SEB invests in secure e-transaction enabler, Arcot Systems
SEB invests in secure e-transaction enabler, Arcot Systems Arcot Systems, Inc., the leading provider of "software smart cards", providing secure digital identity solutions to ensure security and privacy in Internet and Enterprise transactions - announced today, that SEB has decided to make a strategic financial investment in Arcot. "SEB considers web enabled transactions as a core technology for our continued success and geographic expansion. Our challenge is achieving this without slightest compromise in the transaction security" said Carl Sundvik, President of SEB e-Invest. "Arcot's solution is interesting as it provides comparable security level as hardware tokens and smart cards, but with the added convenience of mobility provided by software-only solutions. "We are excited to have the investment from SEB, which is well known for its well developed plans and execution of e-business solutions. It is a further testimonial to the value of our business and our technology," said Elis Nemes, President, Arcot International. We anticipate a rapid and strong endorsement of our software-only approach to user authentication in Europe, where strong security is a must." About Arcot Systems Arcot Secure Digital Identities provides strong user authentication and digital signature solutions for enterprise and Internet applications. Only Arcot can provide a software-based solution with any-device, anywhere, anytime capabilities for users that demand mobility, security, and convenience. Leaders in financial services, healthcare, and e-commerce are using Arcot Secure Digital Identities to protect user privacy and reduce fraud. Arcot Secure Digital Identities has been adopted by a wide-range of companies including the Swedish Post, First Union, Bechtel, Union Pacific and Medicity. Read more about Arcot at www.arcot.com Arcot WebFort With the following characteristics, WebFort provides a compelling alternative to hardware solutions: * "Smart card" level of security in software the convenience of a software-only solution that supports both desktop and mobile users with the same user interface * Scalable to accommodate large user communities * Easily integrated into Web applications * Supports industry standards and easily integrates with leading certificate authorities * Low total cost of ownership -- a fraction of the cost of hardware token-based solutions About SEB SEB is a financial group focused on e-banking, savings and growth companies. SEB is one of the largest financial groups in Scandinavia, with SEK 942 billion in funds under management and total assets of SEK 1 108 billion (30 September 2000). The Group has approximately 20,000 employees and is represented in some 20 countries around the world. SEB has today approximately 630 retail and private banking branches, mainly in Sweden, Germany and the Baltic region and 850,000 e-banking customers in six countries. SEB started recently an online brokerage service, SEBdirect, in Germany and will start e-banking in England and in Norway this year. Read more about SEB: www.seb.net For more information, contact: In the US: Arcot Systems, Doug Free, 408/969-6243, dfree@arcot.com InterActive PR, Inc. (for Arcot Systems), Kerry Coulter, 415/703-0400 ext. 338, Kerry Coulter@ipri.com In Europe: Arcot International, Lynne Gillon, +44 (0) 1753 708818, lynne.gillon@arcot.com, Harvard Centro PR (for Arcot International), Martin Smith +44(0) 207 4946100, Marin.smith@harvard.co.uk ------------------------------------------------------------ This information was brought to you by BIT http://www.bit.se The following files are available for download: http://www.bit.se/bitonline/2001/02/02/20010202BIT00480/bit0001.doc http://www.bit.se/bitonline/2001/02/02/20010202BIT00480/bit0002.pdf