1. 2009
Trusted
Financial
Services
Future of online banking
TFS (Trusted Financial Services) is an identity theft & asset risk
management service providing reliance and integrity based
technologies to service the retail & commercial banking sector.
7/26/2009
2. TFS (Trusted Financial Services) is an identity theft & asset risk management
service providing reliance and integrity based technologies to service the retail &
commercial banking sector.
Fact Sheet
Financial Insights: Global Risk Management
Individual financial institutions invest an average of $10 million annually in
identity theft & asset risk management technology, with many of the largest
institutions investing hundreds of millions of dollars. Despite the near‐universal
adoption of these technologies, few agree on what the term identity theft & asset
risk management means. TFS has created the benchmark definition of the identity
theft & asset risk reversal, by doing the complete opposite of what our
competitors are doing. We do not use names or address details that give away the
card users identity over a wireless network when making a transaction; we use
representations of that user called dynamic representations. We do not send the
debit or credit card details of a card holder over a wireless network; we use Origin
reference numbers and cryptographic logic (pattern matrix) to interrogate and
examine the credential in an instant, this verification is human verified. Our Origin
based credit/debit cards do not have embossed details on the cards; our cards are
XXXX that the user enters their pin to release a pattern matrix and numeric
reference number. This pattern matrix is the key to determining the rightful
owner controlling the token (card). We use dynamic identities/passwords to stop
replay attacks and key stroking threats. We have our own hardware devices and
encryption technology that supersedes conventional algorithms. We also have
geometric fingerprints to stop card cloning. This service helps financial institutions
make mission‐critical decisions on their POS (point of sale) investments in a
variety of risk technologies and advises providers of these technologies on
successful strategies for market entry and penetration.
Approach
As a leading authority on identity theft & asset risk management technology, our
research team understands current trends and issues, and it has a vision for the
future of identity theft & asset risk management technology that helps clients
stay ahead of the curve and invest for long‐term competitive advantage. TFS is
All rights reserved Validate Limited 2009‐07‐26
3. designed to provide a global perspective across all geographies, examining best
practices and market leaders, wherever they may be.
Topics Addressed
TFS addresses the following topics:
· Identity Theft/Risk
· Asset Risk (money & brand‐identity)
· Card Cloning
· Liquidity management solutions
· Managing IT risk and compliance
· Credit modeling
· Enterprise risk management
· Driving forces behind risk infrastructure technology investments
Key Questions Answered
TFS addresses the following issues that are critical to your success:
· What risk technology investments should your firm be considering? What
are the implications of not making those investments?
· What are the critical infrastructure components to put in place to ensure
the flexibility and scalability of your firm's risk analytics?
· How can credit and operational risk systems be deployed to fulfill multiple
regulatory requirements?
· What systems must be put in place in order to pursue best‐of‐breed credit
portfolio management and risk‐based capital allocation?
· How should existing data infrastructures evolve to meet the needs of
financial services institutions for the near term and over the next decade?
· How do independent software vendors on the ever‐expanding and ‐
contracting list compare with each other and with industry needs?
To build your own trusted financial services practice requires far more than
technical competence. TFS is aimed at people who want to work for themselves,
building their own businesses rather than spending their lives working for
someone else and building someone else’s capital value and someone else’s
future.
All rights reserved Validate Limited 2009‐07‐26
4. I’m also addressing the many thousands of financial services intermediaries in
parts of the world where the products are relatively new, where prosperity and
financial independence are now becoming far more achievable: countries such as
China, Russia along with India and the Far East.
Validate has built a very good business from scratch, based entirely on effective
networking and acquiring technologies to implement “Trusted Financial Services”.
These technologies will help you to set yourself apart from the competition and
build a profitable retail/commercial bank while becoming a trusted and respected
member of your community.
TFS (Trusted Financial Services) identity theft & Asset Risk Management
Mitigate risk with iterative approach and multi‐layer security platform Flexibility
to change quickly and securely provides TFS benefits without the risk
BUSINESS CHALLENGE
For the many financial service companies considering or already in the process of
implementing Point of Sale architecture (POS), risk management and security
remain key concerns. In fact, security is frequently cited as one of the chief
reasons financial service companies delay initial or alternative POS deployment.
Providing sufficient security around applications – particularly in a wireless‐based
world – has long been a challenge for IT managers. Because POS introduces
additional “links” in an interconnected chain of heterogeneous parts from where
data resides to how it’s presented to the end user, there are even more access
points for a potential security breach. Moreover, some companies are making
their data and internal systems available to their customers, partners and
suppliers for the first time, heightening perceived security risks. Like many
companies you may be struggling to understand the best way to provide enough
transparency to the end user.
You’re also challenged to manage general risk across your POS deployment,
particularly in an economy where budgets can be cut at a moment’s notice. Most
financial service companies today simply don’t have the requisite finances, time
or human resources to implement POS with a top‐down, design‐heavy approach
that will fail to deliver ROI for years and cannot adapt to changing requirements.
