San Francisco, CA and Toronto, Canada (PRWEB) September 16, 2009
Validus Technologies Corporation (Validus) and ValidCard Canada Corporation (ValidCard Canada) are pleased to announce that they have entered into a strategic partnership to provide access to Validus' unique product line in Canada. These authentication products are leading edge technologies that will form a front line of defence against fraud and identity theft.
Validus designs and manufactures the patented VALIDcard™, a strong authentication solution that combines OTP (One Time Password) and fingerprint biometrics within the convenience of a card form factor. When a registered user swipes their finger over the SmartFinger® technology1 embedded in the VALIDcard™ an OTP is generated and displayed on the card. Validus is underway in developing its next generation Version 3.0 that will transmit the OTP via contact and contact-less Smart Card technology making it one of the most interoperable biometric solutions in the market. Validus is also a leader in providing OTPs via SMS to any mobile phone worldwide to authenticate users attempting to gain access to various types of networks.
Identity theft is defined by the RCMP as one of the fastest growing crimes in North America. It is quick and devastating and can leave a long lasting effect on people's lives. One in four Canadians have been a victim of one sort of identity theft or another. Introducing Validus' OTP authentication product line to Canada is in direct response to this growing threat.
"We are pleased to enter into this strategic partnership with ValidCard Canada, it provides Validus with a significant reach into the Canadian marketplace to create a higher standard of security and authentication" said Travis McGregor, CEO of Validus.
Validus has incorporated into the VALIDcard™ SmartFinger® technology through their partnership with IDEX. This gives the VALIDcard™ unparalleled security that accounts for a person's everyday lifestyle. The vertical markets that this will have a significant impact on are Governments at all levels, the financial industry, corporate enterprise and insurance, to name a few. The VALIDcard™ can address these markets which have a potential volume of 10 billion cards worldwide.
"This partnership with Validus gives us the ability to provide a product that is a direct response to the identity theft and fraud industry. It will give Canadians the ability to conduct their transactions safely and securely. It also provides institutions a means to recoup losses due to identity theft and fraud" said Dwight Cole, CEO of ValidCard Canada.
This license agreement is comprised of volume based royalties for select Validus products.
About Validus Technologies Corporation
Validus is a technology development and solution provider in the area of security and authentication, with a specific focus on combating identity theft and cyber crime. Validus' flagship product, the patented VALIDcard™, is a strong biometric authentication device designed to prevent identity theft while offering a user-friendly experience. In addition Validus offers VALIDsms™ which is fast becoming the new wave of OTP authentication technology to replace non-biometric Hardware Tokens as the lowest cost OTP authentication available. For further information about Validus, please contact [email protected] or at http://www.validustech.com.
About ValidCard Canada Corporation
ValidCard Canada Corporation is a privately held Canadian company that will be marketing and distributing the Validus products to Canadians. We are positioned as a direct response to the fraud and identity theft industry and will be providing solutions to Governments, financial institutions and other vertical markets. For further information about ValidCard Canada, please contact us at [email protected] or at http://www.validcardcanada.com.
Safe Harbour Statement
Statements in this news release that relate to future plans, financial results, projections and events of performance are forward-looking statements. While these statements are made to convey to the public the parties' progress, business opportunities and growth prospects readers are cautioned that such forward looking statements represents the parties' current understanding and beliefs. Unforeseen factors may affect the parties' actual results and could cause results to differ materially from the forward-looking statements.
1 SmartFinger® technology is provided to Validus through a strategic licensing agreement with IDEX ASA. http://www.idex.no.