constitutes forward-looking statements within the meaning of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include general economic and business conditions, the ability to fund operations, the ability to forge partnerships required for adoption and deployment, changes in consumer and corporate buying habits, chip development and production, the rapid pace of change in the technology industry and other factors over which Wave Systems Corp. has little or no control. Wave Systems assumes no obligation to publicly update or revise any forward-looking statements. |
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