Welcome!

News Feed Item

Wave Virtual Smart Card 2.0 Protects Organizations With Stronger Security at Lower Cost

LEE, MA--(Marketwired - July 22, 2014) - Sophisticated hacking techniques have left businesses more vulnerable than ever while rendering traditional authentication methods inadequate to protect them. That's why Wave Systems Corp. (NASDAQ: WAVX) today unveiled a new kind of virtual smart card that offers stronger authentication at significantly less cost than traditional second-factor authentication options. 

A live webcast of the launch is available on wave.com at 2 p.m. EDT today.

The Wave Virtual Smart Card 2.0 is the industry's only enterprise-grade virtual smart card management solution that works on Windows 7. It also supports Windows 8 and 8.1. Wave's new solution emulates the functionality of physical smart cards or tokens, but offers greater convenience to users, lower total cost of ownership, and a reduced risk of unauthorized use.

Businesses need to adopt virtual smart cards because today's security landscape is riddled with data breaches, and recent hacks have shown that current authentication methods are flawed. Passwords are easy to crack, difficult to remember and expensive to manage. While tokens and physical smart cards may provide strong security, the costs to purchase, maintain and replace them when lost or damaged can quickly rise.

Organizations that deploy Wave Virtual Smart Card 2.0 gain the security of smart card authentication while eliminating the problem of lost or stolen tokens and physical smart cards, resulting in lower costs and fewer help desk incidents. Many large companies report that more than 30% of physical smart cards and tokens must be replaced each year. By switching to virtual smart cards, these companies can save those costs and often 50% or more on the total authentication solution.

How it works
The Wave solution conveniently provisions virtual smart cards to users' devices from a central management server, using the Trusted Platform Module (TPM) security chip as the security foundation for each virtual smart card. The chip's capabilities include the secure storage of credentials such as keys and certificates. These TPM chips have been shipping on most business computers for much of the last decade, with hundreds of millions shipped to date.

The Wave Virtual Smart Card 2.0 solution takes the user identity of the individual and binds it to the unique device identity generated by the TPM chip in the devices that are associated with that user. Even if a hacker were to gain access to the user's valid user credentials, without the device ID credential from one of that user's known and trusted devices, the authentication and access to the environment or application that they were trying to gain access to would be denied. This means that a hacker would have to gain physical control of the targeted user's device, crack the security on the device, and then submit the valid user credentials from that device before its loss is noticed and its access is turned off.

Virtual Smart Card 2.0 enables the enterprise to easily provision, manage and support virtual smart cards for its users. Virtual smart cards provide an attractive and convenient path to increased security over usernames and passwords without the added costs of managing physical smart cards and smart card readers. 

Wave Virtual Smart Card 2.0 gives IT the ability to:

  • Remotely create and delete virtual smart cards
  • Provide help desk-assisted recovery
  • Configure PIN and card policies
  • View the status of virtual smart cards and enrolled certificates
  • Generate reports for compliance
  • Support virtual smart cards on laptops, tablets and desktops with TPM 1.2 or TPM 2.0

"With Wave Virtual Smart Card 2.0, enterprises can avoid many of the headaches of traditional authentication technologies with the same security as using physical smart cards in a PKI environment," said Bill Solms, CEO of Wave. "Virtual smart cards are less expensive to manage, easier and faster to deploy and effectively address the problem of lost or stolen tokens."

"DMI has a long history working with Wave Systems to advance the state-of-the-art in IT security," said Jay Sunny Bajaj, president and CEO of DMI, a global leader in enterprise mobile solutions and Wave Solutions Partner. "Wave's new Virtual Smart Card 2.0 enables us to save our clients money, improve and future-proof their IT security, and enhance the user experience all at the same time."

Wave's virtual smart card solution can help organizations comply with key regulations such as PCI, HIPAA and FFIEC. Many of these regulations require organizations to implement two-factor authentication methods to verify users' identities when remotely connecting to a network.

To learn more and to view today's product release webinar (2 p.m. EDT), visit www.wave.com.

About Wave Systems
Wave Systems Corp. (NASDAQ: WAVX) reduces the complexity, cost and uncertainty of data protection and authentication by starting inside the device. Unlike other vendors who try to secure information by adding layers of software for security, Wave leverages the security capabilities built directly into endpoint computing platforms themselves. Wave has been a foremost expert on this growing trend, leading the way with first-to-market solutions and helping shape standards through its work as a board member for the Trusted Computing Group. 

Safe Harbor for Forward-Looking Statements
This press release may contain forward-looking information within the meaning of the Private Securities Litigation Reform Act of 1995 and Section 21E of the Securities Exchange Act of 1934, as amended (the Exchange Act), including all statements that are not statements of historical fact regarding the intent, belief or current expectations of the company, its directors or its officers with respect to, among other things: (i) the company's financing plans; (ii) trends affecting the company's financial condition or results of operations; (iii) the company's growth strategy and operating strategy; and (iv) the declaration and payment of dividends. The words "may," "would," "will," "expect," "estimate," "anticipate," "believe," "intend" and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the company's ability to control, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors. Wave assumes no duty to and does not undertake to update forward-looking statements.

All brands are the property of their respective owners.

