Expectation-surge from corporate customers

Bo;

Implicit to each one of these requirements is the exchange of Data between two or more parties- invariably across industry boundaries, and/or across geographic boundaries, and/or across product-specific boundaries.

In order to be trusted and reliable,  that Data must have the benefits and properties of Privacy, of Authenticity, of Integrity and of Non-Repudiation.

Transaction Management arms of Banks have enormous opportunities to provide that required degree of Trust  and (electronic identity) Assurance- they uniquely "Know Their Customers" and are positioned to help their customers manage the implicit Operational Risk Management challenges which accompany each one of the requirements/innovations which this survey reveals. Indeed without the neccessary degree of Trust , Liability Management and Interoperability underpinning these requirements,  they will remain unfulfilled.  

Kind regards

John Bullard

John,

I agree.

Banks bring in a mega class trust contribution also into this business. The Economy of Trust created by a combination of (i) anti-money- laundering legislation banks in particular have to live up to anyway, (ii) strong e-id tools, (iii) strong procedures when these tools are attached to citizens in private and enterprise roles, (iv) strong privacy requirements, (v) strong security, (vi) e-id as a services, (vii) PKI-usage in payment network etc etc

This all serves to make it clear that it certainly is in the interest of society at large that banks do join in more widely than presently and that all bankers should realise that it is not only a question of increasing revenue by creating new customer value - but also to take responsibility for more competitive national and single market economies.

But then it is important to proceed with work on a network that all service providers can join - subject to living up to sufficient trust when identifying customers and storing necessary material and logs. Banks have the unfortunate role of always be blamed - collectively - when a couple of them fail and in this network it would again be a piece of cake for media to put the blame on banks when a weak link fails - be it a bank or a non-bank service provider.