P&H Solutions: Financial Institutions Increasing Focus on Payments Security; Recent Fraud Incidents Stimulate Interest in Token Authentication Modules

NEWTON, Mass.--(BUSINESS WIRE)--May 17, 2005--P&H Solutions, the leader in providing business banking solutions to financial institutions throughout North America, has noted an increased interest in its Token Authentication modules designed to strengthen security for wire and ACH payments.

With Token Authentication, users enter a "dynamic", constantly changing password provided through a hand-held device, in addition to their memorized password when submitting a wire or ACH payment. Security experts widely agree that this added level of security greatly minimizes fraud risk for businesses and financial institutions.

“With more frequent incidents of computer fraud, identity theft, and computer viruses threatening transaction security, financial institutions are promoting additional transaction security features in order to retain and expand their competitive positions.”

According to Terry Monteith, SVP of Product, advanced security measures such as Token Authentication are becoming a necessary part of a financial institution's transaction security offering. "With more frequent incidents of computer fraud, identity theft, and computer viruses threatening transaction security, financial institutions are promoting additional transaction security features in order to retain and expand their competitive positions."

Also, "The renewed push for tighter security measures is not just coming from financial institutions. More and more businesses are turning to their financial institutions asking what they can do to stem the tide of fraudulent activity. P&H has always offered robust security and a rich entitlement structure, and the latest version of Web Cash Manager, release 7.2, adds even more entitlements for payments," says Monteith.

P&H Solutions partners with industry leaders Vasco and RSA Security to provide a pre-integrated, easy-to-deploy token authentication solution within P&H's Web Cash Manager Suite. Through its Storefront initiative, P&H has streamlined the process of implementing token authentication within its Web Cash Manager system. Token authentication is available for both in-house installations and for those financial institutions using the P&H Outsource Solution Center.

About P&H Web Cash Manager Suite

The P&H Web Cash Manager Suite is the industry-leading web-based corporate cash management system. It allows financial institutions of all sizes to uniquely package products and services for different markets, or even individual customers, from a single flexible platform. Financial institutions can choose from over 75 different modules designed for the smallest SOHO client up through the largest corporate client. The P&H Web Cash Manager Suite also provides an infrastructure for integrating other products and services offered by financial institutions.

About P&H Solutions

Since its founding in 1983, P&H Solutions has continually focused on the needs of financial institutions and their customers, with a strong commitment to helping financial institutions meet their strategic cash management objectives by delivering the most robust application suite in the industry. With over 150 financial institutions in production with its Web Cash Manager Suite, P&H Solutions is the market leader in adding demonstrative value to the business banking relationship. Industry analyst Celent Communications has ranked P&H Solutions as the number one cash management vendor for each of the last three years.

P&H Solutions customers include AmSouth, Citibank, City National Bank, J.P. Morgan Chase, Merrill Lynch, PNC, Sovereign Bank, and Wells Fargo, as well as hundreds of credit unions, community banks, savings banks, and regional financial institutions. P&H Solutions is headquartered in Newton, Massachusetts, with offices in nine other states. Additional information can be found at www.ph.com, or by calling 617-796-7700.

P&H and P&H Web Cash Manager Suite are trademarks of P&H Solutions, Inc.