• E-mail
• Print
• Comment
• Font Size
• Digg
• del.icio.us
• Discuss article

AP Technology Forms Strategic Partnership With Keneisys Corp., Bringing Banks and Their Clients Next-Generation Security for Financial Data Exchange

Posted on: Monday, 8 May 2006, 15:03 CDT

AP Technology, a leading provider of financial data connectivity and printing solutions, announced today that it has formed a partnership with Keneisys Corp., the creator of Virtual Strongbox(TM) (VSB(TM)) Technology, to deliver financial data exchange applications that will create a new standard for data security. AP Technology and Keneisys will offer patent-pending technology designed to keep data confidential, ensure data integrity, and provide tamper-proof auditing in seamless, automated product offerings, such as AP Technology's Transporter software designed for unattended financial data exchange.

Banks using AP Technology solutions integrated with VSB offer their clients the new standard of security for automated sharing of financial information. VSB intelligence goes far beyond simple, single-pass user authentication and data encryption to truly provide end-to-end security that will ensure complete confidentiality, integrity and accountability for any type of file sent through any delivery channel, including email, internet, FTP, or as an electronic file via common carrier.

"By being the first to deliver Virtual Strongbox (VSB(TM)) technology into financial applications, we continue our evolution of developing industry-leading solutions that create the highest levels of security and ease-of-use available. Through this exclusive development and marketing partnership, we are able to tailor VSB technology to our exact specifications for a tight integration with our financial solutions. VSB's advanced security protection will combine with AP Technology solutions that already offer universal compatibility with the wide array of file types and delivery methods, raw data normalization, zip compression, as well as ease-of-use advantages such as drag-and-drop or scheduled file delivery. We expect to have our patent-pending Transporter product enabled with VSB technology by September of this year," states Richard Love, Chief Executive Officer, AP Technology.

"The demands imposed by Sarbanes-Oxley and Graham-Leach-Bliley legislation, as well as rising identity theft and data integrity concerns, have left banks and businesses searching for best practices and solutions to ascertain and account for information ownership and privacy protection. Most security solutions are inefficient and use technology that is more than five years old. They do not meet today's security requirements. Our partnership with Keneisys ushers in the next generation of security technology for financial applications. It is a powerful union of today's leading technologies for data conversion, transmission, automation, and security that is driven by key issues of successfully fighting fraud and identity theft for banks and businesses alike," states John Cipraino, Senior VP, AP Technology.

"VSB enhances AP Technology solutions with a security that is less restrictive, easier to use, and yet at the same time, far more effective than anything else available today," states Itai Nemovicher, Vice President of Operations, Keneisys Corp.

"This synergistic partnership between two technologically sophisticated companies allows for collaboration on solutions that will have enormous benefits for the financial services sector, and beyond. We are extremely pleased to have AP Technology on board as an integral part of the Keneisys family," states E. Laughlin Flanagan, CEO/President, Keneisys Corp.

About AP Technology

Headquartered in Carlsbad, Calif., AP Technology is a leading provider of solutions for secure conversion, normalization, and exchange of cash management data and information. AP Technology solutions enhance the connection between banks and businesses by automating secure, cost-effective, and personalized data exchange. These solutions include SecurePay, the nation's top-selling positive pay file conversion and transmission software. AP Technology has partnerships with 9 of the 10 leading U.S. commercial banks. For more information on the company's business-banking connectivity solutions, visit www.aptechnology.com.

About Keneisys Corp.

Keneisys Corp. is a solutions company that specializes in information ownership and privacy protection. The company provides solutions to the problems of information ownership in the digital world. They accomplish this by ensuring confidentiality, integrity and accountability for any type of electronic file -- all at the self-contained file level. One critical way in which Keneisys differentiates itself is by providing a total enterprise-ready solution, including a unique patent-pending, proprietary technology for authenticating users. For additional information, contact E. Laughlin Flanagan, CEO/President of Keneisys Corp., at 775-843-6935 or elf@keneisys.com

Keneisys Virtual Strongbox (VSB) -- Provides autonomous, self-contained security, completely independent of security appliances, security servers, Virtual Private Networks and all the other accoutrements and dependencies of typical enterprise data security.

For more information visit www.keneisys.com.

Source: Business Wire

More News in this Category