|By Business Wire||
|March 17, 2014 04:25 PM EDT||
Tyfone (www.tyfone.com), a cyber and mobile secure ID and secure transaction solutions provider, today announces the appointment of Nizar Jamal as the company’s chief technology officer. Previously, Mr. Jamal was the managing director of client-facing technologies at UBS in Switzerland, where he was responsible for implementing secure mobile and social platforms across UBS. Prior to UBS, he co-founded Impelsys, a digital publishing solutions provider, where he led the implementation of their cloud-based software as a service strategy and transformed the organization from its former direct service approach. Before co-founding Impelsys, Mr. Jamal spent several years in the San Francisco Bay Area with enterprise software, network infrastructure and security industry startups.
Last year, Tyfone announced The Connected Smart Card™ (CSC™), a breakthrough security solution to address imminent cyber security concerns, and entered into a strategic investment and technology development agreement with In-Q-Tel to bring mobile security for U.S. Government. Tyfone’s CSC is also being piloted by CoVantage Credit Union to enable secure cyber transactions for their business banking customers. Tyfone has its current customer base in the U.S., Mideast, Indonesia and China and is growing rapidly in the cybersecurity space globally.
The economic impact of cybercrime increased to more than $1 trillion in 2013, according to the Center of Strategic and International Studies. This cost increase is in spite of organizations spending over $46 billion on cybersecurity last year, according to HP. With this trend, the need for Tyfone’s innovative CSC security solution is global and urgent. Mr. Jamal’s experience will add a new dimension to the management team and enable the company’s growth and scaling in the global markets.
“I am pleased to join a team that has mobility, security and convenience at their core and solutions that fit the current market needs. The company’s IP, technology, implementations and team impressed me and I believe I can add value to the company’s global plans and growth during this critical juncture in its evolution,” said Nizar Jamal, chief technology officer of Tyfone. “I look forward to working with the team and addressing the steps necessary to meet this demand.”
“The ugly fact of cybercrime is that current software-only solutions that attempt to manage security centrally in the cloud are ineffective at deterring cybercriminals. Tyfone’s CSC smart card-based hardware decentralizes and stores IDs and other credentials locally, not centrally in the cloud. Nizar’s extensive background in building teams, technologies and processes, combined with his experience in security, mobility, cloud computing and banking, will be of immense value as we grow our business globally,” said Dr. Siva Narendra, co-founder and chief executive officer of Tyfone. “We are excited to have him on board.”
Tyfone is a pioneer in cyber and mobile security and transaction services for financial, government, B2B, healthcare, and other enterprises. It has more than 400 issued invention claims and has more than 90 issued and pending patents that enable ID and transaction security on any device. Tyfone’s apps, transaction software and The Connected Smart Card™ (CSC™) security hardware enable ID and transaction security on any OS or device. The Company’s platform solution has processed over 30 million transactions and has helped transact over $500 million. Tyfone customers include two of the top 10 member-owned financial institutions (Credit Unions) in the U.S., and the Company signed a strategic agreement with In-Q-Tel in 2012 to bring its mobile security solutions to the U.S. Government. Tyfone’s corporate headquarters is located in Portland, Oregon.
Tyfone, The Connected Smart Card, CSC, SideSafe, SideTap, SideKey, SideBand and u4ia are trademarks of Tyfone, Inc. All other names are the property of their respective owners.
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