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
DevOps at Cloud Expo, taking place Nov 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 19th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to wait for long dev...
IoT offers a value of almost $4 trillion to the manufacturing industry through platforms that can improve margins, optimize operations & drive high performance work teams. By using IoT technologies as a foundation, manufacturing customers are integrating worker safety with manufacturing systems, driving deep collaboration and utilizing analytics to exponentially increased per-unit margins. However, as Benoit Lheureux, the VP for Research at Gartner points out, “IoT project implementers often ...
Why do your mobile transformations need to happen today? Mobile is the strategy that enterprise transformation centers on to drive customer engagement. In his general session at @ThingsExpo, Roger Woods, Director, Mobile Product & Strategy – Adobe Marketing Cloud, covered key IoT and mobile trends that are forcing mobile transformation, key components of a solid mobile strategy and explored how brands are effectively driving mobile change throughout the enterprise.
In his keynote at 18th Cloud Expo, Andrew Keys, Co-Founder of ConsenSys Enterprise, provided an overview of the evolution of the Internet and the Database and the future of their combination – the Blockchain. Andrew Keys is Co-Founder of ConsenSys Enterprise. He comes to ConsenSys Enterprise with capital markets, technology and entrepreneurial experience. Previously, he worked for UBS investment bank in equities analysis. Later, he was responsible for the creation and distribution of life sett...
Video experiences should be unique and exciting! But that doesn’t mean you need to patch all the pieces yourself. Users demand rich and engaging experiences and new ways to connect with you. But creating robust video applications at scale can be complicated, time-consuming and expensive. In his session at @ThingsExpo, Zohar Babin, Vice President of Platform, Ecosystem and Community at Kaltura, will discuss how VPaaS enables you to move fast, creating scalable video experiences that reach your ...
SYS-CON Events announced today that Bsquare has been named “Silver Sponsor” of SYS-CON's @ThingsExpo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. For more than two decades, Bsquare has helped its customers extract business value from a broad array of physical assets by making them intelligent, connecting them, and using the data they generate to optimize business processes.
In his session at @ThingsExpo, Kausik Sridharabalan, founder and CTO of Pulzze Systems, Inc., will focus on key challenges in building an Internet of Things solution infrastructure. He will shed light on efficient ways of defining interactions within IoT solutions, leading to cost and time reduction. He will also introduce ways to handle data and how one can develop IoT solutions that are lean, flexible and configurable, thus making IoT infrastructure agile and scalable.
Businesses are struggling to manage the information flow and interactions between all of these new devices and things jumping on their network, and the apps and IT systems they control. The data businesses gather is only helpful if they can do something with it. In his session at @ThingsExpo, Chris Witeck, Principal Technology Strategist at Citrix, will discuss how different the impact of IoT will be for large businesses, expanding how IoT will allow large organizations to make their legacy ap...
Creating replica copies to tolerate a certain number of failures is easy, but very expensive at cloud-scale. Conventional RAID has lower overhead, but it is limited in the number of failures it can tolerate. And the management is like herding cats (overseeing capacity, rebuilds, migrations, and degraded performance). Download Slide Deck: ▸ Here In his general session at 18th Cloud Expo, Scott Cleland, Senior Director of Product Marketing for the HGST Cloud Infrastructure Business Unit, discusse...
In this strange new world where more and more power is drawn from business technology, companies are effectively straddling two paths on the road to innovation and transformation into digital enterprises. The first path is the heritage trail – with “legacy” technology forming the background. Here, extant technologies are transformed by core IT teams to provide more API-driven approaches. Legacy systems can restrict companies that are transitioning into digital enterprises. To truly become a lea...
There are several IoTs: the Industrial Internet, Consumer Wearables, Wearables and Healthcare, Supply Chains, and the movement toward Smart Grids, Cities, Regions, and Nations. There are competing communications standards every step of the way, a bewildering array of sensors and devices, and an entire world of competing data analytics platforms. To some this appears to be chaos. In this power panel at @ThingsExpo, moderated by Conference Chair Roger Strukhoff, Bradley Holt, Developer Advocate a...
24Notion is full-service global creative digital marketing, technology and lifestyle agency that combines strategic ideas with customized tactical execution. With a broad understand of the art of traditional marketing, new media, communications and social influence, 24Notion uniquely understands how to connect your brand strategy with the right consumer. 24Notion ranked #12 on Corporate Social Responsibility - Book of List.
Just over a week ago I received a long and loud sustained applause for a presentation I delivered at this year’s Cloud Expo in Santa Clara. I was extremely pleased with the turnout and had some very good conversations with many of the attendees. Over the next few days I had many more meaningful conversations and was not only happy with the results but also learned a few new things. Here is everything I learned in those three days distilled into three short points.
SYS-CON Events announced today that SoftLayer, an IBM Company, has been named “Gold Sponsor” of SYS-CON's 18th Cloud Expo, which will take place on June 7-9, 2016, at the Javits Center in New York, New York. SoftLayer, an IBM Company, provides cloud infrastructure as a service from a growing number of data centers and network points of presence around the world. SoftLayer’s customers range from Web startups to global enterprises.
Major trends and emerging technologies – from virtual reality and IoT, to Big Data and algorithms – are helping organizations innovate in the digital era. However, to create real business value, IT must think beyond the ‘what’ of digital transformation to the ‘how’ to harness emerging trends, innovation and disruption. Architecture is the key that underpins and ties all these efforts together. In the digital age, it’s important to invest in architecture, extend the enterprise footprint to the cl...