Thales, a leading supplier of IT security products and solutions for all critical infrastructures and Host Security Modules (HSMs) to the finance world, today announced that it is providing its HSM 8000 to secure Nigeria 's first wave of migration to Chip and PIN. Working closely with its partner in Nigeria , InterSwitch, Thales has provided the highest levels of transaction security as Access Bank and the United Bank of Africa (UBA) convert their cards currently in circulation to the international EMV standard.

As Nigeria positions itself as the regional hub for financial services, Access Bank and UBA have become the first banks in the country to provide enhanced security through EMV for their customers. Card fraud levels are likely to rise in Nigeria due to increased card usage and the growing use of international card brands. Consequently, other banks in the country are expected to follow suit by introducing Chip and PIN to provide even stronger security for their customers.

The majority of banks in Nigeria are currently using Thales's RG7000 range. Access Bank and UBA are upgrading to the HSM 8000 solution as a necessary step towards compliance with the Chip and PIN rollout. The HSM 8000 provides the cryptographic functions to secure a range of financial applications. This latest version will support the issuing, acquiring, switching and clearing needs for the processing of the EMV chip card transactions for Access Bank and UBA.

Paul Meadowcroft, head of transaction security for the e-Security activities of Thales , comments: “Through our close partnership with InterSwitch in Nigeria , this project highlights Thales's position as a global market leader in providing the core security which underpins the EMV Chip and PIN programme. Using our experience as a crypto supplier to the world's banking and finance community, we are confident that we are able to provide the security expertise required in Nigeria 's first Chip and PIN migration.”

Managing Director, Mitchel Elegbe, InterSwitch Limited, adds: “We are using the open standards and proven technology to make our already safe payment system even more secure, and although ‘Chip & PIN' migration in other parts of the world have been very expensive exercise that take many years to complete, we have been able to achieve this in Nigeria in only a few months at a fraction of the cost - and the migration will be completed before the end of December 2007.”

UBA and Access Bank are among the top ten financial services providers in Nigeria and the West African sub-region. The Central Bank of Nigeria is driving the migration to Chip and PIN and in 2005 specified e-banking guidelines suggesting that all banks should migrate to Chip and PIN by 2008. It is also expected that EMV cards will soon carry other applications in the future such as loyalty and biometrics.

Notes to the Editor
Thales is a world leader in the provision of cryptographic security products and solutions for all critical infrastructures including governments, the military, satellite networks, enterprises and the finance industry. Thales has 40 years of unrivalled track record in protecting networks up to TOP SECRET and a complete portfolio of products, which includes network encryption, access control and remote user solutions. In the financial world, Thales secures value bearing transactions, data preparation for card and PIN issuing, and provides advanced user and message authentication solutions supported by secure identity management and token issuing. Over half of the world's banks, together with the majority of the busiest exchanges, currently use Thales technology and services.

About Thales
Thales is a leading international electronics and systems group, addressing defence, aerospace and security markets worldwide. Thales's leading-edge technology is supported by 22,000 R&D engineers who offer a capability unmatched in Europe to develop and deploy field-proven mission-critical information systems. To this end, the group's civil and military businesses develop in parallel and share a common base of technologies to serve a single objective: the security of people, property and nations. The group builds its growth on its unique multi-domestic strategy based on trusted partnerships with national customers and market players, while leveraging its global expertise to support local technology and industrial development. Thales employs 68,000 people in 50 countries with forecast 2007 revenues in excess of €12 billion.

Press Contacts
Thales, Security Solutions & Services
Sarah Milligan
Tel. +44 1 844 204 181
sarah.milligan@thales-esecurity.com

Thales Corporate Communications
Markus Leutert
Tel. +33 (0)1 57 77 86 26
markus.leutert@thalesgroup.com