SOURCE: Nicaragua Rising, Inc.

March 17, 2010 08:30 ET

Ceelox Announces Bank Security Products - Financial Services: Identity Access Authentication and Data Security Suite

TAMPA, FL--(Marketwire - March 17, 2010) -  Ceelox, Inc. introduces a suite of products that address the issues regarding protection of banking information with Ceelox Financial Services: Identity Access Authentication and Data Security Suite. Ceelox ID®, Ceelox Vault™, Ceelox SecureMail™, and Ceelox ID Online™ protect a financial institution's sensitive data against theft, loss and misuse. Ceelox is a biometric software security company offering employee and customer identity access authentication and data and email encryption. Ceelox is a majority-owned operating subsidiary of Nicaragua Rising, Inc. (OTCBB: NCRG) (the "Company" or "Nicaragua"). 

In order to be compliant with the regulatory requirements set forth by the FDIC, FFIEC, GLBA, State Breach Laws and more, financial institutions must secure customer Personally Identifiable Information (PII) and financial institutions must protect themselves and their depositors from losses due to hacker attempts to compromise valid online banking credentials.

Secure Access to Critical Core Bank Processing Systems.

The Ceelox Security Suite ensures that only a financial institution's authorized employees have access to its core banking systems, its customers' valid banking credentials, and PII.

Eliminate Weak Password Access.

Passwords are the weakest form of access authentication. Passwords are subject to numerous forms of successful cyber attacks. Attempts to make them stronger, by requiring them to be more complicated and changed frequently, have failed. These changes result in users writing down their passwords, and increased password administration costs, and help desk costs. We believe that the Ceelox Secu­rity Suite dramatically reduces the risks inherent in password access and the cost of password administration and support.

Eliminate losses resulting from unauthorized electronic fund transfers (EFTs), such as automated clearing house (ACH) and wire transfers.

"Web-based commercial EFT origination applications are being targeted by malicious software, including Trojan horse programs, key loggers and other spoofing techniques," says an FDIC alert issued last year. Ceelox' patent pending method for online biometric customer authentication virtually eliminates all the fraudulent techniques identified in the FDIC alert. With Ceelox ID Online, banking customers' valid online banking credentials are safe from hackers.

Encrypt PII and other Sensitive Data.

Over 100 million PII records were breached in 2006, and the problem is growing. The Identity Theft Resource Center (ITRC) reported more than 222 million compromised records in 2009. "Existing solutions have failed to address the problem. Companies shouldn't risk their reputation on weak, complicated or non-existent data security," said Ceelox CEO, Gerry Euston. The Ceelox Security Suite's simple drag and drop encryption could not be easier. Your data, whether at rest on the desktop, or in transit on the laptop, or a portable memory device, would be secured with the strongest file and folder level, biometric identity-based, encryption available.

Provide Immediate Response to Customers' Inquiries with Secure and Compliant Email.

Unencrypted emails expose bank depositors and banks to breach. The Ceelox Security Suite provides desktop-to-desktop, ironclad encryption compliant with interagency guidelines for in transit customer data. Sending customer statements or communicating internally or externally is now secure and easy. With an Outlook™ plug-in and biometric authentication, email encryption is as simple as the swipe of your finger or the click of your mouse.

Software Benefits:

  • Provides the most definitive real-time authentication tool available.
  • Provides unquestionable audit trails to support monitoring and regulatory compliance documentation.
  • Integrates seamlessly with Windows Active Directory while supporting AD credentialing privileges
  • Ceelox products are more cost effective and easier to implement than competitors' tokens or passwords.

Ceelox Financial Services: Identity Access Management and Data Security Suite. Ceelox ID® Ceelox Vault™ Ceelox SecureMail™ Ceelox ID Online™

Ceelox ID® biometric authentication soft­ware provides the most definitive real-time authentication tool available. Significantly reduce or eliminate fraud from compromised customer credentials. It is easy to admin­ister and easier to use. Deploy where necessary to meet two-factor authentication regu­latory requirements. Alternatively, eliminate passwords altogether and at the same time eliminate the overhead related to password policy and administration and eliminate the 40% of help desk calls for user name and password resets. No complicated passwords that re­quire frequent change. No more passwords on sticky notes posted to monitors.

Ceelox SecureMail™ is a simple, but powerful email encryption tool that insures data security from desktop-to-desktop and eliminates email exposure inherent in elec­tronic communications. Email and attach­ments are encrypted directly on the sender's computer and decrypted on the recipient's computer. No more Personally Identifiable Information floating around on the email server or the desktop. Ceelox SecureMail™ offers the added security of our exclusive biometric digital signature. In addition, a decrypt-only version is available for free for all of a financial institution's customers.

Ceelox Vault™ is the most secure data storage solution for a financial institution's data at rest or in transit. Other encryption solutions use pass­word access -- no matter how strong the en­cryption -- security is only as strong as your password. Ceelox Vault™ combines the most powerful encryption available with added fingerprint biometric security. Most encryp­tion tools fail because they are too com­plicated and take too long to use. Ceelox Vault™ is as easy as drag and drop. Our products help reduce a financial institution's exposure to data breach and, at the same time, meet regulatory compliance.

Ceelox ID Online™ is a software portal that easily and quickly integrates into a financial institution's systems. Ceelox ID Online™ provides an additional layer of security that sits on top of a financial institution's existing security. Our single or two-factor authentication significantly enhances the security of online banking, wire transfer and ACH applications. Any ap­plication accessible today with user name and password benefits from the addition of strong biometric security.

About Nicaragua Rising, Inc.
Nicaragua Rising, Inc., through its majority-owned operating subsidiary, Ceelox, Inc., is a developer of biometric security and encryption software solutions for financial institutions, healthcare companies, utilities, government agencies and other organizations for whom information access are key concerns. Its security and encryption tools are easy to deploy, simple to use, cost-effective and affordable for organizations of all sizes. 

Notice Regarding Forward-Looking Statements
This news release contains "forward-looking statements" as that term is defined in Section 27A of the United States Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, the development, costs and results of new business opportunities. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with new projects and development stage companies. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factor disclosure outlined in our Form 8-K filed with the Securities and Exchange Commission on February 12, 2010 and other periodic reports filed from time-to-time with the Securities and Exchange Commission.

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