Nordic Expansion: Wave Secures One of the Largest Financial Institutions in the
Prominent Nordic Distributor Played Key Role in Largest-Ever Trusted
Computing Deployment in Scandinavia
LEE, MA -- (Marketwired) -- 04/22/13 -- Wave Systems (NASDAQ: WAVX),
the Trusted Computing Company, announced that a large finance and
insurance institution in the Nordics selected Wave to strengthen its
network security and, in doing so, also eliminated the need for
passwords by its users.
The financial institution has a sizeable remote workforce that
required a seamless and secure method for remote connectivity. For
its part, IT needed to minimize the risk of hacks due to credential
theft, while also avoiding the added costs of tokens or smartcards
for second-factor authentication.
Rather than using a traditional virtual private network (VPN), the
financial institution deployed Microsoft's DirectAccess, a VPN-like
technology first introduced in Windows 7. They chose Wave's
EMBASSY(R) security software to secure credentials in the Trusted
Platform Module (TPM), an industry standard security chip that
establishes machine identity.
"The biggest advantage is that IT controls which machines are allowed
network access -- the user can only access the network from a
company-authorized device," said Joseph Souren, Vice President and
General Manager for Wave Systems Corp. "This approach simplifies the
challenge of remote access to the network."
Strategic Distribution Partner Strong Advocate for Trusted Computing
As a result of the deal, Wave will continue to seek growth in the
Nordic market through its strategic partnership with Sweden-based
Inuit -- a distributor that works exclusively with selected
manufacturers in IT security and administration.
"The Scandinavian market is waking up to the capabilities and uses of
Trusted Computing technologies. Wave is the true pioneer in this
space and Inuit is proud to help Wave identify skilled reseller and
solution partners moving forward," said Thorir Eggertsson, CEO and
Founder of Inuit AB in Sweden.
About Wave Systems
Wave Systems Corp. (NASDAQ: WAVX) reduces the
complexity, cost and uncertainty of data protection by starting
inside the device. Unlike other vendors who try to secure information
by adding layers of software for security, Wave leverages the
security capabilities built directly into endpoint computing
platforms themselves. Wave has been a foremost expert on this growing
trend, leading the way with first-to-market solutions and helping
shape standards through its work as a board member for the Trusted
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Wave Systems Corp.
David Collins, Eric Lentini
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