The IBM Zone Trusted Information Channel (ZTIC) (pronounced "stick") is a memory-stick sized device that plugs into a USB port on a PC and establishes a direct, secured connection with a Web site's server. This connection bypasses any malware on the PC that might intercept the transaction. The initial application is on-line banking, but I can imagine it being useful for lots of on-line transactions that need to be performed securely.
Here's a demonstration and explanation from IBM on YouTube:
We have a press release with more details: "MADE IN IBM LABS: IBM Research Unveils "Security-on-a-Stick" to Protect Consumers and Banks From Sophisticated Hacker Attacks."
This short article has some details about how the ZTIC works: "IBM develops ZTIC USB drive for secure banking transactions."