The BITS Financial Services Security Lab announced today that Hewlett-Packard Company’s HP Virtualvault 4.0 product has successfully passed all testing criteria and has been awarded the first BITS Tested Mark certification.
The interactive testing process required HP to respond to identified potential challenges and make recommended improvements to its product as part of the rigorous evaluation of security features, functionality, usability and scalability.
“We are delighted to recognize HP for its leadership and support for information security,” said Catherine A. Allen, CEO of BITS. “And as the BITS Financial Services Security Lab awards its first BITS Tested Mark, we clearly take yet another step toward increasing confidence in the financial services industry’s ability to provide private and secure, safe and sound, electronic banking.”
HP Virtualvault – a part of HP Netaction software – is designed to protect the Web server, internal resources, transactions and business relationships from advanced security attacks that otherwise could be made through a Web server. More than 120 banks in 24 countries currently use HP Virtualvault.
“The achievements in quality and performance signified by the BITS Tested Mark make a powerful statement about HP’s commitment to the financial community and the ability of HP Virtualvault 4.0 to contribute to the success of an organization’s overall security policy,” said Roberto Medrano, General Manager, HP Internet Security Solutions Division.
The membership of BITS, composed of leading financial services organizations, strongly encourages the testing of products to improve the quality of e-commerce offerings and to protect the national infrastructure.
“Security is a priority for us in maintaining the safety and soundness of our customers’ transactions and assets in today’s complex online environment,” said James H. Blanchard, Chairman and CEO, Synovus Financial Corp., and Chairman, BITS Board of Directors. “We are committed to building our infrastructure on the foundation of highly secured products. The BITS Tested Mark gives us the confidence that a product meets the baseline security features established by the financial services community.”
BITS is currently playing a leading role in addressing such industry issues as account aggregation and wireless transactions, global technologies and standards, and privacy and security requirements. The BITS Security Lab tests products that strengthen the security of electronic payment systems and related e-commerce technologies. Predictive Systems provides testing and analysis for the BITS Security Lab, which is operated in Predictive’s Reston, Va., facility.
BITS, the Technology Group for The Financial Services Roundtable, was created by the CEOs and Chairmen of the largest bank-holding institutions in the United States as the strategic “brain trust” for the financial services industry in the e-commerce arena. BITS’ activities are driven by the CEOs and their appointees – CTOs, CIOs, Vice Chairmen and Executive Vice Presidents – who constitute the BITS Advisory Group and BITS Council. BITS was formed in 1996 to foster growth in e-commerce within the financial services industry and to sustain consumer confidence and trust by ensuring the safety, soundness, privacy and security of financial transactions. For more information, visit www.bitsinfo.org.