CardAssure Announces Name Change to ZNQ3, Develops New Identity Management Capability, and Targets Patient Privacy Software for Health Care Markets
CardAssure, a software authentication and identity management company based in Manchester, New Hampshire, announced today the extension of its technology capabilities from transaction authentication to identity verification and electronic records tracking in continuous open sessions.
In keeping with its broader product line and new authentication solutions for health care and other new markets, CardAssure also announced the change of its corporate and business name to ZNQ3 inc.
ZNQ3 President and co-Founder Jeff Stutzman heralded the development as a milestone for global business and consumers as well as for his company: โThis is good news for people and corporations worldwide. It is a fundamental human need to really know to whom we are communicating, and by extension, who has access to our electronic records. This extension of our software to identity management functionality means that ZNQ3 will be the first company to provide reliable strong authentication security at a realistic price.โ
The extension of ZNQ3′s software functionality to include identity management (IDM) solutions results from the company’s commitment to providing its customers with new technology to solve their needs, according to Tim Platt, a co-Founder and Executive Vice President, Business Alliances. โWe are committed to leading the market with reliable, secure, fast, and cost-effective identity solutions,โ Platt said. โOur customers and business partners have clearly targeted the need for an identity management software platform.โ
Competitive authentication technologies available today are more expensive and less secure, Platt explained, โbecause they pass private or personal information over the network to verify one’s identity. One of ZNQ3′s competitive advantages is that we do not need to exchange private information to confirm your identity.โ
ZNQ3, which was formerly known as CardAssure, simultaneously announced the launch of its program to serve the health care market with an integrated product, MedAssureโข, using the company’s new extended identity management technologies. Stutzman noted, โThe ability to integrate MedAssure into pre-existing medical solutions will save the medical IT community millions of dollars in development and procurement costs. MedAssure can be integrated seamlessly into any application or platform, and offers full authentication and tracking needs expected under the revised HIPAA rulings โ”at significantly lower implementation cost than existing products like PKI.โ
Jim McKee, the CFO and third co-Founder of ZNQ3, explained the rationale for authentication technology to serve the health care market: โPatient privacy and patient service both require that authorized medical providers have timely access to a patient’s electronic medical records, but that the records otherwise be kept confidential. Hospitals, doctors, nurses and insurance carriers also need to be able to track and confirm who has seen the records. No other product will reliably and cost-effectively meet this need, which is now mandated by federal law,โ McKee noted.
The ZNQ3 business model for its financial software authentication product, CardAssureโข, continues to gain wide acceptance among major players serving the financial payments industry. โWe are achieving steady progress toward our goal to create, build, market and integrate end-to-end solutions to make m-payments a reality,โ said Platt, who is also a principal of AreteCapital Group, an investment bank working closely with ZNQ3 on business and financial strategy. โOur mission in the financial space is to replace cash and checks with its payment systems as the most widely used consumer currency on the planet.โ In addition, Platt pointed out that ZNQ3 will now be able to offer authentication solutions to the following verticals beyond health care and financial services: news and content subscription; gaming and entertainment; and enterprise IDM/network applications.
The Company’s url address will remain www.cardassure.com until December 15, when work on a new ZNQ3 site should be completed.
Platt and McKee have just begun active discussions with targeted investors to raise approximately $3 million in the Company’s Series A round.
Contact:
Tim Platt, Co-Founder & EVP Business Alliances
603-625-0234
tplatt@cardassure.com
Author: Anonymous
Source: free-articles
Posted in Other
