AP Technology Forms Strategic Alliance with Cronto Limited to Secure the Future of Online Payments

Business Wire, August 29, 2007

Bringing Cronto User Authentication and Transaction Verification Capabilities to the Keystone Authentication([TM] )Engine

CARLSBAD, Calif. & CAMBRIDGE, UK -- AP Technology, a leading provider of secure banking solutions, has announced it has formed an exclusive strategic partnership with Cronto Limited, a provider of innovative secure authentication solutions, to integrate Cronto's Visual Signing technology for strong user authentication and transaction verification into AP Technology's Keystone Authentication engine.

Keystone Authentication is an extensible, multi-factor solution for Website Mutual Authentication, ATM Network Validation, and Email Validation. With Keystone Authentication, images are used to create one-time passwords (OTP) that provide a simple, intuitive method for authenticating bank communication channels. Keystone Authentication provides token-equivalent security for a fraction of the cost for deployment and maintenance. The solution offers secure access and network validation from any computer or IP-networked ATM around the world, using a simple decoding device that can be conveniently stored in a mobile phone, PDA, or wallet.

The integration of Cronto Visual Signing solution with the Keystone Authentication engine enables a level of security beyond one-time passwords for website authentication and payment transactions. Cronto's technology allows all important actions, such as authentication to online services or payment/beneficiary authorization, to be signed off by the users in an extremely intuitive and reliable way. This approach eliminates any scope for phishing, identity theft, spyware and increasingly common man-in-the-middle and trojan attacks. The combination of Keystone Authentication with its on-the-fly scalability and Cronto Visual Signing mechanism offers a solution in a class of its own, with website authentication, transaction verification, and network validation capabilities built into a single engine.

Cronto user and transaction authentication is provided using a visual code displayed on the web site. The code is unique to the transaction requested and can be read by the end user with a number of different client options, including a standalone desktop application, a camera phone-based reader and a dedicated hardware token. The client displays the transaction details for the user to verify and a one-time authorization code generated specifically for the displayed transaction to enter back into the browser. The visual code can only be decoded if generated by a genuine provider, and the correct response for the current transaction can only be produced by the genuine user client, thus providing strong, mutual transaction authentication.

"We are excited to align ourselves strategically with AP Technology," said Igor Drokov, CEO of Cronto. "The relationship opens new channels to Cronto Limited, and allows us to enhance our innovative secure user authentication and transaction verification solution and expand our growing userbase."

"We are extremely pleased to partner with Cronto Limited to add secure-transaction functionality to the scalable architecture of Keystone Authentication. Growing concerns over online identity fraud and phishing have led many financial institutions to step beyond basic compliance requirements to implement best practices such as transaction verification that add high security to online transactions and build consumer confidence in the online environment. Cronto Visual Signing technology marries perfectly with the standard OTP Keystone Images to provide an easy-to-use, cost-effective secure transaction solution that is scalable to meet even the strongest security environments where traditionally expensive, difficult-to-use tokens have been the only alternative in the past," states Richard Love, Chief Executive Officer, AP Technology.

About AP Technology

Headquartered in Carlsbad, CA, AP Technology is a leading provider of Secure Banking Solutions that are securing the online environment by providing the vital components of Authentication Validation and Automation. AP Technology solutions enhance the connection between banks and their clients by automating secure online access, transactions, and data exchange. These solutions include Keystone Authentication, APSecure file transfer server application, Transporter file transfer client application, and SecurePay, the nation's top-selling positive pay file conversion application. AP Technology has partnerships with 9 of the 10 leading U.S. commercial banks. For more information on the company's Secure Banking Solutions, visit www.aptechnology.com.

About Cronto Limited

Cronto Limited was established to provide a revolutionary new response to the ever increasing problem of online fraud. The company combines leading-edge engineering research pioneered at the University of Cambridge (UK) with business and technology expertise to deliver a unique, patent-pending visual signing solution for strong user authentication and transaction verification. For further information, please visit www.cronto.com.