VeriSign Online Consumer Identity Verification Service (CAS)

VeriSign Announces General Availability of Online Consumer Identity Verification Service

XML-Based Web Service Enables Enterprises to Conduct Real-Time, Identity Verification for Risk Management and Fraud Prevention

Mountain View, CA, USA. December 10, 2002.

VeriSign, Inc., the leading provider of digital trust services, today announced general availability of its Consumer Authentication Service (CAS), the industry's first standard Web service for online identity verification and management.

VeriSign's CAS provides e-businesses with automated, real-time, 24x7 access to multiple sources of consumer data as well as optimized scoring models that will enable enterprises to quickly and easily determine whether a potential buyer is who they claim to be.

Verifying the identity of customers before beginning an online business relationship is critical for any e-business. According to the Federal Trade Commission, 42 percent of all consumer complaints in 2001 involved identity theft. And the risk of exposure to ID theft for companies increased 80 percent between 2000 and 2001. Some studies reveal that one out of every 50 consumers has suffered identity theft.

VeriSign's CAS addresses these issues by offering customers, including eBay, Inc., a fully managed identity verification and management service that can be implemented quickly, seamlessly and cost-effectively into any legacy environment.

"Verifying online identities makes a tremendous amount of sense for companies because it enables them to improve productivity and cost-efficiency through tried-and-true fraud management technologies," said Anil Pereira, executive vice president of enterprise services, VeriSign. "This is what Web services is all about -- providing solutions that automate complex business processes online so that companies can focus more attention on their core competencies."

How VeriSign's CAS Works

CAS uses a predefined set of XML standards to connect to an enterprise's customer-facing Web application. The authentication data entered by the consumer is automatically routed using XML and encryption through VeriSign's services and checked against a wide variety of best of breed data sources to cross-verify and risk-rank consumer identity in real time. Verification of identity is then automatically communicated back to the enterprise application and to the consumer using underlying XML data. The communication between the enterprise, VeriSign and the data sources is secured with SSL encryption that already is built into standard Web servers and browsers.

The VeriSign Consumer Authentication Service is available today. For more information, please visit:

http://www.verisign.com/products/asb/index.html

About VeriSign

VeriSign, Inc. (NASDAQ: VRSN) is the leading provider of digital trust services that enable everyone, everywhere to engage in commerce and communications with confidence. VeriSign's digital trust services create a trusted environment through four core offerings - Web presence services, security services, payment services, and telecommunications services - powered by a global infrastructure that manages billions of network connections and transactions a day. Additional news and information about the company is available at www.verisign.com.

Contacts

VeriSign Media Relations
Dave Berkowitz
Email: dberkowitz@verisign.com
Tel: +1 650-426-4470

VeriSign Investor Relations
Steven Gatoff
Email: sgatoff@verisign.com
Tel: +1 650-426-4560

['The VeriSign Authentication Service Bureau (ASB) is a managed service for authenticating consumers, medical professionals and businesses partners online -- an effective real time authentication service for fraud and risk management.']

[Source: http://www.verisign.com/corporate/news/2002/pr_20021210c.html]

Prepared by Robin Cover for The XML Cover Pages archive.

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