IronKey Amps up Growth in Q2 2011

August 30, 2011

FFIEC Guidelines, New Bank Customers, and First Data Partnership Fuel Growth

IronKey, the leader in securing data and online access, continued to accelerate growth in Q2 with a 70 percent increase in bookings quarter-over-quarter. IronKey's growth is driven by the high demand for its Trusted Access secure browsing products to counter the threat of crimeware on bank customers' computers, identified as the most alarming threat to online banking executives in the U.S. by research firm Gartner, Inc.(1)

Market developments and IronKey advancements fueling this growth include:

  • New Federal Finance Institutions Examination Council (FFIEC) guidelines with a January 2012 deadline call for stronger, layered online banking security and recognize IronKey's Trusted Access for Banking approach as a proven and effective means to reduce the risk of online banking fraud
  • New partnership with First Data to refer their Internet banking services customers to IronKey Trusted Access for Banking
  • New product functionality including Trusted Bookmarks, a capability that enables banks and credit unions to provide quick and safe access for their customers to popular websites -- with institutions using this as a competitive differentiator to grow their customer base and revenues by charging for the service
  • Strategic executive appointments, including CFO Mark Schulte and SVP of product management Ajay Nigam from Symantec, with deep experience in security and cloud-based services with fast growth technology companies

"Our strong Q2 performance, new regulatory guidance and analyst recommendations validate IronKey's unique approach to reducing the risk of online banking fraud for our customers and partners," said Arthur Wong, CEO of IronKey. "With new crimeware attacks reported daily and banks expected to meet the January 2012 compliance deadline, IronKey is excited about the prospects for continued strong growth and customer success."

Resources
"Protecting Online Banking Customers from Evolving Cyber Crime Threats" -- webcast explains the latest bank phishing attacks, the ZeuS Trojan and SpyEye, and why anti-virus software, firewalls and other conventional safeguards are not able to stop these attacks.

"Trusted Access Guided Demonstration" -- product demonstration and example attacks.

"IronKey Enterprise Guided Demonstration" -- secure storage, remote management demo.

About IronKey
Ranked as the 14th best venture-funded company in The Wall Street Journal's "Next Big Thing 2011" survey, IronKey secures data and online access with software and hardware solutions managed through cloud-based services. IronKey's award-winning Trusted Access for Banking helps financial institutions reduce the risk of online fraud and acquire new customers by enabling secure browsing safe from crimeware attacks on their clients' PCs. Trusted Access meets new Federal Financial Institutions Examination Council (FFIEC) guidelines for layered online banking security as well as recommendations from the FBI and NACHA. IronKey's industry-leading mobile data protection solutions prevent costly data breaches with military-grade encrypted portable storage devices and cloud-based management. Visit www.IronKey.com for more information.

(1) "The Five Layers of Fraud Prevention and Using Them to Beat Malware," Gartner, April 2011