Path Solutions integrates DIGIPASS technology into its financial and investment software offering for the Islamic banking market

Zurich and Oakbrook Terrace, IL - 19 June 2012

VASCO Data Security International, Inc. (Nasdaq: VDSI), a leading software security company specializing in authentication products, today announced that it has partnered with Path Solutions, a global provider of technology solutions, consulting services and outsourcing addressing the whole spectrum of the global finance industry and in specific the Islamic finance industry.

Path Solutions is a Kuwait-based multi award-winning provider of Islamic and Investment software solutions offering integrated business solutions and services for the Islamic banking and investment segment. The partnership allows Path Solutions to offer Islamic financial institutions an integrated high-standard solution providing authentication security with VASCO’s best of breed authentication technology.

Path Solutions has integrated VASCO’s leading DIGIPASS technology into its core internet banking applications iMAL*Connect and iMAL*2Mobile, a new generation of comprehensive enterprise Islamic banking and investment systems, providing customers with strong authentication and secure online accessibility to personal accounts as well as ensuring transaction integrity.
iMAL empowers financial organizations to run their businesses in real time mode, ensuring the availability of information on real time basis. By integrating VASCO’s DIGIPASS technology, financial organizations using iMAL enable their customer base to securely access their online personal accounts anywhere at any time.

“VASCO has a longstanding experience in providing security solutions for the banking business which is inherently prone to fraud and hacking attempts”, says Path Solutions’ Group Chairman & CEO, Mohammed Kateeb. “With its authentication technology and DIGIPASS offering, VASCO provides an additional security layer for our internet and mobile banking applications. This strategic partnership with VASCO brings the best of leading-edge technologies together and underwrites Path Solutions’ vision to be the most trusted and innovative provider of information technology solutions and services for the global finance industry and in specific the Islamic finance industry”.

“We believe that this partnership will bring an added value to both our joint customers and prospects”, says Jan Valcke, VASCO’s President and COO. “Together with Path Solutions we can provide the best of breed technologies to the regional market enabling customers to integrate high-level security and gain competitive advantage by boosting their customers’ trust”.

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