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VASCO Transforms the eSecurity Landscape by Launching DIGIPASS as a Service (DaaS)(TM) Authentication Service Offering
- DIGIPASS as a Service (DaaS) (TM) offers on demand identity and transaction security; VASCO expands its offering to Application Service Providers (ASP) and SaaS vendors
- Multiple business and enduser applications to be secured with one DIGIPASS
- Lower Total Cost of Ownership brings Strong Authentication into the reach of any online application
VASCO Data Security Inc. (Nasdaq: VDSI; www.vasco.com), a leading software security company specializing in authentication products, today announced its DIGIPASS as a Service (DaaS) authentication model. DIGIPASS as a Service (DaaS) is the newest service solution added to VASCO's existing endtoend authentication product suite. DIGIPASS as a Service (DaaS) goes beyond simple Authentication as a Service with a complete platform that incorporates the user, the enterprise and ecommerce. As such, DIGIPASS as a Service offers on demand identity and transaction security.
Up to 2005, VASCO's was primarily a hardware authentication vendor to the financial world. As this business grew, the company's gross margin was under pressure.
In 2006, VASCO launched its Full Option, All-Terrain authentication strategy, resulting into its endtoend business model. VASCO added the enterprise security market and indirect channel to its scope, as well as expanded its reach into key consumer applications like electronic gaming. In the product field, VASCO strengthened its server offerings and developed its software DIGIPASS product line. Those combined efforts resulted in a healthy business mix and bottom line.
Today, the company is expanding its offering based on the needs of the growing online application market. Many service providers are challenged with the costs associated with adding strong authentication. In addition, some providers have barriers to implement customer security due to a low frequency of user, nominal transaction values, or lack of resources required to distribute hardware and/or software to the end user. DaaS will be offered to bring VASCO authentication to such customers.
DIGIPASS as a Service is offered to allow customers to secure a multitude of enterprise and enduser applications with one DIGIPASS. Today, companies are securing access to their webmail, network, ERP, and CRM systems with one DIGIPASS. The DaaS authentication service is building on this existing model and providing a platform where consumers can access their online bank, buy tickets over the Internet, play games, and access his/her social network account with one DIGIPASS.
For end users, password management is often a nightmare. They have different passwords for their bank, their social network account, their credit cards, and their webmail. VASCO's goal is to enable a user to have access to countless applications with only one DIGIPASS. With DaaS, VASCO makes this possible.
For application owners and companies, the benefits of VASCO's DaaS are obvious:
- Lower Total Cost of Ownership
- Ease of distribution and fulfillment
- Shared back office costs
- Time to Market
- Protection against lost revenue due to account sharing
In addition, DIGIPASS as a Service (DaaS) provides an opportunity for:
- Additional Services to end users
- Potential source of revenue
- Cross Marketing with leading global providers
"The launch of VASCO's DIGIPASS Authentication Services (DaaS) offering is a major step in the company's evolution," said Jan Valcke, VASCO's President & COO. "We believe that the combination of VASCO's DaaS with our existing endtoend authentication solutions is bringing any existing online application into the reach of VASCO's market leading DIGIPASS authentication."
"Currently, a high number of online applications and their users aren't able to benefit from enhanced security such as strong authentication," Valcke stated. "Possible barriers are a low frequency of use of the application or the relatively low monetary value of the account. Nevertheless, these applications can also have a high value to the end user. For VASCO, all online applications have the right to be protected with bestofbreed DIGIPASS authentication."
Forward Looking Statements:
Statements made in this news release that relate to future plans, events or performances are forwardlooking statements. Any statement containing words such as "believes," "anticipates," "plans," "expects," "intend," "mean," and similar words, is forwardlooking, and these statements involve risks and uncertainties and are based on current expectations. Consequently, actual results could differ materially from the expectations expressed in these forwardlooking statements.
Reference is made to VASCO's public filings with the U.S. Securities and Exchange Commission for further information regarding VASCO and its operations.
This document may contain trademarks of VASCO Data Security International, Inc. and its subsidiaries, including VASCO, the VASCO "V" design, DIGIPASS, VACMAN, aXsGUARD and IDENTIKEY.
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