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Major US Bank Standardizes on SecurID Authentication for Enhanced Network Security

Strategic Insights

— 2 min read

First Union Corporation, the sixth largest bank holding company in the US, has standardized on SecurID authentication technology to protect its critical network resources. The bank has agreed to deploy 22,000 additional SecurID tokens to its employees over the next two years, building on the existing widespread deployment of SecurID to over 20,000 bank employees. This move is aimed at providing investment and infrastructure protection for the bank through Security Dynamics' Keon product family. With this agreement, First Union has formally endorsed SecurID as its standard authentication technology, citing its security, ease of use, and wide support by third-party partners.

Key Takeaways:

  • First Union Corporation, the sixth largest bank holding company in the US, has standardized on SecurID authentication technology to protect its critical network resources.
  • The bank has agreed to deploy 22,000 additional SecurID tokens to its employees over the next two years.
  • SecurID was already the system of choice within First Union, with over 20,000 bank employees using it to control access to various applications.
  • First Union will be a beta test site for Security Dynamics' recently announced Keon family of PKI products, specifically Keon V5, which is designed to fully support the SecurID technology.
  • The bank has cited Security Dynamics' commitment to embracing emerging digital certificate and electronic commerce standards as a key factor in their decision.
  • First Union has a wide range of authentication devices, including SecurID hardware tokens, key fobs, smart cards, software tokens, and a software application that runs on the Palm Pilot computing platform.
  • More than 4,000 companies have adopted SecurID technology for protecting vital corporate data, and over 4.5 million individuals worldwide use SecurID authenticators in various forms.
  • First Union Corporation is headquartered in Charlotte, North Carolina, with assets exceeding $232 billion as of March 31, 1999.

Statistics:

  • 22,000 additional SecurID tokens will be deployed to First Union employees over the next two years.
  • First Union Corporation has a total of over 42,000 employees using SecurID technology.
  • More than 4,000 companies have adopted SecurID technology.
  • Over 4.5 million individuals worldwide use SecurID authenticators in various forms.
  • Security Dynamics has over 4.5 million users of its SecurID authentication technology.

Sources:

  • "First Union Corporation Chooses Security Dynamics' SecurID(R) Authentication Solution for Network Security" PRNewswire June 7, 1999
  • First Union Corporation, Annual Report, March 31, 1999
  • Security Dynamics Technologies, Inc., Press Release, June 7, 1999
  • About First Union Corporation, First Union web site, www.firstunion.com
  • About Security Dynamics, Security Dynamics web site, www.securitydynamics.com

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