M-Tech Announces P-Synch Licensees in Financial Sector
September 5, 2001
P-Synch proves to be best solution for large companies
M-Tech announced that it has completed several new enterprise license agreements with financial institutions for P-Synch, the total password management solution. The institutions, with combined assets of over US$150 billion dollars, include:
- City National Bank
California's Premier Private and Business Bank with 50 banking offices in eight California counties.
- Standard Chartered Bank
The world's leading emerging markets bank employing 30,000 people in over 600 offices across 56 countries primarily in Asia, the sub-continent, the Middle East, Africa and Latin America.
- Bank of Hawaii
Hawaii's largest commercial bank, and part of the Pacific Century Financial Corporation, with over US$14 billion in assets.
- Discover Financial Services
A business unit of Morgan Stanley Dean Witter & Co, operates the Discover Card brands with more than 46 million Cardmembers and the Discover Network with more than 3 million merchant and cash access locations.
"Clearly financial institutions have stringent requirements for their systems security software," said Idan Shoham, M-Tech's CTO. "These organizations have validated, through extensive analysis and laboratory testing, that P-Synch is secure and scalable enough to support their requirements."
"Each of these organizations considered competing password management products, but chose P-Synch because of its superior technology and performance," said Alan Donenfeld, M-Tech's Director of Corporate Sales. "This validates M-Tech's advantage in the password management market, as a company with a rich heritage in network security infrastructure."
Collectively, these organizations are deploying P-Synch to manage passwords on many platforms, including Windows NT, Windows 2000, various types of Unix, OS390 mainframes, AS400 mid-range systems, client/server databases, Novell NetWare, custom banking applications and more.
"Three of these four customers managed their own implementations, with minimal requirement for technical assistance from M-Tech", said Alan Donenfeld, M-Tech's Director of Corporate Sales. This echoes a general trend we have seen in the marketplace since the release of P-Synch 5.0 and now 6.0.i This illustrates the ease with which P-Synch is implemented, integrated and deployed in a heterogeneous environment -- a clear advantage over other less advanced password management systems, which require extensive and expensive vendor supplied implementation services."
P-Synch's security features include enterprise-wide password rule enforcement, to eliminate easy-to-guess passwords, and password synchronization. P-Synch is the only password management product that can synchonize passwords across more than 60 platforms, and includes this feature at no extra cost. P-Synch allows organizations to significantly reduce the costs of password management by allowing users to reset their own passwords, rather than calling the help desk for support. Password resets account for 20% of calls to the help desk in many organizations, and reduce the productivity of users as they wait for resolution.
M-Tech is a computer security products company. The M-Tech identity management suite streamlines both password management and account provisioning, in addition to improving user self-service, and reducing user support costs. Hitachi ID Password Manager (formerly P-Synch) and Hitachi ID Identity Manager improve the security of network systems and lower their operating costs. The M-Tech client list includes top Fortune-500 companies such as Ford Motor Company, Sears Roebuck, AT&T Wireless, Bristol-Myers Squibb, and many more. For more information, please visit: Hitachi-ID.com
M-Tech's flagship product, P-Synch, is the leading password management solution. With millions of users in 400 organizations worldwide, P-Synch manages more passwords for more users on more systems than any other product on the market.
To find out more about P-Synch, visit Hitachi-ID.com/password-manager.