Swift, the financial messaging provider for more than 10,000 financial institutions and corporations in 212 countries, announced today that Societe Generale has committed to migrating its UK corporate customer base to 3SKey, SWIFT's digital identity solution.
Societe Generale is already using 3SKey extensively in France to enable its corporate customers there to digitally sign files of payments sent to the bank over a variety of channels. The bank is now additionally leveraging the solution to provide secure login authentication for its corporate customers in the UK, that access the bank's international cash management services via its proprietary web banking portal, Sogecash Web.
"We wanted to strengthen the security around our web banking portal and chose SWIFT's 3SKey solution because it represented the most robust, secure, and cost-efficient solution for our customers," says Eric Bayle, Head of Corporate Cash Management for Societe Generale in the UK. "We were also keen to simplify the user experience for our corporate users and moving from a bank proprietary solution to a universal, multi-bank, multi-network digital identity solution represented a significant step towards that goal"
3SKey is a simplified authentication and signing mechanism for corporates and financial institutions. It can be used to authenticate a user logging into a web portal as well as to digitally sign transactions and files. It therefore enables corporate users to manage their various banking relationships using a single, multi-network personal digital identity. This reduces the complexity of managing the ever-increasing number of devices and passwords needed to operate several accounts with multiple financial institutions.
"As a customer of Societe Generale London, we have welcomed the adoption of 3SKey. The changeover was quick and trouble-free and the administration of the certificates is proving much simpler and easier than with our previous provider. There have also been no issues with system or software compatibility" comments Nathalie Bot, Financial Controller at Africa Express Line Ltd, a British registered shipping company specialising in routes between Europe and West Africa.
Alain Raes, Chief Executive, EMEA, SWIFT, adds: "This move by Societe Generale in the UK is further evidence of the success of 3SKey as a multi-bank, multi-network, multi-country digital identity solution. It is especially pleasing that the solution is now not only being used in France where it was first piloted, but is gaining ever stronger momentum throughout Europe and the rest of the world."
Today 3SKey is offered in more than 50 countries by 26 banking groups subscribed to the service, and 45 application providers have integrated 3SKey into their solutions.