October 28, 2008
Flagstar Bank Sees 10 Percent Increase in Online Enrollments With VeriSign EV SSL Certificates
Net Finance East, Booth #41 -- As today's market conditions grow in uncertainty each day, customers of Michigan-based Flagstar Bank can be certain they are logging on to a legitimate Flagstar Bank site, thanks to advanced security and validation solutions from VeriSign, Inc. (NASDAQ: VRSN), the leading provider of Internet infrastructure for the networked world.
With VeriSign(R) Extended Validation (EV) Secure Sockets Layer (SSL) protection, Flagstar is building trust and confidence among its customers by offering instantly recognizable assurance that they have reached the genuine Flagstar site. This easily identifiable source of assurance has led to a 10 percent increase in online enrollments.(1) As fraudsters seek to exploit the current economic crisis in their phishing attacks,(2) trust indicators like those provided by EV SSL's green address bar are instrumental in helping protect online customers.
"Our move to EV was part of a major modernization of our Web presence in which we improved navigability, added functionality and enhanced personalization," said Jason Dufner, senior vice president, IT Content and Banking Systems at Flagstar Bank. "Whenever we perform such an overhaul, it's important to continue to advance in information security, and VeriSign EV SSL was just the right thing. The EV green address bar assures our customers that they're dealing with the real Flagstar in a way that's more visible and reliable than ever before."
Flagstar Bank has been at the forefront of Internet security technology. In fact, Mortgage Technology magazine has named Flagstar one of the Top 25 Tech-Savvy Lenders for the last five years.
"Over 1,200 financial institutions have adopted VeriSign EV SSL Certificates to help protect their valued clientele from the financially devastating impact of identity theft," said Tim Callan, vice president of SSL product marketing at VeriSign. "Momentum is building around EV as over 60 percent of the world is now using EV enabled browsers, such as Internet Explorer 7, Firefox 3, Opera 9.5 and Google Chrome. Now more than ever, consumers need to feel comfortable placing their personal information online. EV SSL gives consumers that reassurance."
VeriSign EV SSL-protected sites enable the latest high security browsers to display a green address bar, which helps to assure Web site visitors that they are transacting with the validated business they intend to communicate with, rather than an illegitimate impostor site. Other visual cues triggered by the presence of an EV SSL Certificate include a new field that contains the name of the organization that owns the site and in some cases the name of the security provider that issued the certificate, such as VeriSign.
As the most respected and trusted SSL authority on the Web, VeriSign is the EV SSL Certificate provider of choice for more than 6,000 Internet domains, representing greater than 75 percent of the entire EV SSL Certificate market worldwide.(3) In fact, over 95 percent of the Fortune 500 and 96 of the world's 100 largest SSL-using banks secure their sites with SSL Certificates sold by VeriSign. To learn more about VeriSign EV SSL, visit http://www.verisign.com/EV-SSL.
About Flagstar Bank
Flagstar Bank is a subsidiary of Flagstar Bancorp (NYSE: FBC), a bank holding company headquartered in Troy, Mich. With $14.6 billion in total assets, Flagstar Bancorp is the largest publicly held savings bank headquartered in the Midwest. At June 30, 2008, Flagstar operated 170 banking centers in Michigan, Indiana and Georgia and 121 home loan centers in 26 states. Flagstar originates home loans nationwide and is one of the leading originators of residential mortgages. For more information, please visit www.flagstar.com.
VeriSign, Inc. (NASDAQ: VRSN), operates Internet infrastructure services that enable and protect billions of interactions every day across the world's voice, video and data networks. Additional news and information about the company is available at www.verisign.com.
Statements in this announcement other than historical data and information constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements involve risks and uncertainties that could cause VeriSign's actual results to differ materially from those stated or implied by such forward-looking statements. The potential risks and uncertainties include, among others, the uncertainty of future revenue and profitability and potential fluctuations in quarterly operating results due to such factors as the inability of VeriSign to successfully develop and market new products and services and customer acceptance of any new products or services, including VeriSign Domain Name Services; the possibility that VeriSign's announced new services may not result in additional customers, profits or revenues; and increased competition and pricing pressures. More information about potential factors that could affect the company's business and financial results is included in VeriSign's filings with the Securities and Exchange Commission, including in the company's Annual Report on Form 10-K for the year ended December 31, 2007 and quarterly reports on Form 10-Q. VeriSign undertakes no obligation to update any of the forward-looking statements after the date of this press release.
Copyright2008 VeriSign, Inc. All rights reserved. VeriSign, the VeriSign logo, the checkmark circle, and other trademarks, service marks, and designs are registered or unregistered trademarks of VeriSign, Inc., and its subsidiaries in the United States and in foreign countries. All other trademarks are property of their respective owners.
(1) Your company's results could vary.
(2) Washington Post, 10.10.08, "Phishers, Virus Writers Exploit Global Financial Crisis," http://voices.washingtonpost.com/securityfix/2008/10/phishers_virus_writers_exploit.html
(3) Includes VeriSign's subsidiaries, affiliates and resellers.
SOURCE: VeriSign, Inc.