Identrica to Revolutionise Identity Security

IT specialists Identrica and Prime Business Solutions have developed a solution to ‘Phishing’, an online identity theft scam that is proving a real headache for banks and financial institutions. ‘Phishing’ fraudsters send e-mails to customers, registered for online banking services, which purport to be from the bank itself. Customers are directed to spoof websites, where they are invited to ‘log on’, thereby revealing their online security codes and bank account details. The problem of identity theft is so serious that some banks have had to suspend direct payment or standing order facilities from their online services.

Identrica Managing Director, John Brand said:

"Our innovative authentication system denies access to an internet banking website, unless a call is received from the customer’s mobile phone. It is therefore of less concern that user names and passwords have been compromised, because the fraudster needs to have access to an individual’s phone – a patent impossibility. Prime Business Solutions will wrap this technology into their own IT infrastructure offering to blue chip banking and retailing clients throughout Europe."

This approach is based around an individual’s unique 11-digit mobile phone number, which Identrica turns into a ‘social token’. This means that as part of the logging-on procedure for a bank website, for example, the user is asked to make a call from their mobile phone to a secure Identrica number. The call is not answered (therefore it does not cost anything) and the user merely hangs up when they hear the ring tone. They then enter their unique PIN number into the logging-on screen and proceed to use the online service as normal. This is called 2-factor authentication, because the user must offer their PIN and be in possession of their own mobile phone, before accessing the banking or e-tailing system.

Identrica’s technology is significantly cheaper and equally effective as existing solutions, making it commercially viable for high-volume applications such as Internet banking. The same technology can be used to bolster the security of almost any password-protected network or application.

Chris Gabriel, Security Business Director at Prime said:

"The mobile phone is now pretty well ubiquitous and it uniquely identifies us through our 11-digit phone number. In marrying banks’ and retailers’ security systems with a simple, no-cost call from a mobile phone, 2-factor authentication becomes a commercial reality, throwing aside the cost, complexity and confusion of existing hardware based solutions. The technology is also readily installed and incorporated into existing online security systems.

"Prime is very pleased to be partnering with Identrica to take this technology to the UK market and vastly improve the security of critical commercial applications. The finance and banking community are eager to increase consumer confidence in online banking and the simplicity and cost effectiveness of Identrica coupled with the public’s demand for increased security is encouraging"

Both companies are already in discussion with a number of international banking clients.

ENDS

Date: 7th March 2005

Contact:
John Brand, Identrica. Email: johnb@identrica.com Tel: 0131 446 0992
Lorraine Fry, Prime Business Solutions. Email: l.fry@prime-uk.com Tel: 01635 265818

Beverley Kirk, Great Circle Communications. Email: bev.kirk@greatcircle.co.uk Tel: 0131 2254646 Mob: 07968 777097

NOTES TO EDITORS
About Identrica
The Identrica Authentication System turns a standard mobile phone into a "token" to replace smartcards, USB tokens or "authenticators". This provides strong, two-factor authentication – so that a user has to show that he or she not only knows a password, but also physically possesses something unique to them. Identrica authentication can be provided either as a fully managed service or as a "stand-alone" application.

Identrica Limited has been providing IT security software and consultancy since 1996. Since 2000 the company has concentrated on user authentication, developing the X Identity USB token in 2001 and the technology behind the mobile phone based Identrica system in 2003.
The company’s headquarters are in Edinburgh and its development office is in Olney, Buckinghamshire.
www.identrica.com

About Prime Business Solutions
Prime is a focused ICT infrastructure solutions provider. Part of the 2e2 Group, a balanced portfolio of IT Service companies, based in the UK and Netherlands, we provide innovative solutions for the secure transportation and delivery of information and communications in offices, across campuses, locally, regionally and internationally. These solutions increase stakeholder value, improve customer service and enhance competitive advantage by improving business efficiency and agility whilst reducing cost.
We wrap our solutions with in-house delivered life cycle services from consultancy and design through to installation, support and managed services.
As UK market leaders in IP Telephony, IP Contact Centre and IP Video, Prime has a track record of de-risking the implementation of leading edge technologies and is recognised at the highest level by leading global IT vendors.
Prime has been formally recognised as one of the fastest growing companies in the UK. Coupled with this, the business runs an extremely healthy balance sheet and we retain a significant profit, unlike many of our major competitors.
Prime maintains regional offices in London, Birmingham and Edinburgh. Coupled with our Newbury HQ, we deliver solutions throughout the UK and worldwide through our global partner network.