SOURCE: Bharosa

February 07, 2007 12:00 ET

Data Security Systems Solutions Teams With Bharosa to Deliver Advanced Fraud Protection for End Users

Joint Solution to Help Financial Institutions and Enterprises Secure Transactions and Document Management

SANTA CLARA, CA and SINGAPORE -- (MARKET WIRE) -- February 7, 2007 -- Bharosa and Data Security Systems Solutions Inc. (DSSS) today announced plans to deliver advanced security solutions to combat the growing threat of consumer identity theft and fraud on the internet. Utilizing Bharosa technology, DSSS will provide real-time fraud detection to DSSS existing 2 Factor Authentication Server customers to enhance the security of their online services.

In return, DSSS will enable Bharosa to introduce DSSS 2FA and One Time Private Key (OTPK) technology to the US market. DSSS OTPK technology allows users to perform on-the-fly, strong digital signatures by generating their signing keys and using strong authentication to certify the signing keys and sign the transaction/document; after which the signing keys are erased. The joint offering will provide financial institutions and enterprises with the robust arsenal of security tools they need -- from user authentication to transaction and document security -- with full real-time fraud detection, to protect end users while complying with industry security guidance and regulations.

As part of its security strategy, DSSS will OEM fraud detection capabilities from Bharosa to provide an enhanced offering for its rapidly growing customer base including some of the largest Financial Institutions in Asia. Bharosa, an award-winning, privately held Silicon Valley company, has quickly joined the ranks of the industry's largest security providers and is now securing over 20 million users in over 1,000 enterprises worldwide.

"In a continually shifting threat landscape, financial institutions must provide the most advanced, yet user-friendly forms of transaction security," said Zvi Efroni, Managing Director of Data Security Systems Solutions. "DSSS will combine Bharosa's products with its own 2FA and OTPK Platform to offer enhanced, complete, yet seamless protection against the most sophisticated fraud attacks."

Consumer anxiety about internet security caused a $2 billion loss in e-commerce and banking transactions in 2006, according to Avivah Litan, vice president and analyst at Gartner. Litan said that organizations are going to have to work to regain consumer trust.

Using Bharosa and DSSS together, companies can defend against the latest online threats, including account takeover schemes and man-in-the-middle attacks, to restore trust in internet transactions. The combined offering will utilize advanced authentication and fraud detection to score risk and alert organizations in real-time to potential fraud threats. In addition, the Bharosa/DSSS solution enables companies to employ a range of security options, including certification of signing keys and enhancement of transaction security with digital signatures for non-repudiation, as well as to meet diverse user requirements or upgrade to higher levels of protection as threats increase without reinvesting in infrastructure.

"In 2007, financial institutions and online retailers will need to step up their security efforts to keep pace with new fraud schemes, increased pressure from industry regulators and consumer demands," said Jon Fisher, Bharosa CEO. "Bharosa enables information security providers like DSSS to bring best of breed identity theft solutions to market so companies can balance security and usability requirements while staying one step ahead of the most sophisticated fraud threats."

About Bharosa

Bharosa is a global provider of proactive, real-time fraud detection and multifactor online authentication security solutions for the enterprise. Bharosa's Tracker product works behind the scenes to verify a host of factors used to confirm a user's identity, including the user's computer, location and online behavior. Tracker scores risk through a unique and proprietary "gated" security method and responds to risk in real time by increasing online security. Tracker offers strong asset and transaction authentication security that can be implemented without requiring any change to the online experience.

Another Bharosa enterprise product, Authenticator, protects sensitive data from Phishing, Trojans and Proxy-Based Fraud. Tracker and Authenticator together form the organization's most powerful weapon in the fight against online identity theft.

Bharosa, Inc. is a privately held company founded in May 2003 and headquartered in Santa Clara, California. More information is available at www.bharosa.com.

About Data Security Systems Solutions

Headquartered in Singapore, Data Security Systems Solutions develops world-class authentication solutions for enterprises, banks and governments that provide strong authentication that is most critical to online businesses. Its flagship product, the DSSS Authentication Server Network Appliance, offers a multi-factor authentication system which is fully customizable and platform independent that organizations can deploy to create a strong barrier against unauthorized access and protect online data resources from malicious intrusions, through the support of major authentication methods with minimal integration.

Most recently, DSSS was conferred "DEMOgod" in DEMOfall 2006, the premier launch venue for new products, technologies and companies that significantly impact the marketplace and set market trends in the coming year, for our One Time Private Key (OTPK) technology to implement digital signature to the consumer market for On-Line Enterprise and Mobile applications.

For more information about Data Security Systems Solutions, visit our web site at http://www.dsssasia.com or call +65-62959101 or email: sales@dsssasia.com.

Contact Information

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

    Press Contact for DSSS:
    Kelvin Teo
    Email Contact
    +65 62959101