Ponemon Institute Research Reveals Consumer Confidence in Online Banking Plummeting

Comodo offers authentication solutions that help bring customers back online

Jersey City, NJ (July 17, 2007) – 71% of UK retail banking customers do not rely on their banks to provide online security, according to research recently released by Unisys. A survey of 679 adults, conducted by the Ponemon Institute, revealed that the only factor outweighing security in regard to customer satisfaction was poor customer treatment. Previous research also indicated that 47% of these consumers would move their accounts to institutions possessing more effective fraud detection and online security.

Comodo helps bolster consumer confidence through its easy-to use, PKI-based authentication solution. Comodo Authentication Solution delivers one of the most secure authentication schemas available because it is Public Key Infrastructure (PKI)-based, recognized as a best practice in online security. Further, while delivering advanced authentication security that consumers need to feel reassured, it is delivered within an architecture proven to be one of the most user-friendly anywhere. Thus, Comodo Authentication Solution delivers both an easy-to- use and highly secure authentication process so customers can feel safe doing their online banking.

Comodo Authentication Solution incorporates several products, including Two Factor Authentication using a client certificate for authenticating the user to the institution, Comodo’s Content Verification Certificate (CVC) to protect key content from being spoofed by a phisher, an EV SSL Certificate for online visual authentication of a site’s identity, and an Email Certificate to provide a digital signature and encryption to Email correspondence.

Solution Overview

Two Factor (TF) Client Certificates

• Comodo TF is a FFIEC compliant two factor solution because it delivers digital certificates to end users’ PC thus converting their PCs into a “smart token”
• Comodo TF is easy for institutions to deploy because it delivers total digital lifecycle management functionality through a server application to automatically issue and manage customers’ digital certificates
• One of the lowest-cost solutions due to Comodo’s established PKI infrastructure and digital certificate lifecycle management processes.
• Doesn’t require members to alter their banking behavior once their DigitalID has been created, making it easy for customers to adopt
• Provides ease of integration, ease of adoption by members, and ease of configurability, reducing operational expenses.

Content Verification Certificates (CVC)

• Protects against man-in-the middle attacks, phishing and pharming
• Delivers non-browser “green good to go” indicator confirming a site’s identity
• Members can verify its identity using a reader (VerificationEngine) which can be easily downloaded

EV SSL Certificate

• Provides encryption and authentication of business identities with a new confirming green indicator in the address bar that is delivered through the browser’s interface
• The URL of the authenticated site turns green and displays the credentials of both the site owner and the Certification Authority that provided the certificate

Email Certificate

• Ensures that authentic Emails from a financial institution can be verified
• Uses a digital signature feature so customers will know they are responding to their own bank

“Online security and authentication, especially among financial institutions, has gone from a grey area to a flat-out demand,” said Melih Abdulhayoglu, CEO and Chief Security Architect of Comodo. “Banking customers know the dangers they face without authentication, but they don’t want to be hassled or confused in getting it. We are delighted that we can deliver both compliance and ease of use in the same solution.”

For more information on Comodo Authentication, please visit http://enterprise.comodo.com/ .

About Comodo

Comodo, through its group of Internet security companies, is a leading Certification Authority and global provider of Identity and Trust Assurance services on the Internet. Comodo secures and authenticates online transactions and communications for over 3,000,000 businesses and consumers.

With a global presence Comodo offers businesses and consumers third-generation solutions for intelligent security and authentication technologies that create trust online. Comodo’s technological expertise includes PKI digital certification , Code signing certification , integrated authentication infrastructure services , Web Content authentication , Secure messaging solutions , PCI compliancy scanning , SSL digital certificates including our flagship Instant SSL brand, HackerGuardian , Banking solutions including Two Factor Authentication , and digital e-commerce services .

For additional information on Comodo – Creating Trust Online® visit Comodo.com

For more information, reporters and analysts may contact:

Comodo
Email: media-relations@comodo.com
Office: +1 (888) 266-6361