Diversinet Corp.
OTC Bulletin Board : DVNTF

Diversinet Corp.

June 28, 2005 08:25 ET

Diversinet Launches MobiSecure Tokens for PCs

TORONTO, ONTARIO--(CCNMatthews - June 28, 2005) -

Soft Token for Laptops and Desktops Powers Mass-Market OATH-compliant Strong Authentication, Reducing the Need for Costly and Difficult to Deploy Hard Tokens

Diversinet Corp. (OTCBB:DVNTF), a leading provider of mobile device security and authentication solutions for the mobile data ecosystem, today announced its line of MobiSecure PC Tokens.

MobiSecure PC Tokens are the industry's first OATH-compliant Microsoft Windows-based soft tokens specifically designed for large-scale One Time Password (OTP) strong authentication deployments by banks, on-line commerce vendors and service providers. With the addition of MobiSecure PC Tokens to our family of authentication solutions, Diversinet believes its addressable market exceeds 2 billion potential users world-wide. MobiSecure PC Tokens allows users to easily access different services such as home banking, WiFi hotspots, or on-line communities.

"MobiSecure PC Tokens are strategic for us in that it broadens our addressable market to all PC users even if they do not carry a mobile device," stated Michael O'Farrell, Diversinet's Chief Marketing Officer. "The personal computer is the most common device for conducting on-line transactions, so it's essential that the user's identity be secured against the ever-growing number of threats such as hacking, phishing and identity theft."

Financial institutions are incurring significant costs from identity theft and malware. According to IDC, U.S. and international financial institutions lost up to $400 million from phishing in 2004, and they are suffering even more from the erosion in customer trust that identify theft and malware incidents are causing. Identity theft has been taking its toll on banks and their customer relationships. In a recent survey of 1,000 U.S. consumers conducted in January 2005, IDC found that close to 60% expressed concern about identity theft, and close to 6% admitted to switching banks to reduce their risk of becoming a victim of identity theft.

Traditional strong authentication solutions have relied on the use of proprietary hardware devices such as hard tokens, USB tokens or smart cards to provide one-time-password credentials for on-line login access. These systems work well, but the cost and complexity of deployment have prevented widespread consumer adoption. Protecting consumers will require the deployment of millions of such units, and the cost of purchasing, distributing and managing that amount of hardware will drive operational and maintenance costs to unacceptable levels. Diversinet's MobiSecure PC Tokens are ideal for organizations that want the strength, convenience and simplified deployment of dynamic password solutions without the overhead and cost of hardware distribution.

Diversinet's MobiSecure PC Tokens are a cost-effective, Microsoft Windows-based solution for strong authentication using OATH-compliant One-Time-Passwords. The PC tokens come in a variety of flavors depending on the type of user application to be supported:

- Browser Plug-in: The MobiSecure PC soft token can work directly with the web browser, integrating seamlessly with a web application to provide OTP authentication as part of the user login process. Because the web application obtains the OTP directly from the MobiSecure soft token loaded on the PC, the user does not have to enter the OTP value into the login screen. This process is much simpler than traditional hardware token use where the PC user has to manually enter the OTP on the log-in screen.

- Standalone Token: The MobiSecure PC soft token can run as an application that displays an OTP value upon request from the user. This is similar to the traditional hardware token model. An optional password can be required for accessing the soft token.

- API Token: Any PC application can be modified to directly obtain an OTP from the MobiSecure soft token. A simple API lets application providers to take advantage of standards-based OTP functionality to strengthen the user authentication process for their PC applications.

MobiSecure PC Tokens will be available for commercial release starting in the Fall of 2005. To be considered for pre-commercial pilot programs, please contact us at www.diversinet.com.

About Diversinet (OTCBB:DVNTF)

Diversinet is a leading provider of mobile device security and authentication solutions for the mobile data ecosystem. Diversinet products and services allow users to protect their identity, data and device for personal communications and commercial transactions. The Diversinet MobiSecure suite of mobile tokens and MobiSecure Authentication Service Center enable application providers, mobile network operators and security service providers to rapidly develop, deploy and manage secure mobile data services for the over 1.5 billion mobile device users worldwide. MobiSecure is the industry's first open mobile security platform to support OATH-Compliant strong authentication on mobile devices and networks. For more information about the initiative for Open AuTHentication (OATH) visit www.openauthentication.org. Connect with Diversinet Corp. at www.diversinet.com.

The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for forward-looking statements. Certain information included in this press release (as well as information included in oral statements or other written statements made or to be made by the company) contains statements that are forward-looking, such as statements relating to anticipated future revenues of the company and success of current product offerings. Such forward-looking information involves important risks and uncertainties that could significantly affect anticipated results in the future and, accordingly, such results may differ materially from those expressed in any forward-looking statements made by or on behalf of the company. For a description of additional risks and uncertainties, please refer to the company's filings with the Securities and Exchange Commission.

Contact Information

  • Diversinet Corp.
    Michael O'Farrell
    Chief Marketing Officer
    (416) 756-2324 ext. 236
    Sacke & Associates Inc.
    Gary Hilson
    Senior Account Consultant
    (416) 493-5723 ext. 203