SOURCE: GuardTime


September 19, 2011 11:48 ET

GuardTime Keyless Signatures Sign 98% of SEB Estonia Banking Transactions, Protecting Against Fraud

MOUNTAINVIEW, CA and TALLINN, ESTONIA--(Marketwire - Sep 19, 2011) - GuardTime (, creator of the patented Keyless Signature technology used to convert the trust relationship between business operations and data to one based on proof, today announced that SEB Estonia, a member of the international SEB Group, has selected the Keyless Signature Service for assuring the integrity for all of their electronic banking transactions, providing customers with indisputable proof that the bank's assets are protected against insider attacks, external breaches and fraud.

Ninety-eight percent of all banking transactions at SEB Estonia are carried out electronically; at an ATM, online via the web, or through a mobile device. By signing their banking transaction logs using the GuardTime Keyless Signature Service, SEB Estonia can be assured that attacks against, and the misuse of, their systems and data becomes impossible to conceal.

"With GuardTime's unique Keyless Signatures service, we are now able to independently prove the time, origin and content for all of our electronic banking transactions," said Kaido Raiend, Head of IT Security Analysis for SEB Estonia. "As tampered data becomes mathematically-capable to detect, we have the legal proof necessary to confirm that the transactions were conducted and recorded at the times specified and that they remain intact and accurate -- even if GuardTime ever ceased to exist."

GuardTime's Keyless Signatures are stored and archived with each and every SEB Estonia transaction log, providing SEB Estonia proof of time and integrity for the life of their data. As the signatures do not use any public/private encryption keys for long-term verification, the proof will never expire. The signatures are portable, thereby enabling SEB Estonia to electronically archive their signed logs without loss of legal strength; this substantially reduces the bank's risk as well as their overall paper-based and digital archiving costs.

Around the globe, financial institutions, hardware manufacturers, Telco operators, cloud service providers, legal entities, and insurance companies are using the GuardTime service to make the electronic world a safer place; a world based on proof rather than trust.

About SEB Estonia
AS SEB Pank, a member of SEB Group, is an Estonian financial group that serves private individuals, companies and the public sector. The bank is a universal bank that offers its customers a wide range of financial services. The more than 820,000 customers of SEB Pank Group are served by 1300 employees. The customers are served through many different channels such as 38 branch offices, 226 on-line post offices, 350 ATMs, 6191 POS-terminals. There are more than 500 000 debit and credit cards in use. ¾ of customers are served over Internetbank. For more information, visit

About GuardTime
A Red Herring Global 100 Winner and Frost & Sullivan Product Innovation Award Winner, GuardTime was founded with the goal of solving one of the biggest problems in computing: trust. GuardTime's Keyless Signatures provide proof of data integrity, signing authority, and time. The verification of the signature can be done both online and offline and does not rely on keys, secrets, or the existence of a trusted third party. GuardTime's mission is to change the world to one where keyless signatures are ubiquitous and a natural part of the everyday data lifecycle, whether on disk, in transit or in the cloud.

Visit for more information about using Keyless Signatures for signing data.

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