PassMark Security is the leader in strong authentication for online banking, delivering a strong mutual authentication platform practical for all segments, including the consumer market, without requiring end-users to install new software or carry anything they do not already have with them. PassMark’s comprehensive authentication platform increases adoption of online banking by restoring user confidence and reducing fraud.
The Beginning
Founded in early 2004 by a team with deep experience with online financial systems, PassMark's initial deployments began in early 2005.
The Success Team
Bill Harris, Chairman
Louie Gasparini, Chief Technology Officer
Lin Johnstone, Chief Executive Officer
Paul Bergholm, Chief Financial Officer
Steve Klebe, VP - Sales and Business Development
Mark Goines, Chief Marketing Officer
William Wright, Chief Scientist
The Products
PassMark Two Way Two Factor Authentication™
"PassMark solutions are highly suitable for the growing online consumer market where identity thefts are on the rise and a practical and simple to use strong authentication method is needed."
Rick Justice, Chief Editor
What makes PassMark Security an Info Security "Hot Company" 2006
Products & Technologies
PassMark Security developed and introduced an innovative online banking security technology that prevents phishing, key logging and man-in-the-middle attacks.
PassMark offers a complete solution for securing electronic communications with customers. It integrates: Both authentication and fraud detection. The System is designed to authenticate customers, but because it identifies and tracks the behavior of every device that accesses a site, it also provides a powerful fraud detection capability.
Innovations are: two-factor authentication without requiring the online banking user to have any new hardware or install any new software by using the customer’s own computers as authenticating tokens; two-way authentication, meaning it authenticates the site to the user as well with a PassMark — a secret image known only to the site and that customer—to give customers confidence they are at a legitimate site; and the use of “neural networks” to provide additional layers of back-end real-time transaction security.
Focused on automated Two-Factor Two-Way Authentication(TM), PassMark offers a complete front-to-back system that exceeds FFIEC guidelines with its real-time risk-based analytics, layered security, shared fraud data network, multi-model decision engine, and automated supplemental authentication.
People & Investors
The company is led by Lin Johnstone who was recently appointed as Chief Executive Officer. Bill Harris founded PassMark Security along with industry associates with deep experience in the payments and security industry and is the Chairman.
PassMark Security, Inc. is funded by private investors and leading venture capital firms, including Diamondhead Ventures and Menlo Ventures.
Performance & Growths
Before the end of Q1 2006 approximately 20 million internet banking customers will be using the PassMark System.
Branded SiteKey by Bank of America.
With customers like Bank of America, Scottrade, Certegy and Tech CU, PassMark Security is the leading online banking authentication provider today, and will have over 20 million consumers using PassMark by Q1 2006.
Potential & Strategies
With hacking and attacks becoming more sophisticated and criminal in nature, for online authentication to meet rising security standards and be practical for the consumer market, it must authenticate the user to the site with strong two-factor authentication and authenticate the site to the user (two-way authentication) with as little modification to the user experience as possible.
PassMark Security
4400 Bohannon Drive, Suite 100
Menlo Park, CA 94025, USA
Tel: (650) 324-7800
Fax: (650) 322-6938
www.passmarksecurity.com
