Vasco Data Security Inc. said its Digipass authentication technology has been adopted by an on-line brokerage service in Belgium.
Cortal, a division of Artesia Banking Corp. in Brussels, chose the Digipass 300 security token with digital signature technology, to ensure that electronic transactions by users of its Cortal Street service are private and safe.
The Digipass technique "gives our customers the confidence to actively participate in Internet trading," said Cortal general manager Rudy Dupont. "Since we will be offering simultaneous access to multiple financial markets, our customers are excited about the trading possibilities provided by highly secure transactions."
Vasco, which has an affiliated company in Belgium, competes in the business of two-factor authentication, combining a personal identification code with a physical token.
Vasco, which recently settled patent litigation with competitor Security Dynamics Technologies Inc. of Bedford, Mass., increased first-quarter revenue by 65%, to $4.3 million. It had an operating loss of $416,000; half that amount was spent in nonrecurring legal costs.