The Golden 1 Credit Union Deploys Arcot Multi-Factor Authentication to Enhance Online Banking Security
New Solution Adds Security, Confidence to Credit Union Members Online Banking Experience; Provides Compliance with FFIEC Regulations
Sunnyvale, California -- June 25, 2007 — Arcot Systems, Inc., the leading provider of multifactor authentication, risk management and digital signature solutions, today announced that The Golden 1 Credit Union has implemented Arcot's multifactor authentication solution to further protect its members from online banking fraud. The Golden 1 Credit Union is California's leading financial cooperative and the sixth largest credit union in the U.S., with $6 billion in assets and more than 600,000 members. It has consistently received a superior rating by IDC Financial Publishing, Inc. and a five-star rating from Bauer Financial Reports, Inc.
The Golden 1 Credit Union is a membership financial cooperative owned by its members. It is committed to safeguarding its members from identity theft and online fraud. With the increase in online threats in the U.S. that target online banking users, The Golden 1 was looking for a strong multifactor authentication solution that would further reduce the risk of online fraud to its members. The Golden 1 wanted a secure, easy-to-use and innovative technology to fortify its online protection for its members, and to comply with the new NCUA (National Credit Union Administration) guidance on authentication in an internet banking environment. Also, in keeping with its tradition of deploying future-ready technology, The Golden 1 also wanted to chose a solution that would provide the framework for future customer services like digital signing of documents.
After a rigorous evaluation of multiple authentication vendors, The Golden 1 selected Arcot's multifactor authentication solution. Arcot offers authentication risk management, strong authentication and digital signing capabilities completely in software. Arcot's approach provides unmatched security without changing the users' sign on experience.
"The Golden 1 selected Arcot's cost-effective, software-based authentication solution for its strong, multi-layered transactional security. Arcot's proven technology is able to provide our members with a seamless, user-friendly experience," stated Lisa Swanson, Vice President, E-Commerce for The Golden 1.
"With the rising threat of internet attacks, Arcot recognizes the need to provide our clients with a safe, future-ready authentication solution that will support the rapidly increasing use of online banking applications. The Golden 1 is dedicated to using state-of-the-art solutions to protect its members from online fraud," stated Carol Stone Alexander, VP of Marketing for Arcot. "With our multifactor authentication solution, The Golden 1 will have the ability to reduce the risk of online fraudulent access and improve member satisfaction, while providing the most secure online fraud protection available on the market today."
About The Golden 1 Credit Union
The Golden 1 Credit Union is California's leading financial cooperative and the sixth largest credit union in the U.S. with $6 billion in assets and more than 600,000 members. The credit union has 74 offices, more than 270 ATMs and more than 2,500 cooperative ATMs statewide. For more information, visit www.golden1.com.
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