Strong Marketing Team Resulted in Large Deals & Contracts
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From 10Q filed on 08/15/16
We are also seeking to license the technology as original equipment with computer hardware and software manufacturers . We are engaged in multiple production installations and pilot projects with various distributors, resellers and direct customers primarily in the United State.
“StrikeForce and its sales channel continue to sign new retail and enterprise contracts and pilots in 2016 .
Based on the FFIEC requirement , the latest Verizon Data Breach Report and the new articles from the White House:-) urging law firms and legal services firms to add two factor authentication , we have recently experienced a growing increase in pilots and sales orders and inquiries specifically in the financial and legal markets .
But the one industry where the technology seems to be catching on like wildfire is in e-commerce, says George Waller, director of product development at StrikeForce Technologies . He says his firm's Centralized Out-of-Band Authentication System, or COBAS, is being used by more than 8,000 credit card holders at one card company he declined to identify . And while new credit card firms are expected to sign on , Waller concedes he doesn't know how many unauthorized transactions were averted. "All we know is that there hasn't been any theft since using our system," he notes .
Waller claims COBAS is the market's only pure out-of-band authentication system. "It's simplistic sophistication all in one," he says, noting that it offers nine authentication methods , which can also be layered for greater security . Users are all relying on the phone/PIN application for credit card authorization. "We are all conditioned to use the phone. It's the most ubiquitous medium in the world," he says. "And when the phone rings and [the computer] asks, 'Will you authorize a $300 purchase at Barnes and Noble?' and you didn't, you can reject it and it won't go through. That's peace of mind. " No banks are yet live with the technology, but he says pilot programs are beginning with First Community Bank, Bank of New York and Bank of Tokyo; Chase and Citigroup are also considering testing the product.