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Spencer Savings Bank Deploys StrikeForce's ProtectID(R) "Out-of-Band" Authentication Platform to Protect Corporate Assets & Meet Regulatory Compliance RequirementsThis Is the Fourth Financial Institution in the Past Six Weeks That Has Chosen StrikeForce's Authentication Platform (January 10, 2012)
EDISON, NJ -- (Marketwire) -- 01/10/12 -- StrikeForce Technologies (OTCBB: SFOR), an innovator in the prevention of online Identity Theft and Data Breaches for enterprise, financial institutions, government and consumers, announced today that Spencer Bank has deployed its ProtectID "Out-of-Band" Authentication Software to protect corporate assets and meet regulatory compliance.
"After reviewing other top authentication technology vendors, it became clear that StrikeForce's ProtectID was the only technology that could meet our requirements," said Jonathan Shachov, Assistant Vice President for Spencer Bank. "No other authentication technology that we looked at offered as many deployment choices (on-premise, cloud or hybrid), as well as authentication methods ('Out-of-Band,' Hard Tokens & Mobile Tokens), as StrikeForce's ProtectID. Additionally, their technology offers authentication redundancy, and they are the patent holder for 'Out-of-Band Authentication,' setting the bar high for what an authentication technology should offer. In my opinion, there's no reason to look anywhere else."
"We are very pleased that Spencer Savings Bank has chosen our ProtectID 'Out-of-Band' Authentication Platform to protect their corporate assets and thereby aid in meeting FFIEC compliance requirements," says Mark L. Kay, CEO of StrikeForce. "It just further validates the robustness and flexibility of our Authentication and Transaction Authorization Technology that is protected by our 'Out-of-Band' Patent No. 7,870,599."
"This is our fourth announcement in the last six weeks specific to financial institutions choosing to license our ProtectID 'Out-of-Band' Authentication Platform to authenticate users and/or authorize transactions," says Kay, "and we are proud that one of our channel partners in the U.S., Datanet 2000 Inc., brought us this sale and is working on many other financial and government opportunities for our products."
About StrikeForce Technologies, Inc:
StrikeForce Technologies, Inc. (www.strikeforcetech.com) helps to prevent online identity theft and data security breaches for consumers, corporations, and government agencies. It provides powerful two-factor, 'Out-of-Band' authentication and keystroke encryption solutions. StrikeForce Technologies, Inc. (OTCBB: SFOR) is headquartered in Edison, N.J., and can be reached at www.strikeforcetech.com or by phone at (732) 661-9641 or toll-free at (866) 787-4542.
About Spencer Savings Bank:
Spencer Savings Bank, headquartered in Elmwood Park, New Jersey, is a community bank that has been serving its local communities with integrity and pride for over 70 years. The Bank, serving consumers and businesses, operates 19 branches throughout Northern New Jersey. Spencer Savings Bank has over $1.8 billion in total
Safe Harbor Statement
Matters discussed in this press release contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this press release, the words "anticipate," "believe," "estimate," "may," "intend," "expect" and similar expressions identify such forward-looking statements. Actual results, performance or achievements could differ materially from those contemplated, expressed or implied by the forward-looking statements contained herein. These forward-looking statements are based largely on the expectations of the Company and are subject to a number of risks and uncertainties. These include, but are not limited to, risks and uncertainties associated with: the sales of the company's identity protection software products into various channels and market sectors, the issuance of the company's pending patent application, and the impact of economic, competitive and other factors affecting the Company and its operations, markets, product, and distributor performance, the impact on the national and local economies resulting from terrorist actions, and U.S. actions subsequently; and other factors detailed in reports filed by the Company.
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