|Date: 9/12/2005 5:30:00 AM||Contact: (see list below)|
Corillian is first online financial services company in U.S. to meet the standard’s strict requirements
PORTLAND, Ore. - Sept. 12, 2005 - Corillian Corp. (NASDAQ: CORI), the top provider of online banking and anti-fraud solutions to leading financial institutions, today announced it has received certification under security standard BS:7799, the most widely-recognized framework and standard for developing and certifying a company’s security management system. Corillian is the first U.S. online banking company to receive this certification and one of only 23 U.S. business organizations to be certified under the standard. This certification covers Corillian’s entire business operating environment.
BS:7799 defines a comprehensive set of security controls that represent best practices in designing, deploying and managing an information security program. The security standard covers 10 control areas:
These control areas encompass more than 120 individual controls, which cover all of Corillian’s internal operations as well as work related to the implementation and hosting of its Internet banking systems.
"We are extremely pleased to be the first online banking company to receive BS:7799 certification," said Jim Maloney, chief security executive of Corillian. "Corillian makes security a top priority with respect to protecting our customers’ data and their end-users’ personal information against all forms of Internet threats. By certifying Corillian against this standard, we are able to demonstrate to our customers and the industry that we have a comprehensive and effective security program, built on industry best practices. We look forward to continually enhancing our security program and maintaining a leadership position in this critical aspect of our business."
Customer confidence gained from certification under BS:7799 is key in light of the continued rise of Internet security breaches. According to a June 2005 Gartner report1 by Avivah Litan, more than 28 percent of the 5,000 online U.S. consumers surveyed say that online attacks have influenced their online banking activity; more than three-quarters of this group note that they log in less frequently, nearly 14 percent of them report that they have stopped paying bills via online banking.
About Corillian Corporation Corillian is the market leader of online banking, bill payment and fraud prevention applications to leading financial institutions. With eight of the top 10 U.S. banks and 20 of the top 100 credit unions as customers, Corillian serves over 25 percent of the online banking community. Corillian's fraud prevention solutions use Preemptive Forensics™ to protect web sites from phishers, hackers, and fraudsters. Corillian's strong authentication solution provides a low-cost solution for multi-factor authentication while maintaining high user satisfaction. Corillian provides the most flexible, scalable and secure set of online banking applications across multiple lines of business, integrating best-practice functionality developed for some of the most innovative financial institutions in the world. Corillian features integrated applications across Consumer Banking, Small Business Banking, Wealth Management, Credit Card Management, and Corporate Cash Management, as well as enterprise wide solutions, including Fraud Detection, Payments Warehouse, Alerts, eStatements, and OFX. Empowered by Corillian solutions, some of the world’s most visionary financial institutions provide their customers with the tools to manage their finances more effectively and securely. For more information about Corillian Corporation, visit the company’s Web site at http://www.corillian.com.
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1 Gartner Research "Increased Phishing and Online Attacks Cause Dip in Consumer Confidence," Avivah Litan, June 22, 2005.
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