SOURCE: Arcot Systems, Inc.

May 20, 2008 09:00 ET

Standard Chartered Bank Selects Arcot's Hosted Online Payment Security

SUNNYVALE, CA--(Marketwire - May 20, 2008) - Standard Chartered Bank, India's largest international bank, has selected Arcot Systems to provide a higher level of security for its 2.1 million customers when paying online with credit and debit cards. Arcot, a leading provider of secure e-payment and authentication solutions, will deliver a hosted, comprehensive solution called TransFort™ to support the bank's implementation of Verified By Visa™ and MasterCard® SecureCode™ for online transaction security. Arcot will host the service in its SAS 70 certified, PCI DSS-compliant data center.

Murali Natrajan, regional head of consumer banking, India & Nepal, Standard Chartered Bank, said, "This gives our cardholders and merchants an extra level of protection, by verifying the cardholder's identity, when paying online. We chose Arcot because of their deep experience in online payment security, and the fact that they can provide the entire solution as a hosted service."

Verified By Visa and MasterCard SecureCode are based on the 3-D Secure global standard; the programs are designed to bring the same level of security to Internet shopping as is available in the physical world by using a customer selected password to confirm that the online buyer is the actual cardholder. The extra layer of authentication takes place on Arcot's server, so the password is never visible to the merchant's website. Arcot co-developed, with Visa, the 3-D Secure protocol and is the leading technology provider now protecting more than 18 million cardholder accounts, 11,000 banks and 100,000 merchants worldwide.

"We are pleased that Standard Chartered Bank has recognized the value of Arcot's hosted services for online payment security," said Ram Varadarajan, CEO of Arcot Systems. "Their decision adds a significant new layer of protection against the risks of online card fraud for cardholders and merchants."

About Standard Chartered Bank

Standard Chartered Bank is India's largest international bank with 83 branches in 33 cities, having a combined customer base of 2.1 million in retail banking and over 1,000 top corporate relationships. Key businesses include Consumer Banking -- primarily credit cards, mortgages, personal loans and wealth management -- and Wholesale Banking, where the Bank specializes in the provision of cash management, trade, finance, treasury and custody services.

About Arcot Systems

Arcot Systems is a leading provider of risk-based authentication, strong authentication, digital signing and cardholder authentication solutions. The company makes online transactions safe for millions of customers by blocking fraud and protecting access. Arcot technology defends against Internet threats including phishing, man-in-the-middle, and spyware. Its software-only authentication solutions eliminate the need for hardware tokens and complex login processes providing customers with strong authentication with the simplicity of a username/password interface. Arcot offerings are compliant with U.S. and international standards including 3-D Secure, IdenTrust, SAFE and FFIEC Internet Banking Authentication recommendations. For more information, visit http://www.arcot.com.

Arcot, Arcot Transfort and ArcotID are registered trademarks of Arcot Systems Inc. All other trademarks are the property of their respective owners, and are used for identification purposes only.

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