Wave Systems Corp. (fka WAVXQ)

[Genz2]

SEC Urges Better Cybersecurity Practices at Financial Firms

https://www.wsj.com/articles/sec-urges-better-cybersecurity-practices-at-financial-firms-11580207402
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Wave Announces 5-Year Master License Agreement for Virtual Smart Card 2.0 with Leading Global Financial Services Company

https://www.wavesys.com/buzz/pr/wave-announces-5-year-master-license-agreement-virtual-smart-card-20-leading-global

Wins competitive evaluation against market leader in two-factor authentication tokens

Lee, MA -

December 17, 2015 -

Wave Systems Corp. (NASDAQ: WAVX) announces a five-year master licensing agreement (MLA) with a leading global corporation (as determined by the 2015 Fortune Global 500 List) for its Virtual Smart Card 2.0 solution. This MLA sets the terms and pricing for licenses and maintenance across the customer’s global organization and establishes it as their preferred two-factor authentication solution. Instead of one large license purchase for the entire organization, each of the customer’s subordinate divisions will make separate orders in accordance with the terms of this MLA.

The first purchase of 2,000 VSC 2.0 licenses under this agreement, when added to a previous purchase, completes the requirement for the customer’s global IT division. That division will now lead the internal effort to standardize the remaining 150,000+ endpoints within their organization with the new Wave VSC 2.0 solution. While there are no minimum order requirements under the agreement, discussions for additional orders are underway.

“Our five-year agreement with this customer is the first very large scale contract for VSC 2.0 and is an important milestone for Wave,” said Bill Solms, President and CEO of Wave Systems. “This customer is a major global financial services company and their standards for protecting their systems from unauthorized access and the integrity of their data are of the highest order. Wave had to pass a very rigorous technical and business review to win the competition. We believe that this client’s decision to choose Wave Virtual Smart Card 2.0 over their incumbent solution gives us tremendous credibility in the two-factor authentication market. We will remain engaged with this company in order to complete the additional sales and deployments in the months ahead.”

Wave Virtual Smart Card 2.0 is a tokenless, hardware-based, two-factor authentication solution that offers superior security at less than half the cost of comparable solutions. It is the industry’s only enterprise-grade virtual smart card management solution that works on Windows 7, 8 and 10. It also provides management support for the Microsoft Virtual Smart Card on Windows 8 and 10. Wave’s VSC solution emulates the functionality of physical smart cards or tokens, but offers greater convenience to users, significantly lower total cost of ownership, and a greatly reduced risk of unauthorized access.

Wave Virtual Smart Card 2.0 gives IT the ability to:
• Remotely create and delete virtual smart cards
• Provide help desk-assisted recovery
• Configure Passphrase and card policies
• View the status of virtual smart cards and enrolled certificates
• Generate reports for compliance
• Support virtual smart cards on laptops, tablets and desktops with both TPM 1.2 and TPM 2.0 security chips
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If the SEC is going to urge practices like multi factor authentication, organizations should help prevent breaches with better security by using Wave VSC 2.0!!! 160,000 breaches in the last 18 months show how well existing 2FA enterprise products are helping prevent breaches.
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The first link below has Wave's solutions which could make a huge positive impact in the cybersecurity market!! The second link has more great details about Wave VSC 2.0 that aren't covered in the article above. The third link contains very interesting information in the Wave VSC 2.0 White Paper!

https://www.wavesys.com/

https://www.wavesys.com/products/wave-virtual-smart-card

https://www.wavesys.com/virtual-smart-card-2.0-from-wave