|By Elizabeth White||
|June 27, 2014 09:00 AM EDT||
VASCO Data Security International, Inc., announced it has sold its 200 millionth DIGIPASS authenticator. The milestone follows the company's recent announcement of record order intake in Q1 of 2014.
"Global criminal hacking organizations pose a growing threat to our banking and enterprise customers as attacks become more frequent and utilize more sophisticated methods," stated Jan Valcke, President and COO of VASCO. "Our next generation solutions are remarkably innovative with features such as intelligent decision engines and high-resolution QR codes to keep the user experience very friendly as we integrate more powerful security protections."
Authentication is a process that combats criminal hacking activities by verifying that a user is who they claim to be. It is growing in importance as the frequency and cost of data breaches increases. The 2014 Data Breach Investigation Report from Verizon identified that two out of three breaches exploited weak or stolen passwords.
VASCO provides authentication and digital signature solutions to financial institutions; more than half of the top 100 banks in the world use VASCO solutions to enhance their security. Banks are increasing their utilization of enhanced security measures to attract new customers and to meet regulatory requirements without compromising customer convenience.