HONG KONG, 21 December 2005 – SafeNet, Inc. (NASDAQ:
SFNT), setting the standard for information security, today
announced the partnership with Tradelink Electronic Commerce
Limited (‘Tradelink’) to provide two-factor
authentication solution for banking and finance industries
in Hong Kong.
Tradelink is Hong Kong’s largest e-commerce service
provider, currently serving the needs of electronic documents
of over 54,000 companies in the local trading community.
In view of the increasing acceptance of Internet banking
services and the growing sophistication of Internet banking
frauds, the Hong Kong Monetary Authority has recommended
to implement two-factor authentication for high-risk retail
Internet banking transactions. Banks offering high-risk
retail Internet banking transactions will have two-factor
authentication ready for their customers by June 2005. Therefore,
banks have been looking for security devices and/or solution
to prevent fraud and ensure high level of internet transaction
security.
SafeNet and Tradelink’s wholly owned subsidiary,
Digi-Sign Certification Services Limited, have been working
together on an Internet banking project for a reputable
Chinese bank in the region recently and the project is expected
to be launched this year. “We are pleased to work
with Tradelink for this customer. Tradelink has its expertise
on gathering best-of-the-breed products for its customer
and we are confident that both bank and its customers will
be benefits from our solution offered.” said Humphrey
Chan, Vice President of Asia Pacific, SafeNet Asia.
“The adoption of two-factor authentication strengthens
the security controls of Internet banking and protects customers
from Internet banking frauds," said Justin Yue, CEO
of Tradelink. “Tradelink and SafeNet have seen the
need for local banks and we believe SafeNet’s iKey
USB authentication token is one of the best security devices
to prevent Internet fraud and protect personal data.”
SafeNet’s iKey™ offers a compact hardware solution
for authentication and digital identity management. While
offering similar functionality to a smartcard, iKey packs
two-factor authentication, encryption key management, and
digital signing functionality into a tiny, secure package
that includes an integrated USB port to eliminate the need
for a separate reader device.
