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Symantec Corp.

Product Name

Symantec Identity Initiative

Market Segment

Consumer

Funding

Internally funded

Competitors

No established direct competitors. Companies developing related solutions in this space include Microsoft (with CardSpace), OpenID and Sxip Identity. Our competitors for our current consumer product lines include McAfee, Trend and Microsoft.

Product Description

Symantec’s Identity Initiative is a user-centric solution that will enable consumers to securely use their identity online and assert facts about themselves without fear of compromise. This solution, which works across multiple platforms and technologies, will enable multi-factor authentication of individuals and businesses—ultimately driving more convenience and assurance of a variety of types of information—from credit cards to reputation and memberships. The initiative includes a back-end platform and a desktop Identity Client.

Market Opportunity

First Analysis Securities Corporation forecasts the cumulative opportunity for consumer authentication in banks, brokerages and e-commerce at $1.1 billion from 2006 through 2010. The opportunity will pick up considerably in 2008 and beyond.

Demo Says

Identity theft and fraud are the cancer of electronic, Internet-based businesses, costing individuals, retailers and institutions millions each year. Still, few of us do even basic things to protect our identities and few transactions authenticate buyer and seller in anything but the most basic ways. Symantec steps into this void as a trusted broker authenticating the consumer and validating the transacting site to insure an honest transaction. This is no easy task and requires trust bonds and transparent practices among all parties. Symantec is one of a very few companies that has the influence, reputation and gravitas to pull this off and provide an end-to-end identity management solution. As their identity security platform rolls out this year, the Internet will become a safer place to conduct business.