Cyber-Ark awarded two bank contracts

ING Direct and KeyCorp will use the technology to secure confidential information within their enterprises.

Cyber-Ark Software Inc. was recently awarded two contracts for its vaulting technology by KeyCorp and ING Direct. No value was disclosed.

ING Direct is one of eight direct banks operated globally by ING (NYSE: ING). ING Direct selected Cyber-Ark's technology to create a secure repository for key resources, and make them accessible enterprise-wide to the appropriate personnel.

Cleveland-based KeyCorp (NYSE: KEY) is one of the US's largest bank-based financial services companies. KeyCorp picked Cyber-Ark to protect, share and manage confidential information across its enterprise which consists of 20,000 employees.

KeyCorp said it plans to leverage Cyber-Ark's Vaulting Technology to provide secure storage and system access, adding that this will eliminate the need to build a customized solution from scratch.

Published by Globes [online] - www.globes.co.il - on December 10, 2003

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