Business Services Industry
Nevada Federal Credit Union Partners with Corillian for Strong Online Authentication to Protect Members from Online Fraud; Corillian Intelligent Authentication to Integrate with Nevada FCU's In-House Online Banking System
Business Wire, August 15, 2006
PORTLAND, Ore. -- Corillian Corp. (Nasdaq:CORI), the top provider of online banking, payment and security solutions to the financial services industry, today announced that Nevada Federal Credit Union, an $850 million credit union headquartered in Las Vegas, Nev., selected Corillian as its partner to deliver stronger online authentication to Nevada FCU's online banking service. Nevada FCU will leverage Corillian Intelligent Authentication(TM) to implement additional layers of authentication and protection when members are performing online transactions and to help Nevada FCU comply with the recent FFIEC guidelines for online authentication.
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Corillian Intelligent Authentication will integrate to Nevada FCU's existing in-house online banking system and the partnership will enhance Nevada FCU's overall fraud prevention strategy and give its members peace of mind when conducting online financial transactions. Nevada FCU selected Corillian Intelligent Authentication for its innovative approach to authentication and proactive security, flexibility of the solution and Corillian's track record in online banking and security.
"With the FFIEC guidelines on the horizon, we knew we needed a solution in place that would help us meet the guidelines, but not disrupt the online experience for our members," said George Lund, AVP, business continuity and project management services at Nevada FCU. "We looked at many different solutions and Corillian Intelligent Authentication provided us with the most flexibility in not only the installation, but more importantly, in how we want to launch this new service to our members. It also had strong recommendations from other institutions like ours and Corillian has a strong reputation in delivering secure and innovative online services to the credit union industry, which was a key factor. We are excited to work with Corillian and deliver this new service to our members."
Intelligent Authentication is a non-intrusive, highly effective method of multi-layered authentication that helps financial institutions comply with the recent FFIEC guidelines for stronger authentication. In addition to a user name and password, Intelligent Authentication collects and examines multiple patterns of online banking to determine when it is necessary to block or challenge suspicious visitors. This multi-layered authentication model is transparent to the end user and provides a user-friendly experience, while ensuring visitors to a Web site are legitimate before allowing users access to their online accounts.
"As financial institutions are looking for strong online authentication solutions to help meet the FFIEC guidelines, many are realizing the benefits of Corillian Intelligent Authentication to not only meet the guidelines, but create a unique, secure online experience for their end users," said Alex Hart, president and CEO of Corillian. "Corillian Intelligent Authentication's innovative approach to behind-the-scenes, multi-layered authentication will provide Nevada FCU with a strong layer of authentication to help protect fraudulent online access, but will also provide its members with a seamless online experience, delivering added confidence and loyalty to their members."
About Nevada Federal Credit Union
With over 80,000 members and assets of more than $850 million, Nevada Federal is the largest credit union in the state of Nevada with approximately 20 locations in the greater Las Vegas area, Pahrump and Reno. The Credit Union is a not-for-profit cooperative, owned by its member depositors, and led by an unpaid volunteer Board of Directors who are elected by and from the membership. The Credit Union was formed solely for the benefit of its member-owners for the purpose of providing the very best service, rates, and products. For more information, visit www.nevadafederal.org.
About Corillian Corporation
Corillian is the market leader of online banking, payment and security solutions to the financial services industry. Corillian's fraud prevention solutions use Preemptive Forensics(TM) to protect web sites from phishers, hackers, and fraudsters. Corillian's strong authentication solution provides a low-cost solution for multi-factor authentication while maintaining high user satisfaction. With 29 of the top 100 U.S. banks and 21 of the top 100 U.S. credit unions as customers, Corillian serves over 30 million online banking users. Corillian provides the most flexible, scalable and secure set of online banking applications across multiple lines of business, integrating best-practice functionality developed for some of the most innovative financial institutions in the world. Corillian features integrated applications across Consumer Banking, Small Business Banking, Wealth Management, Credit Card Management, and Corporate Cash Management, as well as enterprise wide solutions, including Fraud Detection, Payments Warehouse, Alerts, eStatements, and OFX. Empowered by Corillian solutions, some of the world's most visionary financial institutions provide their customers with the tools to manage their finances more effectively and securely. For more information about Corillian Corporation, visit the company's Web site at http://www.corillian.com.
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