Edentify to Cross-Market Its ID Fraud Tools with Intelligent Wave USA CWAT Comprehensive Insider Threat Management and Endpoint Monitoring and Control Software Platform
Posted by Terrence DeFranco on Tue, Jun 12, 2007 @ 07:39 AM
Bethlehem, Pa.
Edentify Inc. (OTC BB: EDFY.OB), a leading provider of identity management and fraud detection solutions, today announced it has entered a strategic alliance with Intelligent Wave USA, a subsidiary of Intelligent Wave Inc. (JASDAQ: 4847), global provider of software solutions for Management of the Insider Threat. Under the agreement, Intelligent Wave USA and Edentify, Inc. will cross-market their products: Edentify’s proprietary risk assessment technologies—IDAssess™, IDScreen™ and IDAlert™ and Intelligent Wave USA, Inc’s Insider Threat Management software solution, CWAT, that detects and stops, in real time, the unauthorized transfer of digital assets to protect Intellectual Property and non-public private information. When implemented together, these complementary systems will provide over 600 customers, including many with international reach, with a comprehensive platform for protecting data and identity information, and preventing digital asset extrusion.
“Intelligent Wave’s focus on data security, coupled with our expertise in identity protection, will fully guard against the damage caused by fraud, data breaches, and credit losses for financial institutions around the world,” says Terrence DeFranco, CEO of Edentify. “Thanks to our strategic marketing alliance with Intelligent Wave USA, we are better positioned to reach and convert customers seeking superior levels of operational security. This strong customer value will translate into continued growth and profit for Edentify, and put us another step closer to realizing the full potential of our marketing efforts.”
Intelligent Wave USA will now bring Edentify’s unique screening and risk score technology to its client roster that includes hundreds of major global institutions. The complete software package will detect, prevent, and monitor ID fraud and theft in three steps:
1. IDAssess™ performs a complete scan of clients’ existing database of customers, and provides the risk score associated with each customer’s identity.
2. IDScreen™ verifies the identity of every new customer before the organization accepts the applicant for business.
3. IDAlert™ continuously monitors the risk score of existing customers, and alerts the institution if any changes occur.
In addition, Edentify’s customers will benefit from access to Intelligent Wave USA’s CWAT (Cyber-crime, Warning, Alert, Termination). This multi-dimensional security system monitors and controls networks and terminals for unauthorized movement of critical data and other digital assets. They can also use the CWAT-compatible Cstick Series—USB memory sticks that offer encryption, logging, and anti-virus features—for additional security.
“CWAT customers save millions of dollars – and sometimes billions of dollars in stock valuation – by avoiding embarrassing leaks of confidential intellectual property and non-public information that can damage their stock price and customer relationships,” says Mr. Kazuhiko Adachi, Founder and Chairman of Intelligent Wave Inc. and Chairman & President of Intelligent Wave USA, Inc. “Now with Edentify as our partner, our software solutions are even more robust and we can expand to a wider customer base, helping many more organizations prevent critical data and information losses.”
ABOUT EDENTIFY
Edentify, Inc. ("Edentify") was formed in August 2004 with the objective of becoming the leading organization in the field of developing and deploying data analysis technology solutions for preventing identity theft and fraud. It is currently a later-stage development company and expects shortly to begin a period of increased growth. Edentify will seek to fulfill its goals by analyzing the means by which identity crimes are perpetrated and through the development of new technologies and procedures to assist corporations, the government and consumers in the fight against identity fraud and related crime.
ABOUT INTELLIGENT WAVE USA
Intelligent Wave Inc is a profitable software company with continuous revenue growth since its founding in December 1984, with $66 million in sales and 250 employees. Headquartered in Tokyo, U.S. operations are run by a wholly owned subsidiary, Intelligent Wave USA with a head office in Manhattan. The company is publicly listed on the Tokyo JASDAQ market and specializes in retail banking online systems and credit card fraud prevention. Last years Intelligent Wave Inc became a global leader in providing Comprehensive Insider Threat Management Software Solution called CWAT. CWAT distributors now include Fujitsu Limited, Mitsubishi Electric Corporation, NEC Corporation, Oki Electric Industry Co., Ltd., NTT Group, and Hewlett-Packard Japan. IWI's U.S. technology partners and distributorships include RSA Security Inc., Cross Current, APPTIS, iGATE, Priva Technologies, Inc, Syscom, Seeknet USA… http://www.iwiusa.com/
Forward-Looking Statement Disclaimer
This press release may contain forward-looking statements that are made pursuant to the safe-harbor provisions of the Private Securities Litigation Reform Act of 1995. Statements of future goals and similar statements reflecting other than historical facts constitute forward-looking statements. These forward-looking statements involve a number of risks and uncertainties, which are described in Edentify’s filings with the Securities and Exchange Commission. The actual results may differ materially from any forward-looking statements due to such risks and uncertainties. Edentify undertakes no obligation to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.
Press Contact:
Mike Lizun
Gregory FCA
610) 642-8253
Email: Mike@GregoryFCA.com
Corporate Contact:
Terrence DeFranco
Edentify, Inc.
(610) 814-6830 <
Email: TmDefranco@Edentify.us