Symantec Initiative at DEMO 07 Conference

Symantec Unveils Security 2.0 Identity Initiative at DEMO 07 Conference

Symantec Corp. will today unveil details of its new Identity Initiative at this year's prestigious DEMO technology conference. Symantec's Identity Initiative is a combination of services and software that addresses one of the most pressing problems facing consumers online today: managing their online identities and ensuring the security of online transactions. The initiative is the centerpiece of the company's Security 2.0 vision to protect consumers everywhere online.

"Our goal is to create a universally accepted identity system across all web sites-- from online financial institutions to retailers-- for millions of consumers," said Enrique Salem, Group President, Symantec Consumer Business Unit. "We have a strong base to build from, with almost half of our active Norton user base already enrolled in a basic Norton Account. We'll enable our millions of customers to extend the functionality of their Norton Account to manage all their information, all in one place."

The Norton Identity Client, which is a simple, single interface for consumers, is being shown at DEMO today. The client would provide consumers with online credentials and give them protected access anywhere they transact on the Internet. This online identity credential will be similar to how a passport or driver's license functions in the physical world; however, it could be modified as needed and accepted virtually everywhere.

"With increasing online activity and the rise in complex threats, consumers need an added level of protection," said Chris Shipley, Analyst and Executive Producer of DEMO. "Symantec's brand reputation makes it a logical company to build the critical mass for this new model, with the participation of both consumers and businesses."

In addition to solving a key need for consumers, the Symantec Identity Initiative addresses significant business concerns. In fact, 53 percent of Internet users have stopped giving personal information to websites in fear of identity theft and 14 percent have stopped paying bills online. With more secure identities and transactions, businesses will be better able to retain customers and reduce their own risk of fraud.

The cumulative market opportunity for online consumer authentication for banks, brokerages and e-commerce is estimated at $1.1B from 2006 through 2010 - Symantec.