RSA security’s solution implemented in a new e-payment system by the bank of Lithuania

January 28, 2002

We were the first in the post Soviet Union territory to implement RSA Security’s leading e-security solutions at Ukio bankas in Lithuania. 

RSA Security’s leading e-security solutions are fundamental part of the e-payment system implemented by Ukio Bankas in Lithuania, designed to facilitate the transfer of money between banks. Ukio Bankas has established Internet-based financial systems and electronic security policy in Lithuania. The new solution was implemented by RSA Security’s partner “Etronika”.

The chairman of Ukio Bankas council Liutauras Varanavicius believes that the increasing amount of information being shared among banks of different countries has resulted in the need to establish the most secure systems for e-payment available.

“I’m sure that now when we have implemented this e-payment security system, we will become one of the most secure banks in the world”, said Liutauras Varanavicius.

Liutauras Varanavicius is committed to developing the e-business strategy, which will enable Ukio Bankas to fulfill new projects due to the fact that this e-payment security solution recognized by the most respected financial institutions in the world has been put in place. Ukio Bankas works with both Eastern and Western partners.

“Etronika” has also created modern Internet Banking System “ETA Bankas” which already operates in Ukio Bankas.

The director of “Etronika” Kestutis Gardziulis says that the decision of Ukio Bankas to choose the security solution is on sound business knowledge.

“RSA Security is the most famous and reliable provider of electronic security software in the world. The algorithms created by RSA Security are the epitome of security and form the basis of the most widely deployed web-based applications in the world”, said Kestutis Gardziulis.

The project of Ukio Bankas is the first of such kind in the post Soviet Union territory and the first major reach by RSA Security into this region. More than 300 of most famous world financial institutions, among them are Deutsche Bank, Credit Suisse, BTV bank, entrust their e-payment security to RSA Security.

About Ukio Bankas
Ukio Bankas became Lithuania’s first commercial bank on the eve of the restoration of the independence of Lithuania in June 1989. Ever since its establishment Ukio Bankas has been seeking to fortify its position as a reliable bank open to new ideas. The purpose of the bank is to provide qualified classic and modern services to its clients and implement the principles of modern Western banking based on fair competition and transparent activity in the Lithuanian market. Ukio Bankas can be reached at www.ub.lt.

About “Etronika”
“Etronika” is recently established Lithuanian company, which designs comprehensive, flexible, complex, secure and fully integrated software for online business. The company entered the market with solid experience in banking IT, and has successfully brought to market Internet and mobile banking solutions which have been implemented in several Lithuanian banks. “Etronika” is RSA SecurWorld partner. “Etronika” can be reached at www.etronika.lt.

About RSA Security Inc.
RSA Security Inc., the most trusted name in e-security, helps organizations build secure, trusted foundations for e-business through its RSA SecurID® two-factor authentication, RSA ClearTrust® Web access management, RSA BSAFE® encryption and RSA Keon® digital certificate management product families. With approximately one billion RSA BSAFE-enabled applications in use worldwide, more than ten million RSA SecurID authentication users and almost 20 years of industry experience, RSA Security has the proven leadership and innovative technology to address the changing security needs of e-business and bring trust to the online economy. RSA Security can be reached at www.rsasecurity.com.

RSA Security press release

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