Totalserve to Use DIGIPASS as a Service to Authenticate Client Instructions
OAKBROOK TERRACE, Ill. and ZURICH, May 8, 2012 /PRNewswire/ -- VASCO Data Security International, Inc. (Nasdaq: VDSI; www.vasco.com), announced today that leading international tax and corporate services consultancy firm, Totalserve Management Ltd, (www.totalserve.eu) will utilize VASCO's DIGIPASS as a Service to authenticate instructions received from their global clientele and to protect their bank account transactions.
Totalserve is an international tax, trust and corporate services company based in Cyprus, with 250 employees and 12 offices in 10 countries around the world. It specializes in the areas of international tax planning, worldwide corporate services, including company registrations, and the creation of international trusts. It also offers full management and administration of companies and trusts. Finally, it provides ship registration and ship management services.
Totalserve will use DIGIPASS as a Service to replace its obsolete fax and paper-based authentication and signature system. DIGIPASS as a Service is VASCO's cloud-based authentication service that makes use of VASCO's proprietary authentication technology. Web application providers can focus on their core business while VASCO takes care of all aspects of securing their network and applications in an outsourced service model. Outsourcing its authentication and transaction signing needs to VASCO allows Totalserve to focus on its above-mentioned core activities.
"High-level service, security, speed, efficiency and above all trust, are crucial in our line of business," said Totalserve's Chairman, Peter G. Economides. "We have chosen VASCO's DIGIPASS as a Service to help us better address all of the above. At the same time, DIGIPASS as a Service gives us the opportunity to streamline a crucial part of our business that was not within our comfort zone. This allows us to safeguard communication from our clients, optimize the management of our resources and to get rid of superfluous paper work."
"We are happy to win a first DIGIPASS as a Service customer in the Eastern Mediterranean and would like to thank Totalserve for their confidence and the smooth cooperation," said T. Kendall Hunt, VASCO's Chairman and CEO. "Together, we will bring the security level of Totalserve clients' instructions and transactions to the next level."
About VASCO Data Security
VASCO is a leading supplier of strong authentication and e-signature solutions and services specializing in Internet Security applications and transactions. VASCO has positioned itself as global software company for Internet Security serving a customer base of approximately 10,000 companies in more than 100 countries, including approximately 1,700 international financial institutions. VASCO's prime markets are the financial sector, enterprise security, e-commerce and e-government.
Forward Looking Statements:
Statements made in this news release that relate to future plans, events or performances are forward-looking statements. These forward-looking statements (1) are identified by use of terms and phrases such as "expect", "believe", "will", "anticipate", "emerging", "intend", "plan", "could", "may", "estimate", "should", "objective" and "goal", "possible", "potential", and similar words and expressions, but such words and phrases are not the exclusive means of identifying them, and (2) are subject to risks and uncertainties and represent our present expectations or beliefs concerning future events. VASCO cautions that the forward-looking statements are qualified by important factors that could cause actual results to differ materially from those in the forward-looking statements. These risks, uncertainties and other factors have been described in greater detail in the Annual Report on Form 10-K for the fiscal year ended December 31, 2011 filed with the Securities and Exchange Commission and include, but are not limited to, (a) risks of general market conditions, including currency fluctuations and the uncertainties in world economic and financial markets, (b) risks inherent to the computer and network security industry, including rapidly changing technology, evolving industry standards, increasing numbers of patent infringement claims, changes in customer requirements, price competitive bidding, and changing government regulations, and (c) risks specific to VASCO, including, demand for our products and services, competition from more established firms and others, pressures on price levels and our historical dependence on relatively few products, certain suppliers and certain key customers. Reference is made to VASCO's public filings with the U.S. Securities and Exchange Commission for further information regarding VASCO and its operations.
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