Press Releases
ING DIRECT SECURES KEY RESOURCES USING CYBER-ARK VAULTING TECHNOLOGY
Repository Enables Key Resources to be Archived, Secure and Continually Available
Dedham, Mass.,-November 10, 2003 - ING DIRECT and Cyber-Ark® Software Inc., today announced that ING DIRECT has selected Cyber-Ark's Vaulting Technology™ to protect and secure key resources. ING DIRECT is one of eight direct banks operated globally by ING (NYSE: ING), one of the world's largest financial services companies.
ING DIRECT offers an alternative to traditional banking by delivering simple financial products, including a high interest savings account with no fees or minimums and a mortgage featuring great rates, direct to customers over the phone and Internet. The company is using Cyber-Ark's Network Vault® to create a secure repository for key resources, making them accessible enterprise-wide to appropriate personnel. Network Vault enables ING DIRECT to track the use of key resources and enables ING DIRECT to create resilient access to critical assets for disaster recovery purposes.
"Managing continual access, especially for the hundreds of heterogeneous IT systems and devices, is a critical component of every IT department and it's both time-consuming and problematic," said David Lewis, ING DIRECT's chief marketing and IT officer. "Network Vault securely streamlines the resiliency of access methods, enabling us to centrally manage key resources. It solves a major problem by assuring the security-and accessibility-of our most important IT assets."
"Access methods, including passwords, are vital to the enterprise and companies have been struggling to control the spiraling overhead and management costs caused by the proliferation of devices," said Alon Cohen, CEO of Cyber-Ark. "Cyber-Ark's Vaulting Technology provides ING DIRECT and other large enterprises with end-to-end security that enables users to transfer, share and archive information across the extended enterprise."
Cyber-Ark provides a safe haven, highly secured regardless of overall network security, where information can be stored and shared. Cyber-Ark's patented Vaulting Technology does not alter the way end users and their partners, suppliers and customers work together, quickly delivering transparent security that doesn't require a vast investment in new tools, training or business processes. This substantially decreases costs, improves security, and enhances the performance associated with doing business throughout the extended enterprise.
About ING DIRECT
Headquartered in Wilmington, DE, ING DIRECT is the operating name of ING Bank fsb (Member FDIC), a federally chartered savings bank, and part of ING (NYSE: ING); one of the world's largest financial institutions with more than $700 billion in assets. ING has been operating in the U.S. for over 100 years, with more than 11,000 employees working for ING companies. ING is ranked 17th on the Fortune Global 500 list (based on a wide range of criteria such as revenues, profits, earnings per share and return to investors) and is 10th on the Forbes International 500 list (based on revenue). ING DIRECT USA has over 1.5 million customers and more than $16 billion in assets. ING DIRECT USA is one of eight direct banks operated globally by ING; the other locations are Canada, Germany (where ING DIRECT is known as DiBa), Australia, France, Spain, the United Kingdom and Italy, with a total worldwide customer base of eight million (including U.S. customers). For product information or to open an account, visit ingdirect.com or call 1-800-ING-DIRECT. Style note to Editors: ING DIRECT is always capitalized and never referred to as ING.
About Cyber-Ark
Cyber-Ark Software Inc., is the leading provider of Vaulting security software that leverages its unique patented Vaulting Technology to create safe havens for securing and sharing vital company information. The Company's award-winning Network Vault® and Inter-Business Vault™ solutions enable a truly secure extended enterprise by providing an infrastructure that allows for completely transparent, yet totally secure, intra- and inter- business communications. Cyber-Ark's leading applications include Treasury Management Vault, CAD/CAM Vault, and Password Vault. Today Cyber-Ark enjoys strong customer relationships with over 80 Global 1000 companies around the world.
Founded by a group of leading military security experts and computer engineers, Cyber-Ark Software is privately held and backed by some of the world's most successful venture capitalists, including Jerusalem Venture Partners, Seed Capital Partners (a SOFTBANK Affiliate), JP Morgan/Chase Partners, Vertex Management and Nomura International Plc.
The Company is located in Dedham, Mass. and on the World Wide Web at www.cyber-ark.com
Cyber-Ark, Network Vault, Inter-Business Vault, and Vaulting Technology are trademarks of Cyber-Ark Software Ltd. in the U.S. and/or other countries. All rights reserved
Cyber-Ark Software Press Contact:
Richard April
Vice President of Marketing
781-251-0670
richard.april@cyber-ark.com