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Relationship Creates Cost-Effective Risk Management and Compliance Monitoring Tools for Banks in New York, New Jersey, Pennsylvania, Maryland and Delaware
MOUNTAIN VIEW, CA., – April 4, 2006 – VeriSign, Inc. (Nasdaq: VRSN), the leading provider of intelligent infrastructure services for the Internet and telecommunications networks, and Banking Infrastructure & Technology Services (BITS), the technology and telecommunications unit of Atlantic Central Banker Bank (ACBB), today announced they have reached an agreement that calls for the two to deliver security services to community banks throughout the five-state, Mid-Atlantic region.
Under terms of the agreement, VeriSign and ACBB-BITS will provide an integrated set of managed security services (MSS), including firewall management, intrusion detection/prevention management and vulnerability management to help regional and community banks protect their internal networks from unauthorized access and malicious activity. Additionally, the two companies plan to offer additional VeriSign services, including VeriSign® Global Security Consulting and the VeriSign® Identity Protection (VIP) service.
“Banks face mounting security threats and increased pressure from regulatory compliance requirements. With VeriSign’s unique combination of people, processes, technology and intelligence we help some of the largest banks in the world deal with these issues,” said Chris Babel, vice president, Managed Security Services, VeriSign. “We look forward to working with ACBB-BITS to extend our service capabilities and solutions to Community Banks in New York, New Jersey, Pennsylvania, Maryland and Delaware.”
“ACBB-BITS provides connectivity and communications services to our member banks,” said Chuck Daniels, CEO of ACBB-BITS. “We teamed with VeriSign because they are the most respected name in the industry, and we recognized the need for a customized security service that targets the specific needs of our client base. VeriSign will enable ACBB-BITS member banks to more effectively manage risk and monitor compliance at each branch location with a cost-effective security solution that is easy to integrate.”
VeriSign Global Security Consulting Services helps companies understand corporate security requirements, navigate the maze of diverse regulations and security compliance requirements, reduce risk, identify security vulnerabilities and defend against and respond to attacks.
VIP is the most comprehensive suite of identity protection and authentication services, designed to strengthen and protect consumers' digital identities. It will help manage risks to the reputations of financial services organizations, e-commerce companies and enterprises that digitally interact with consumers’ personal data.
For more information on the full suite of VeriSign Security Services, please go to: http://www.verisign.com/products-services/security-services/index.html
About VeriSign
VeriSign, Inc. (Nasdaq: VRSN), operates intelligent infrastructure services
that enable and protect billions of interactions every day across the
world’s voice and data networks. Additional news and information about
the company is available at www.verisign.com
About ACBB-BITS
Banking Infrastructure & Technology Services (BITS), the technology
and telecommunication subsidiary of Atlantic Central Bankers Bank, provides community
banks with sophisticated converged networks and advanced IP Telephony.
By leveraging the power of 500 ACBB members to negotiate lower costs,
BITS provides community banks with a single, trusted source and solution
for advanced IP voice and data communications. With offices in Newark,
New Jersey, and Camp Hill, Pennsylvania, BITS serves community banks
throughout New Jersey, New York, Pennsylvania, Maryland and Delaware.
Information about BITS can be found at http://www.acbb-bits.com.
About Atlantic Central Bankers Bank
The mission of Atlantic Central Bankers Bank (ACBB) is to assist community
banks in competing more effectively through enhanced credit and noncredit
services while leveraging its aggregation capabilities. Originally chartered
in 1983 as Pennsylvania Independent Bank, ACBB was formed from the initial
capital provided by 73 community bank shareholders. The name was later
changed in 1992 to more accurately reflect their marketplace and those
of the shareholders in Pennsylvania, Delaware, Maryland, New Jersey,
and New York. Headquartered in Camp Hill, ACBB is a Pennsylvania state-chartered,
Federal Reserve member bank serving over 300 shareholder banks in addition
to many non-shareholder banks. Information about ACBB can be found at http://www.atlanticcentral.com.
For more information, contact:
VeriSign Media Relations: Brendan P. Lewis, brlewis@verisign.com,
650-426-4470
VeriSign Investor Relations: Tom McCallum, tmccallum@verisign.com,
650-426-3744
ACBB- BITS: Roger Cawley, 717-441- 4730
Statements in this announcement other than historical data and information constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements involve risks and uncertainties that could cause VeriSign's actual results to differ materially from those stated or implied by such forward-looking statements. The potential risks and uncertainties include, among others, the uncertainty of future revenue and profitability and potential fluctuations in quarterly operating results due to such factors as the risk that VeriSign's announced strategic relationships, including the relationship with ACBB-BITS, may not result in additional products, services, customers, profits or revenues; and increased competition and pricing pressures. More information about potential factors that could affect the company's business and financial results is included in VeriSign's filings with the Securities and Exchange Commission, including in the company's Annual Report on Form 10-K for the year ended December 31, 2005 and quarterly reports on Form 10-Q. VeriSign undertakes no obligation to update any of the forward-looking statements after the date of this press release.
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