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StrikeForce Is Awarded a Multi-Year Licensing Contract for Its Out-of-Band Authentication Platform From One of the Nation's Largest Financial Service CompaniesFinancial Company Will Utilize StrikeForce's Out-of-Band Authentication for Employees and More Than 12 Million Customers (November 15, 2011)
EDISON, NJ -- (Marketwire) -- 11/15/11 -- StrikeForce Technologies, Inc. (OTCBB: SFOR) announced today that it has been awarded a multi-year renewable licensing contract for its patented ProtectID® Two-Factor Out-of-Band Authentication Platform from one of the Nation's largest Financial Services Companies which specializes in Education. StrikeForce's Out-of-Band platform will be utilized to Authenticate employees, loan administrators and potentially more than 12 million customers.
"We are very pleased to have won this highly coveted multi-year contract," says Mark L. Kay, StrikeForce's CEO. "They are one of our nation's most prestigious financial companies."
"Upon completion of their evaluation & testing process, our ProtectID Out-of-Band Authentication Technology emerged as the 'Best of Breed' and clear choice for their needs," says Kay.
We are the only data securities industry authentication provider that offers all of the following in one platform:
- Offers Six Out-of-Band Authentication Methods
- Offers Three types of Hard Tokens
- Offers multiple Soft Tokens: iPhone, BlackBerry, Desktop, PDAs, J2ME, others
- Offers Transaction Verification
- Supports Risk Based and Step-up Authentication systems
- Can be installed and managed 100% on customer premise, using customer database
- Can be managed via our SAS70 Cloud Service
- Can be installed and managed on-premise, yet utilize our cloud dialer (hybrid model)
- Offers Authentication Redundancy (any auth method can be a backup for another auth method)
- Supports VPN, Citrix, Domain, Web Applications, Single Sign-On
Our customers' objective for the solution was to implement an authentication platform that is ubiquitous, easy to deploy and support, increase/enhance security, meet compliance requirements, and enable the users to access their "technology" in a way that is not overly burdensome/cumbersome for the end-user. The solution needed to support a telephone to perform multi-factor Out-of-Band authentication and will not require the user to maintain any other device, such as a hard token or mobile single use authentication device. The solution is also expected to be more cost effective than using traditional tokens, even with multiple accesses (logins) per day.
"Clearly, they had extremely high goals for choosing a technology solution and partner," says Kay, "and more importantly, we were the only vendor with the product that met their challenge."
Under the terms of this new contract, StrikeForce licensed its ProtectID product for a renewable multi-year term for an unlimited use license generating annual recurring revenues. StrikeForce's patented ProtectID product continues to establish itself as the leader in the financial market by winning the business of Fortune 500 companies and others with our renowned Identity Theft bundled solutions.
ABOUT STRIKEFORCE TECHNOLOGIES, INC.
StrikeForce Technologies 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.
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.
Investor Relations Contact:
BlueWater Advisory Group, LLC.
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