Press Releases

ID Vault 4.0 From White Sky Delivers First End-to-End Consumer Online Identity Theft Prevention Solution With Two Factor Authentication

Powerful, Consumer Friendly Software Security Solution Allows Financial Institutions, Membership Organizations, PC OEMs and Others to Protect Consumer Online Transactions

SAN MATEO, Calif., January 21, 2009 – Marking a shift in its corporate strategy, White Sky, Inc., formerly Guard ID Systems, Inc., today unveiled ID Vault 4.0, a software-only version of the company’s award-winning online identity theft prevention subscription service that banks, credit unions, credit card issuers, brokerages, PC OEMs and other organizations can offer to safeguard their customers’ online identities when they bank, invest, shop, and conduct other sensitive transactions online.

ID Vault’s enterprise-class security and ease-of-use features overcome the concerns that have made consumers reluctant to conduct online financial transactions, offering enterprises an attractive solution to increase use of their Web sites, lower transaction costs and boost customer loyalty while reducing fraud and support costs, all with no change to their IT infrastructures.

According to eMarketer’s report, “Online Security: Counting the Cost of Fear,” U.S. Internet users are avoiding online banking and spending less money online because of their fear of online fraud. In addition, a survey conducted by the Opinion Research Corp. concluded that identity protection is the number one security concern among Americans, more important than terrorism.

“The economic downturn has made consumers uneasy about financial matters and more reluctant to expose themselves to potential online identity theft and fraud. In response, many financial institutions and other enterprises are searching for solutions offering greater security while delivering consumers an easy to use, convenient application,” said David Watkins, chief executive officer of White Sky. “To address these concerns, we’ve refocused our marketing and reengineered ID Vault, our flagship identity theft solution, as an easily deployed software-only subscription solution, giving these organizations an attractive way to differentiate themselves and gain a competitive advantage by building consumer confidence and encouraging online transactions.”

White Sky also announced today that ID Vault 4.0 will come pre-loaded on select Lenovo IdeaPad® notebook computers. (Editors: Please see separate announcement.)

Reduced Exposure to Online Fraud
ID Vault reduces consumers’ and financial institutions’ exposure to online fraud by ensuring that browser connections are made only to legitimate Web sites, and that consumers’ usernames and passwords are out of reach of hackers and malware. ID Vault 4.0 utilizes White Sky’s proprietary ID Vault Trusted Network, which continually monitors a “white list” of trusted financial and e-commerce Web sites to protect consumers against fraud. In addition, the unique ID Vault Secure View™ private browser provides protection against malicious plug-ins and other Web browser-based threats.

When consumers visit any of these sites, the ID Vault Trusted Network first verifies the IP address and then automatically performs the site log-in. By preventing customers from logging in to imposter Web sites, ID Vault eliminates the threats posed by phishing, pharming and man-in-the-browser attacks, as well as malware attacks such as keystroke logging.

ID Vault stores all account user names and passwords in a secure software vault on the PC’s hard disk. This data is stored in an encrypted form, and is only accessible via a user-defined PIN, similar to a PIN used at an ATM machine. Because ID Vault automates the sign-in procedure, no keys are ever typed and no keystrokes can be logged.

Two-Factor Authentication
ID Vault is the first product to provide true enterprise-level two-factor authentication in a consumer-friendly, software-only solution. Long recognized as one of the most effective means for drastically reducing the incidence of online identity theft, two-factor authentication has been slow to be adopted for consumer use by financial institutions because of its complexity and high implementation costs. Financial institutions have seen limited consumer adoption of hardware token-based two-factor authentication schemes, as these methods were developed with enterprise use in mind. With ID Vault 4.0, White Sky has broken these cost and ease-of-use barriers, offering the first software-only product to give consumers the security of two-factor authentication.

Lower Costs, Increased Loyalty
Online transactions cost banks only a fraction of what it costs to complete a transaction in a branch, or via the phone, so many banks are seeking ways to encourage greater use of their online banking systems. ID Vault 4.0 can significantly reduce a financial institution’s overall transaction costs by giving consumers the peace of mind and convenience necessary to encourage them to try online banking, and to increase the frequency of use.

Financial institutions have also experienced increased support costs as a result of online consumers forgetting their user names and passwords. This is especially true with users who access their online accounts less frequently. By securely storing user names and passwords and automating the account log in process, ID Vault can significantly reduce these customer support calls because users don’t have to remember their user names and passwords; ID Vault remembers them for them.

As a software-only, client-side security solution, ID Vault does not require enterprises to make any changes to their existing IT infrastructures. ID Vault 4.0 can be offered to account holders at little up-front cost to the financial institution, and represents a potentially high-margin revenue source that can increase customer loyalty by making consumers feel safer when conducting transactions online.

Availability and Pricing
ID Vault 4.0 is available now for $49.95 for one full year of protection. Please contact White Sky for information on enterprise pricing and for branding, customization, and deployment options. ID Vault is also available direct to consumers as a software download at the ID Vault Web site, www.idvault.com. ID Vault 4.0 works on both the Windows® XP and Windows Vista™ operating systems, and requires Internet Explorer version 6.0 or higher.

About White Sky Inc.
White Sky, Inc., headquartered in San Mateo, CA, develops and markets ID Vault, the first Internet security solution that prevents online identity theft and fraud with enterprise-level two-factor authentication in an easy-to-use consumer solution. Ideal for anyone who banks, shops and invests online, ID Vault is available for download at www.idvault.com. Visit www.idvault.com for more information.
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ID Vault® is a registered trademark and ID Vault Secure View™ is a trademark of White Sky, Inc.

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Press Contact

Lori Evans, Evans Public Relations for White Sky, Inc.
(650) 200-5891