1. SafeNet ViewPIN+ Increase Profits, Prevent Fraud, Save Trees with Web-based PIN Issuance

2. Agenda  Market and Product Overview  Market drivers  Pros and cons of PIN issuance methodologies  Cost and security advantages  Who can benefit  Technical Overview  How does it work?  Product Portfolio Placement  Topography  ViewPIN+ Cardholder Experience  Business Case  Egg Banking PLC

3. Market & Product Overview

4. Market Drivers  Increased margin pressures  Security threats (external and Internal)  Globalization  Compliance

5. Market Drivers  Fact: The card and payment market is growing at approximately 10% a year WW & PIN mailers costs issuers millions  This means your cost is going to continue to rise.

6. Market Drivers  Fact: Hackers are becoming more sophisticated and identity theft makes up $45 billion of crime in U.S.  The cost per fraud increased 25%- $691/incident

7. Issues with traditional PIN issuance Method:Issues: Paper-based PIN mailers1)Delay in card usage 2)High cost 3)Highly insecure  Susceptible to angled-light attacks  Mail interception ATM PIN selection1)ATM susceptible to manipulation Interactive voice response1)Not easy to secure  Impossible to encrypt and travels over a public network http://business.timesonline.co.uk/tol/business/money/consumer_affairs/article4259009.ece

8. What is SafeNet ViewPIN+?  A secure, web-based solution to:  Issue PINs to cardholders;  Remind cardholders of their PIN;  Have cardholders change their PIN.  From any web browser, PC-based or mobile phone based.  In essence, it is a secure credential delivery mechanism.

9. SafeNet ViewPIN+ Key Advantages: Improves Profitability Increases cardholder Satisfaction More Secure Environmentally Responsible Proven Revolutionizing PIN Issuance the ONLY fully automated, secure web-based PIN issuance and management solution on the market that delivers unprecedented cardholder satisfaction and costs savings by eliminating expensive, insecure and time-consuming paper based PIN delivery to cardholders. 2008 Best Solution in Finance 2008 Best e- Transaction Solution finalist

10. SafeNet ViewPIN+ Improves Profitability Reduces operational costs, increases revenue, and saves resources for banks, credit card companies, and retail program-membership card issuers. Supporting facts:  Paper PIN issuance costs an upwards of $1.50 per mailer due to the cost of phone support staff, paper, postage, and mail processing  Egg the world’s first cardholder to use ViewPIN  Reduced the number of cardholder requests for PIN reissues  Reduced the number of card reissuance for blocked PIN  Completely eliminated costly mailers  By increasing the security around PIN issuance, they will actually be reducing the cost per incident of $691/incident *source Javelin Group 2008

11. SafeNet ViewPIN+ Increases Cardholder Satisfaction Easy to use and provides instant issuance of PIN at web browser to the end-user Supporting facts:  Cardholders conveniently retrieve a PIN for a newly issued card in a single web session.  Involves an intuitive web-interface for self-service PIN management  Enables instant PIN retrieval, card will be top of wallet. In contrast, delivery of PINs via mail takes an average of 10 days, which could be 10 purchasing days a cardholder is using a competitor’s card.

12. SafeNet ViewPIN+ More Secure Eliminates PIN-based fraud and far surpasses the security provided by paper-based PIN mailers or voice- based interactive systems Supporting facts:  Eliminates PIN based fraud because it exceeds the security  Even the most recent online systems, such as interactive voice response (IVR), cannot be secured.  The encryption technology behind SafeNet’s ViewPIN+ is trusted by the world’s largest banks, government defense departments as well as Fortune 1000 companies  ViewPIN+ complies with PCI DSS

13. SafeNet ViewPIN+ Environmentally Responsible An ecologically responsible alternative to sending PINs over the mail Supporting facts:  Financial services and payment providers make up over 3% of an individual’s carbon footprint.  Besides lowering operational costs, converting mailers from paper to digital will drastically help financial service providers reduce their carbon footprint, as well as promote their green image

14. SafeNet ViewPIN+ Proven SafeNet ViewPIN+ has been used by Egg for the last 4 years. It has a proven track record, a proven business case, and an exceptional availability. Supporting facts:  ViewPIN was originally developed in conjunction with Egg Banking. Since development, they have had 100% up-time  Awarded 2008 Network Product Guide’s Best Solution in Finance  Finalist for 2008 Sesame award for Best e-Transaction Solution

15. Who can benefit?  Retail and commercial banking,  Wealth management,  Card issuers,  Large retailers that issue cards,  Mobile payments and GSM phone operators, and  Any organization that needs to issue credentials frequently.

16. Technical Overview

17. How Does It Work?  Uses the cardholder's desktop as a secure PIN delivery endpoint  Provides an end-to-end encrypted transaction through a secured web banking session.  Maintains separation between the cardholder identity and the PIN to protect against compromise.  Moves the PINs through internal systems without risk of staff access  Provides real time delivery of PINs  Integrates with PIN storage platform

18. Typical ViewPIN+ Deployment

19. ViewPIN+ Cardholder Experience  Cardholder enters bank web portal  Cardholder logs into bank account  Cardholder requests PIN  Cardholder retrieves PIN

20. ViewPIN+ Cardholder Experience  cardholder enters bank web portal  cardholder logs into bank account  cardholder requests PIN  cardholder retrieves PIN

21. ViewPIN+ Cardholder Experience  cardholder enters bank web portal  cardholder logs into bank account  cardholder requests PIN  cardholder retrieves PIN

22. ViewPIN+ Cardholder Experience  cardholder enters bank web portal  cardholder logs into bank account  cardholder requests PIN  cardholder retrieves PIN  … all in a matter of seconds− securely!

23. Egg Case Study

24. Egg Bank selects SafeNet  Challenge  The world’s largest online bank.  Wanted to send PINs efficiently, securely, and in a manner to improve the overall cardholder experience  Needed a way to allow cardholders to securely obtain pins over the Internet  Traditional paper-based system was costly and posed risk  Solution  SafeNet ViewPIN+ for secure PIN issuance, which is secured by SafeNet Luna SP Hardware Security Module (HSM)  Benefits  Quick implementation that improved cardholder experience and provided Egg with a major competitive advantage  Improved profitability by reducing postage and PIN mailer expenditures, as well as cardholders were able to use their cards for purchases quicker  Secure PIN issuance solutions reduced the occurrence of credit card fraud from stolen PIN mailers “Roll out of the Chip and PIN project has proven extremely beneficial to Egg, offering us a secure alternative to PIN mailers which is both cost effective and cardholder friendly,” Egg’s Lead Security Architect Stuart Horler