SOURCE: Bharosa

December 22, 2006 17:42 ET

1st Source Corporation Selects Bharosa to Bolster Online Banking Security, Meet FFIEC Year-End Deadline

Bharosa Helps Leading Banks Protect Customers Against Identity Theft While Meeting Industry Authentication Guidelines in the Fastest Possible Time Frame

SOUTH BEND, IN and SANTA CLARA, CA -- (MARKET WIRE) -- December 22, 2006 -- 1st Source Bank is making its online banking system even safer. 1st Source Corporation, parent company of 1st Source Bank (NASDAQ: SRCE), the largest locally controlled financial institution headquartered in the northern Indiana-southwestern Michigan area, and Bharosa, a global provider of proactive, real-time fraud detection and multifactor authentication solutions, today announced that 1st Source will use Bharosa's solution to provide advanced security for its online banking clients. Bharosa's Authenticator and Tracker products are helping industry leading financial institutions deploy consumer-friendly security measures and quickly comply with the Federal Financial Institutions Examination Council (FFIEC) year-end deadline calling for secure Internet banking practices.

"Our aim at 1st Source is to provide exceptional client service," said Don Miller, Senior Vice President, Operations Group, of 1st Source Corporation. "Because protecting our online users against growing fraud threats and complying with industry guidelines are top priorities, we selected Bharosa to help us enhance our client service by providing a 'quick-to-market' solution that offers the most advanced fraud detection and authentication capabilities in a cost-conscious manner."

1st Source will deploy several software products from Bharosa, including Bharosa Tracker real-time fraud detection and strong, multifactor authentication to provide enhanced security for online users. With over a century long history, 1st Source continues to distinguish itself with innovative products and highly personalized services and is proud of its tradition of providing superior products to customers. By utilizing Bharosa's solution, 1st Source will offer its customers an easy-to-use, yet highly secure way to protect online activities. Equally important, by using Bharosa's Universal Installation Option (UIO), which enables seamless integration with 3rd party banking platforms, 1st Source will be able to greatly enhance Internet security measures and meet regulatory deadlines without significant deployment effort.

In a recent report by Javelin Strategy and Research entitled "Beyond FFIEC Compliance: Creating an Evolving Authentication Platform for Higher Lifetime Consumer Value," Bharosa was ranked highly in the top tier of providers capable of delivering solutions that successfully achieve the balance between effectiveness and customer convenience in the presence of a continually shifting landscape. Using Bharosa, clients can be authenticated using multiple factors such as the device used to login, the user's geographic location or behavioral profiles within the Bharosa Tracker, and by employing Bharosa Authenticator for incremental levels of security. Tracker scores risk and alerts an organization in real-time to potential fraud threats and can also request secondary forms of authentication for suspicious or high-risk transactions.

"Utilizing Bharosa products, 1st Source will be able to strengthen online security measures and address the growing sophistication of Internet threats without significant development effort or impact to the online experience," said Jon Fisher, Bharosa CEO. "It is important to not only help our customers quickly comply with the FFIEC guidelines in a cost-effective manner, but also to implement a long-term, customer friendly fraud strategy for their organization."

About Bharosa

Bharosa proactively protects digital identities, assets, and transactions against compromise. Many of the industry's leaders and technology innovators, including Oracle, Wells Fargo, National City, Sky Financial, Silicon Valley Bank, and the US Air Force, rely on Bharosa's solutions to provide the multiple layers of risk analysis and identity management necessary to guard online channels against escalating fraud threats. Bharosa's portfolio of real-time fraud detection and multifactor authentication solutions enables a convenient and powerful weapon in the fight against online identity theft. No other authentication technology can deliver military grade security in a web-based solution while meeting the ease of implementation, low-cost, and efficiency requirements of the consumer market. Bharosa, Inc. is a privately held company founded in May 2003 and headquartered in Santa Clara, California. More information is available at

About 1st Source

1st Source is the largest locally controlled financial institution headquartered and serving the northern Indiana-southwestern Michigan area. While delivering a comprehensive range of consumer and commercial banking services, 1st Source Bank distinguishes itself with highly personalized services. 1st Source Bank also competes for business nationally by offering specialized financing services for new and used private and cargo aircraft, automobiles for leasing and rental agencies, medium and heavy duty trucks, construction and environmental equipment. The Corporation includes 67 banking centers in 16 counties, Trustcorp Mortgage offices in Indiana and Ohio, and 24 locations nationwide for the 1st Source Bank Specialty Finance Group. With a history dating back to 1863, 1st Source Bank has a tradition of providing superior service to clients while playing a leadership role in the continued development of the communities in which it serves. 1st Source may be accessed on its home page at ""

Contact Information

  • Press Contacts:
    Lorraine Kauffman-Hall
    Email Contact
    (704) 882-0443

    1st Source contact:
    Melissa Collins
    Marketing Director
    Email Contact