With the added challenges of organizational resistance, the need for governance,
All rights reserved Validate Limited 2009‐07‐26
5. and lack of skilled resources, it’s easy to understand why IT managers want to
proceed with caution.
To ensure a cost‐effective, seamless and secure POS deployment, you need an
experienced partner that can navigate these risks for you and maximize ROI for
your organization.
SOLUTION OVERVIEW
Validate combines a user‐centric, iterative POS process with powerful
implementation tools that feature strict standards, backwards compatibility and
strong security. Together, these offerings reduce your business risk and enable
faster, more secure and successful POS deployments.
Our four‐stage methodology provides the framework for a directed “bottoms‐up”
approach that incorporates strategic vision and substantially mitigates business
risk compared to historical implementations. With rapid modeling of services to
end users through our 100‐percent standards‐compliant Origin SMS Platform tool,
you can achieve early wins while continuously improving risk management and
security. This framework allows you to implement POS beginning at the
department level and achieve rapid ROI without compromise.
BENEFITS
Reduce risk of project failure••—by continually re‐aligning your POS projects with
business strategy and user needs, you dramatically reduce your risk of project
failure. Rich customer interaction and quick turnaround on change requests
ensure you’re supporting agility and achieving rapid ROI.
Flexibility••—our iterative approach allows you rapidly adjust to changes in
funding, requirements, unexpected requests, regulatory requirements and
more. You also benefit from flexible security options. Utilize our built‐in
security layer or “plug in” existing or best‐of‐breed security systems.
••Mitigate security risk associated with standard changes—our Origin tool is 100‐
percent standards compliant and backwards compatible, ensuring that if
standards change, your services can be automatically modified to comply.
Achieve POS results quickly••—Because our methodology and tools enable you to
build Wireless POS services in a fraction of the traditional time, you begin
creating business value within days to weeks – all while managing risk.
All rights reserved Validate Limited 2009‐07‐26
6. POS HARDWARE & CARD SOLUTION DETAILS
· iPOS (iPhone Point of Sale) terminals,
· iTM (iPhone Teller Machine)terminals
· iCard credit/debit cards
· iCard Cash (substitute for cash)
· dPOS (desktop Point of Sale) terminals
At Validate, we believe that leveraging an agile implementation process is critical
to mitigating risk and ensuring long‐term agility for your business. Our POS
Terminals package of services takes you through a participative design and
development process with four critical stages:
POS Boot camp—One‐day training to provide both business and IT professionals
with POS insight and ensure investment in the process.
POS Visioning—Rather than focusing principally on your technology systems, we
start by evaluating your corporate strategy which acts as our guide for all projects
and the foundation for unearthing more detailed user stories and epics. Based on
user interviews, we ultimately formulate a POS vision and identify both “quick”
and “high‐ROI” win opportunities.
POS Jumpstart—Utilizing our innovative Origin SMS Platform, we begin
developing SMS services that can be immediately deployed to the business.
Within days, users are able to see and provide feedback on services, keeping
them invested in the process. Based on their feedback, you move through a rapid
“build, try, revise” process, ensuring quick wins that feed into the over‐arching
vision.
POS Retrospective—after evaluating initial successes and identifying areas for
improvement, we deliver a business case for your POS program. We then repeat
the iterative process (beginning at Visioning) for your next release or stage,
incorporating lessons learned.
Origin SMS Platform Security—Our Origin SMS Platform supports our agile
approach by allowing you too rapidly and securely create POS services and model
them to users. It enables flexible and broad security management through: This
iterative approach allows you to adapt as you go, minimize rework and wasted
effort, and realize gains in productivity by up to 75 percent.
All rights reserved Validate Limited 2009‐07‐26
7. Multi‐layer Security —Origin SMS Platform allows you to:
Set security at the gateway, table, operation and/or ••Wireless‐service level.
Utilize our standards‐compliant default security •settings or “plug in” your own
security solution with point‐and‐click ease. You eliminate the risk of having
multiple security systems in your environment or being locked into a
proprietary tool.
Multi‐layer Security —Origin SMS Platform is 100‐percent standards compliant,
ensuring:
Ease of use and deployment – •Origin SMS Platform delivers a high level of
functionality through a simple interface layer, enabling fast plug‐in and
insulation from underlying complexity. It can be used with ease by technology
staff and business analysts alike. You’re able to build sophisticated
departmental services without compromise and easily integrate across the
organization over time.
Backwards compatibility – Use your existing •development tools to create your
Wireless service applications. If standards change, Origin SMS Platform can
automatically re‐generate all of your Wireless services to the new standard.
Security and Governance Consulting
Our consultants can help you define a comprehensive security and/or governance
plan. Our consultants identify which security models and governance frameworks
best suit your business and demonstrate how to support them with technology
appropriately.
All rights reserved Validate Limited 2009‐07‐26