Press Release - April  2008

Dublin, Ireland and Lausanne, Switzerland, 1st April 2008 – Complete Telecom, the managed network and telecoms services provider, and Cidway, the Swiss technology group, have announced the Irish introduction of Cidway’s mobile phone authentication product range, including those targeting card fraud. Sales in excess of EUR500k are forecast for 2008. The Irish Payment Services Association estimates that card fraud alone – ranging from ATM cards to credit and debit cards – costs Irish banks, retailers and customers more than EUR12m per annum.

Cidway has developed a wide range of ground-breaking technologies for mobile phones that make transactions like ATM withdrawals and online banking much more secure. These technologies will greatly reduce the risk of fraud for Irish banks and businesses.

Cidway’s products are already being deployed by banks across Europe and the Americas as they seek to counteract rising security risks for customers such as skimming (copying card information during a normal transaction), shoulder surfing (looking over someone’s shoulder as they enter their PIN) and phishing (fake emails and websites designed to gain customers’ account details). By using unique one time PINs or passwords, enabled over mobile phone based applications, customers can be sure that even if their one time PIN or password becomes known, it will have changed before a fraudster can use it.

Acoustic encryption can even allow telephone banking systems to authenticate users with a short burst of highly encrypted data over the normal telephone call, thereby eliminating the need for long strings of PINs, passcodes and access numbers to be entered.

Kevin Murphy, managing director, Complete Telecom, said “Research we’ve undertaken shows that there is already a strong demand for Cidway’s range of products in Ireland from banks and other businesses that need to guarantee customer security. As customers become more aware of the risks they face, they also become more aware of the security solutions available. Cidway’s products are an excellent way to ensure the best balance between security and usability for all involved.

Kevin Roberts, general manager – authentication business unit, Cidway, said “Irish people are always at the cutting edge of modern technology, and we know that Irish companies will see the benefits of the higher level of security we can offer for authentication transactions. Complete Telecom’s knowledge of telecoms and managed networks means they can integrate Cidway systems right at the heart of existing or new operations for our customers.

About Complete Telecom
Complete Telecom combines its all-fibre next generation metropolitan network with highly secure LAN solutions and professional services to offer the optimum managed services with SLAs customised to individual customer needs. Complete Telecom offers Managed Services to Corporate clients, Government and Carriers, these services include; secure and available network infrastructure solutions, converged network, Metro and WAN Bandwidth solutions. All of these services are supported with our comprehensive SLAs and Complete Care contracts. Since its formation in 2001, Complete Telecom has grown to become a leading force in the market, with revenues in excess of €10 million in the last financial year and profit in every year since inception. This has been achieved through careful cost control and controlled rapid growth. For more, see www.complete.ie

About Cidway
Cidway is a global technology group headquartered in Switzerland that offers a unique and distinctive portfolio of integrated security solutions. Driven by the constant technological evolution of our world, Cidway is committed to ensure our society’s daily interactions by resolving authentication and security issues. With over ten years of intensive development and innovations in authentication and digital signature, Cidway is shaping the future in authentication, mobile payment and homeland security. For more, see www.cidway.com

Press Contact
Keith Martin
Comit
t: +353 1 215 7675
e: kmartin@comitmarketing.com
w: www.comitmarketing.com