Press Release Issued by Yodlee on June 4, 2007:
YODLEE AND GREEN ARMOR SOLUTIONS FORM STRATEGIC ALLIANCE TO STRENGTHEN ONLINE SECURITY
REDWOOD CITY, CA and HACKENSACK, NJ – June 4, 2007 – Yodlee, Inc. and Green Armor Solutions, Inc. today announced a strategic alliance that will enable Yodlee’s online banking, bill pay, and transactional services to seamlessly interoperate with Green Armor’s strong, two-factor/two-way authentication solutions.
Yodlee solutions give consumers and small businesses secure online and mobile access to personal account data from thousands of financial sources in order to deliver personalized, functionally-rich personal financial management (PFM) and bill pay applications. Yodlee-powered services are used today by nearly 8 million consumers at leading financial institution and portal sites.
“Yodlee is working with Green Armor to deliver a heightened level of online security while protecting the convenience and access of information that consumers have come to expect on the Internet,” said Joseph Polverari, senior vice president, global alliances at Yodlee. “Green Armor’s approach was appealing to us because it delivers the strength of both two-factor and site authentication without hindering the user experience. Through our own innovation and through partnerships with leading authentication providers like Green Armor, Yodlee is working to help reduce the risk of online fraud and improve customer confidence when it comes to online banking and bill pay.”
Several financial institutions have recently gone live with the Green Armor’s Identity Cues Two Factor authentication system, which both authenticates users to websites, as well as websites to users. Because it leverages a combination of psychology and technology in its core design, the Green Armor platform is more effective, simpler to implement, and far easier to use than alternative offerings. It has also proven to withstand various attacks to which other strong authentication systems have fallen victim.
“According to a recent report from the Aite Group, Green Armor’s design is ‘superior to the approach currently supported by competitors’,” said Shira Rubinoff, President of Green Armor Solutions. “With Green Armor’s Identity Cues systems, two-factor and site authentication are both achieved without forcing users to enroll, install any software, carry any devices, memorize any information, or perform extra steps during the login process. That is a huge advantage for ensuring minimum user impact while delivering maximum multi-factor and site authentication protection.”
Yodlee’s online financial solutions - including PFM, bill pay, banking, funds transfer, wealth management and risk management applications - are privately labeled and available in hosted or enterprise software editions to financial providers worldwide. Yodlee is also an established contributor to industry forums such as the Financial Services Technology Consortium, BITS, and the Liberty Alliance, working to help develop new standards for online authentication and stronger security practices.
More information about Green Armor Solutions and its Identity Cues series of products can be found on the Green Armor Solutions web site at: http://www.GreenArmor.com/.
About Green Armor Solutions Inc.
Green Armor Solutions offers innovative solutions to information-security challenges facing today's businesses. Its Identity Cues series of products (all patent-pending) leverage a unique blend of psychology and technology to help deliver maximum security with maximum user convenience. They provide strong two-factor authentication (exceeding FFIEC and NCUA guidelines) as well as effective site authentication (mutual authentication) that protects against phishing, pharming, and online fraud, while allowing users to continue to enjoy the simple, comfortable user experience with which they are already familiar. Identity Cues products can help companies address security and privacy requirements as part of compliance initiatives for FFIEC/NCUA Authentication, HIPAA, and GLBA. Green Armor’s systems help secure numerous financial environments including those at First Bank, EPIC Advisors, and hundreds of credit unions.
Leading financial institutions trust Yodlee to power critical online banking applications that increase profitability and drive more value from the online channel. Yodlee’s proven consumer banking, payments solutions, wealth management, and risk management applications unify all personal financial account information to deliver a simple, centralized and secure way for consumers to manage all of their financial tasks – any time, anywhere. Yodlee makes financial institutions’ websites essential to their customers and generates new revenue opportunities. Over 100 leading financial institutions and portals, including Ameriprise Financial, AOL, Bank of America, Fidelity, JPMorgan Chase, Merrill Lynch, and MSN, today offer Yodlee-powered solutions to millions of customers worldwide. Yodlee operates in the United States and Europe and is headquartered in Redwood City, California.
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