Vasco Data Securities (VDSI) announced today that the leading
Middle Eastern bank Arab Bank will enhance the security of its
new Internet Banking Service with VASCO's Digipass GO 3 and
VACMAN Controller. This comes just after Vasco's stock rose
12.5% just yesterday. Today it is trading up another
4%, quite the gain in just two days!
Arab Bank is ranked among the largest international financial
institutions, with a capital base of over USD 6.9 Billion and
Total Assets of USD 38.3 billion. Arab Bank has an unmatched
Global Arab branch network with 400 branches spanning 28
countries in 5 continents. The bank offers a variety of
products and services covering four major areas: Personal
Banking, Corporate and Investment Banking (CIB), AB Private
Banking and Treasury.
"We are happy to have an important bank like Arab Bank among
our customers," says Jan Valcke, VASCO's President & COO.
"With the current surge of Internet crime, we acclaim the
initiative of Arab bank to depend on VASCO's strong
authentication and putting the security of their clients
Arab Bank was established in 1930 and since its
inception has played a leading role in financing investment
and trade in the regions it operates,it has worked on
improving cooperation trade and investment within the
Middle East and North Africa region and the rest of the world.
Arab Bank has established branches in the Arab World and
major global financial centers with a giant branch network
spread out in 28 countries spanning five continents.
This is another huge win for Vasco Data Securities, they
have literally landed contracts with major banks all around
the world just this month! Earlier they announced a major
contract with Banks in Japan and Sweden and this kind of
global exposure will result in repeat customers worldwide
as consumers continue to demand better security for their
This year has been a rough one for Vasco Data Securities
stock holders, but I think as a long term investment Vasco
is a great opportunity, especially at these price levels...