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Boiling Springs Savings Bank chooses Comodo's Two Factor Authentication Solution to meet 2006 FFIEC guidelines

Boiling Springs Savings Bank's best practices approach to mutual authentication incorporates PKI based client certificates to deliver strong identity assurance protection that is highly configurable and at the lowest cost of any PKI based solution on the market today

Jersey City, NJ (November 16, 2006) - Comodo , a global Certification Authority and leading provider of Identity and Trust Assurance Management solutions, announced today that Boiling Springs Savings Bank is deploying Comodo's PKI-based Two Factor (TF) authentication solution as a critical component of its best practices strategy to comply with FFIEC guidelines. Comodo TF is a component of Comodo's S.A.F.E solution, which is an integrated suite of technologies that provides a best practices approach to mutual authentication, identity assurance and protection from phishing, pharming, and man-in-the-middle attacks.

Comodo Two Factor (TF) Client Certificates - a High-Performance, Low Cost Solution with No Integration

Financial institutions are under pressure to comply with Federal Financial Institutions Examination Council (FFIEC) guidelines by year-end to evaluate and strengthen their mutual authentication processes for online banking transactions. To comply with the guidelines, financial institutions seek to employ a Multi-factor solution with ease of integration, ease of adoption by online banking customers and ease of configurability. With Comodo TF, Boiling Springs Savings Bank can support a high-performance two- factor solution while reducing operating costs. This two-factor solution offers significant advantages over other two factor solutions (such as matrix cards, tokens or image recognition solutions):

  • One of the only PKI based two factor solution - PKI is considered one of the strongest forms of authentication available for online security

  • Lowest cost solution due to an established PKI infrastructure and digital certificate lifecycle management processes

  • Virtually the easiest multi-layer solution for members to adopt because there is no change in members' online banking behavior once a DigitalID has been created. Members conveniently continue to use their existing usernames and passwords.

  • High level of flexibility and configurability for the financial institution

  • A platform that will support future authentication requirements

  • Solution can be deployed in days

  • Ease of customer support

Boiling Springs Deploys A Best Practices Approach To Mutual Authentication - Comodo TF + Comodo Content Verification Certificates (CVC)

As a best practices financial institution, Boiling Springs incorporated Comodo TF within their overall mutual authentication business process. To enable this level of mutual authentication, Boiling Springs is deploying two synergistic technologies: Comodo TF and Comodo Content Verification Certificates (CVC). While Comodo TF enables Boiling Springs to authenticate the identity of the customer, Boiling Springs also deployed CVC's so that their customers can verify the identity of the bank. CVC's uniquely "tie" specific web content, such as the log in box and graphical images, to specific Boiling Springs URL's and/or IP addresses thus confirming the site's identity. Together, this provides a PKI based mutual authentication process that thwarts phishing attacks, renders man-in the-middle attacks ineffective and protects customers against identity theft.

"As an Open Solutions Internet Banking application customer, we felt that the Comodo TF solution offered us the best mix of strength of security, convenience for our online banking customers, and lowest Total Cost of Ownership of the options available for mutual authentication," said Ken Emerson, CTO of Boiling Springs Savings Bank. "The other advantages are ease of deployment with practically no integration and a platform that will support our authentication requirements in the future."

Comodo's S.A.F.E. Solution was developed specifically to address diverse, complex and urgent needs of financial institutions for a solution that is configurable and practical. "The FFIEC guidelines are meant to address the changing nature of online identity and trust assurance threats," said Andrew Pynes, Executive Vice President of Comodo. "FFIEC guidelines require financial institutions to implement solutions this year that provide a highly secure, non-intrusive online banking experience. Comodo can help thousands of financial institutions protect their customers and achieve compliance with the guidelines."

About Boiling Springs Savings Bank

Boiling Springs Savings Bank is a New Jersey chartered savings bank with $1.1 billion in assets as of December 31, 2005. The Bank is headquartered in Rutherford, New Jersey and has 14 branch locations in Bergen, Essex, Morris and Passaic Counties. Boiling Springs offers a full suite of loan and deposit products, including online banking, debit/ATM cards and bill pay services. For more information, visit our Web site bssbank.com or call (201) 939-5000.

About Comodo

Comodo is a leading global provider of Identity and Trust Assurance services on the Internet, with over 200,000 customers worldwide. With global offices in the US, UK, Ukraine and India, the company offers businesses and consumers the intelligent security, authentication and assurance services necessary to ensure trust in online transactions.

As a leading Certification Authority, and in combination with the Digital Trust Lab (DTL), Comodo helps enterprises address digital E-Commerce and infrastructure needs with reliable, third generation solutions that improve customer relationships, enhance customer trust and create efficiencies across digital E-Commerce operations. Comodo's solutions include SSL Certificate , Multi factor Authentication solutions, PCI compliancy services, Web Content authentication , Authentication email solutions , integrated Web hosting management solutions, infrastructure services , Desktop Security Solutions , Code signing certification , digital e-commerce white list technologies, Two Factor identity assurance and Vulnerability Management Solutions .

For more information, reporters and analysts may contact:

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

Kenneth G. Emerson
Boiling Springs Savings Bank
(201) 507-3160
Email: kemerson@bssbank.com