ATB Financial Selects Beanstream for Application Processing and ID Verification.
VICTORIA, BRITISH COLUMBIA, CANADA - January 23rd, 2006
Beanstream Internet Commerce, Inc. and Equifax Canada Ltd. have been chosen by the ATB Financial to provide the processing and authentication technology for its online credit card application service. This new system replaces a print-and-fax-in approach previously used on the ATB Financial website.
Beanstream's authentication service is a tiered solution which provides escalating degrees of certainty that an individual participating in a transaction is who they claim to be. At its highest levels of authentication, the Beanstream solution matches both in-wallet and out-of-wallet data provided by the consumer against information stored at Equifax and other data service providers. The information provided by the consumer is then scored and weighted against a customized decision matrix developed by Beanstream. The entire process takes seconds to complete and costs a small fraction of the price of manual review processes.
"Authentication tools can be used in a variety of e-commerce and other non face-to-face applications," said Craig Thomson, CEO of Beanstream. "By integrating this security process into the actual online service offering, our merchants are able to deliver their services while increasing their security. This additional protection through authentication is a major comfort to consumers as it addresses one of their their major concerns in participating in online transactions: identity theft."
About ATB Financial
ATB Financial is a leading full-service financial institution based in Edmonton, Alberta, Canada. ATB serves over 600,000 Albertans in 243 communities through 150 branches and 133 agencies, as well as a customer contact centre in Calgary, Alberta. Services are also available through automated banking machines and online banking. www.atb.com.
Equifax enables and secures global commerce through its information management, consumer credit, marketing services, business information, authentication and e-commerce businesses. As the leader in information services, Equifax adds value wherever customers do business. Equifax also enlightens, enables and empowers consumers to manage and protect their financial health with services offered at www.equifax.ca.
About Beanstream Internet Commerce Inc.
Beanstream Internet Commerce Inc. is a leading Canadian electronic payment and authentication solutions provider. Services include merchant account enablement, credit card processing, electronic funds transfer, automated clearinghouse payment processing and credit score and authentication services for both e-commerce and traditional brick and mortar businesses. Beanstream provides a wide selection of products from simple payment gateway services to full end-to-end e-commerce solutions.
Beanstream solutions work with all Canadian and US financial institutions and have been selected by more than 5000 businesses across North America. Beanstream is headquartered in Victoria, British Columbia.