Media Release 20 - Austrade mission - FINAL.pdf (115.11 KB)

TrustDefender meets with global finance industry leaders in New York and London sponsored by Austrade

Sydney Australia, July 19, 2007 – Recently returned from an Australian Government sponsored financial services technology trade mission to the USA and UK, Australian company TrustDefender has identified significant opportunities in the world’s leading financial sectors of New York and London.  

Corporations and financial institutions in New York and London are struggling to meet the wide range of corporate governance and compliance guidelines that are placed upon them by regulatory authorities and governments, such as Anti-Money Laundering and Counter Terrorism Financing (KYC) legislation, Sarbanes Oxley, Basel II and FFIEC guidelines.

“This is a very significant worldwide issue and one that is exacerbated by the rapidly growing instances of online crime. There is a very real and urgent need for stronger security techniques that extend to mobile computing devices in order to reduce online fraud and to restore customer confidence in online transactions” commented TrustDefender CEO, Ted Egan.

Handpicked by the Australian trade commission (Austrade) as one of the seven most innovative Australian financial service technology companies suitable to showcase in the two largest financial service centres in the world – New York and London – TrustDefender was able to gain a firsthand insight into the growth trends in the banking, brokerage and securities industries.

There are currently some 8000+ banks and largely independent broking houses in the USA market alone. TrustDefender’s ability to help these organisations meet corporate governance, compliance and regulative requirements such as FFIEC and AML/CTF was recognised as being a key component was recognised as being a key feature that will be increasingly demanded by financial institutions worldwide

Similarly, online fraud is a huge issue in the UK market. Between January and June of this year over 5000 cases of online fraud were reported in the UK, compared to just 312 recorded in the first 6 months of 2005.

During the mission, TrustDefender demonstrated ‘live’ how financial institutions that deploy TrustDefender are able to extend security out to the customer and the device that the customer is using, thereby securing their transactions and protecting their private and confidential information before they input a password, ID, token or text message code. Similarly demonstrating to financial institutions the ability that TrustDefender provides them with to achieve greater audit and reporting capabilities that meet regulatory requirements.

“Not only did our involvement in the Australian trade mission enable us to validate and align our positioning for these overseas markets, but we were also able to engage with leading systems integrators and thought leaders. We have since been invited to contribute to the financial services technology consortium which will enable us to stay at the forefront of the industry,” Mr Egan commented.

“The Australian trade office Austrade was invaluable, both for the doors that it opened and the opportunities that it presented. We cannot say enough of the assistance and encouragement we received by all at Austrade which has resulted in a number of follow up projects for us, both in the US and UK,” he concluded.

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Consumers who want to try TrustDefender should visit www.trustdefender.com and download the free 21 day trial of the consumer solution from the online shop.

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For media information, contact:
Kerryn Nelson
Managing Director
Big Mouth Marketing Communications P/L
Ph: 03 9558 3122 / 0417 035 536
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About TrustDefender:
TrustDefender is the leading provider of ‘On Demand Endpoint Security Solutions’ to safeguard online business transactions. With its GAP protection, TrustDefender is able to guarantee the authenticity of a website. The secure lockdown, safe & secure mode, two factor authentication and the TrustedSurfing database complete the holistic security solution.

The secure policy engine allows online businesses to educate and enforce the compliance of a home user’s PC to their security policies. TrustDefender is the world’s first security solution which enables online businesses to integrate the home user’s PC into the overall security solution.

TrustDefender was founded in 2005 and is based in Sydney, Australia.

About the Austrade Mission:

The Austrade mission took Australian financial technology and solutions providers to New York and London in June 2007 to look at the growth trends in the banking, brokerage and securities industries in order to provide real opportunities for Australian technology providers.

The mission looked at and presented developments in e-security, disaster recovery, online and wireless banking, smart cards and technology and business process outsourcing.

The mission provided Australian companies with access to executives at New York and London financial services firms and other key market participants. The program consisted of individual and group sessions as well as an introductory session aimed at developing knowledge of the local market’s business and cultural setting.