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® 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.