GENEVA & WILMINGTON, Del.--(BUSINESS WIRE)--
WISeKey and The Bancorp, Inc. (“Bancorp”) (Nasdaq: TBBK) have signed a
memorandum of understanding to establish a joint venture to deploy and
secure financial services internationally via the WISeID platform (http://www.wiseid.mobi).
Bancorp and WISeKey reached an agreement that would result in the
integration of WISeKey’s Digital Identity Management platform into
Bancorp’s technology infrastructure. This will grant Bancorp customers –
both individuals and organizations - trusted identities, enabling them
to complete online transactions with confidence, trust the identities of
others, and the identities of the infrastructure on which the
transactions run. Certain procedural steps regarding the formation of
the joint venture remain subject to finalization among the parties.
The parties shall deploy combined WISeID Bancorp applications and
solutions in the USA, EU, and China. At present, the collaboration
includes the development of:
-
A full Public Key Infrastructure (PKI) for Bancorp including a
globally trusted Certification Authority under the framework designed
by the White House National Strategy for Trusted Identities in Cyber
Space.
-
A private-label mobile application and service platform that provides
Near Field Communication (NFC) payment functions, pre-paid services
capabilities, e-coupons, targeted advertising, as well as the
management of and access to personal data by users.
Carlos Moreira, Founder and CEO of WISeKey said, “Together with the
International Organization for the Security of Global Transactions
(OISTE) Foundation, we are very happy to cooperate with Bancorp to
create the trusted infrastructure required to provide millions of people
with an interoperable ‘environment’ for identification, authentication,
and authorization during the course of online transactions. This
cooperation goes in line with WISeKey’s commitment to the Clinton Global
Initiative (http://goo.gl/F0RW3)
to provide one billion digital identities with prepaid capabilities by
2015.”
Frank Mastrangelo, President of Bancorp said, “The Bancorp Bank is
‘Changing the Way America Pays™’ and now with relationships like WISeKey
we are extending our services to the world. We will improve payment
processes using WISeKey’s world class security and authentication
technologies. We will introduce new user-friendly, prepaid payment
systems. Our new Joint Venture will offer WISeID-Bancorp clients prepaid
solutions that reduce expenses, streamline processes, and add value to
their products and services.”
About WISeKey
WISeKey is a leading information security and identity management
company, and provides specialized security technologies for data
protection, and effective identification and authentication of people
and objects, over closed networks, physical infrastructures, and the
Internet to ensure secure communications and transactions, without
compromising trust. Headquartered in Geneva Switzerland, WISeKey has
regional subsidiaries around the world. Since 1999, WISeKey has
successfully deployed solutions to resolve advanced e-security issues
for organizations in industry sectors such as defense, health,
education, finance, and government.
About The Bancorp Inc.
The Bancorp, Inc. is a bank holding company that operates The Bancorp
Bank, an FDIC-insured commercial bank that delivers a full array of
financial services and products both directly and through private-label
affinity programs nationwide. The Bancorp Bank’s regional community bank
operations serve the needs of small and mid-size businesses and their
principals in the Philadelphia-Wilmington region.
WISeKey SA
Eileen Weinberg, +41-22-594-30-00
eweinber@wisekey.com
www.wisekey.com
or
The
Bancorp, Inc.
Andres Viroslav, 215-861-7990
andres.viroslav@thebancorp.com
www.thebancorp.com
Source: The Bancorp, Inc.