(EMAILWIRE.COM, October 23, 2008 ) Hong Kong - ValidSoft and Serisys Solutions (“Serisys”) have partnered to offer financial institutions in China, the highest level of integrated authentication security through VALid®, the industry leading, real time, out of band, multi-factor authentication solution.

Serisys will promote and distribute VALid® throughout China, offering a multi-lingual solution and local support in order to address the sophisticated threats to transaction and event security that are becoming an increasingly high priority today.

Explaining the growing cost of fraud, Tim Marsh, chairman of Serisys said: “Banks expend a lot of effort containing losses on card fraud at an average cost of three per cent of every transaction. They are looking for a simple, unobtrusive and accurate authentication solution that will radically reduce the rate of fraud, the cost and the high level of obtrusiveness currently involved in checking transactions – the advanced VALid® solution now enables banks to achieve these objectives.”

VALid® is a multi-factor, multi-channel authentication and transaction verification solution designed by ValidSoft to suit mass-scale deployment. It enables users of mobile and fixed line phones and other wireless devices to access secure services over the Web or via other networks, without having to carry a separate physical security token or device, or undertake any modifications to their phones. VALid® is suitable for Web Access (including Internet Banking), Telephone Banking, Mobile Banking, Call Centre authentication, Card Present Fraud Prevention, Extranet and VPN authentication.

Based on real time, out of band, conversational authentication, VALid® is not only capable of providing protection against more traditional attacks, but also against the latest threats such as in-session hijacking and sophisticated emerging fraud techniques such as Man-in-the-Middle and Man-in-the-Browser attacks. VALid® achieves this high level of security through its sophisticated Transaction Integrity Verification model (TIV) backed by a series of Mutual Authentication capabilities.

About ValidSoft
ValidSoft is an Irish software development company with offices in all major financial centres. A thought leader in multi-factor authentication, the company has recently implemented its flagship product VALid® for several clients in the Asia Pacific region. ValidSoft’s solutions provide a significant competitive advantage for Internet application access, card fraud prevention, Extranet and VPN usage, or in any situation where privacy, confidentiality, authentication and transaction integrity are key requirements. For further information, visit www.validsoft.com or email us at Valid.Sales@validsoft.com.

About Serisys Solutions
Serisys provides IT services and world class IT solutions to the capital markets and banking industries in the Asia Pacific region. Services include Application Service Provision (ASP), application implementation and application support. Serisys is headquartered in Hong Kong with offices in Singapore and Tokyo. For further information, visit www.serisys.com.


Issued on behalf of Serisys Solutions Ltd
by EBA Communications
For more information, please contact:
Mark Leeper (EBA): (852) 2537 8022
(email: mark.leeper@ebacomms.com)

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