AssureTransaction provides financial institutions and payment clearing houses with the ability to strongly authenticate users and transactions within the middle office infrastructure. It also maximises return on investment by ensuring that all the front office applications can cost effectively access the one strategic authentication server. AssureTransaction ensures that all user credentials and transaction contents are verified to the required standard. It also guarantees that a robust audit trail exists for all transactions and cryptographic keys and that digital certificates are properly managed and protected.

In selecting Thales e-Security for this award, the judges also recognised the success of the BACSTEL-IP project for electronic payment submission for BACS Ltd (Bankers Automated Clearing System). This project also recently won the Financial Sector Technology (FST) award for Best Use of B2B e-Commerce.

BACSTEL-IP provides the UK with the world's most advanced, flexible and cost effective system for electronic payment submission. It is the first phase of the ambitious five-stage technology renewal programme, called NewBACS, which is replacing the BACSTEL telecommunications link for Banks by 2005. This is responsible for processing over 3.7 billion payments from and to over 100,000 UK businesses every year. The NewBACS programme will introduce IP technology and a multi-layer security platform to meet the growing demand for efficient, online payment services.

Thales e-Security's AssureTransaction forms the security backbone for the BACSTEL-IP system, verifying digital signatures and authenticating users. AssureTransaction will provide real-time verification of the PKI (Public Key Infrastructure) smart card identities issued to users by the banks, and check the digital signatures on all payment files submitted to BACS.

John Skipper, product marketing manager at Thales e-Security, said: "This award underlines the critical role and success of AssureTransaction in securing B2B transactions. At the same time the BACSTEL-IP project is a fantastic example of how AssureTransaction is being used to strongly authenticate users and transactions within the middle office infrastructure. We are therefore delighted that both The Banker and Financial Sector Technology have recognised the importance and significance of AssureTransaction."

About Thales and Thales e-Security

Thales is a world leader and front-runner in professional electronics in three key markets: Aerospace, Defence and Information Technology & Services (IT & S). The Group employs 65,000 people in nearly 50 countries worldwide, and generated revenues of over €10 billion in 2001.
Operating in three main markets covering e-security, card payment and network security, Thales e-Security addresses the business, government and finance industry's need for cryptographic security products and solutions. Over half of the world's banks, together with the majority of the busiest exchanges, currently use Thales technology. For more than 20 years the company has been at the forefront of security and payment technology, co-operating and contributing to set the industry standards used for financial transactions and e-commerce globally. Thales e-Security offers a wide range of security solutions to protect Government and Defence critical information infrastructures, thereby positioning the company as a leading worldwide supplier of certified network security products. Visit Thales e-Security on the Web at www.thales-esecurity.com.

About Thales and Security

Thales, one of the globe's leading suppliers of integrated security solutions, addresses the business security needs of corporates and governments alike, protecting transactions, networks, identification documents and sensitive sites. Thales' security capability extends to security and payment technology for financial transactions, networks and e-commerce. An acknowledged expert in smart card technology and applications, Thales is a European leader in security critical electronic payments, integrated Electronic Fund Transfer (EFT), e-purse payment and secured keyboards, as well as being the UK's leading supplier of electronic card payment terminals.

About BACSTEL-IP

In February 2002 BACS launched its technology renewal programme in order to meet the rapidly growing demand for its electronic payment services. BACSTEL-IP is the first stage of the technology renewal programme.
BACSTEL-IP utilises Internet Protocol and Public Key Infrastructure (PKI) to create a new delivery channel with a multi-layered security platform providing businesses with the highest level of security in payment submissions. This upgrade represents a major improvement for business customers with even faster payment confirmation and the ability to track the status of payments online.

Press Contact:
Scott McLean, Hotwire PR +44 (0) 207608 4643
scott.mclean@hotwirepr.com
Drew Benvie, Hotwire PR +44 (0) 207 7608 4628
drew.benvie@hotwirepr.com