Identrus and Twist seek interoperability

Identrus and Twist seek interoperability

Digital trust network Identrus has joined with corporate standards body Twist in an initiative to build interoperability across the two groups.

Identrus joins a core collective of other corporate, bank and vendor supporters of Twist as a sponsor member.

The closer relationship between the two bodies follows recent moves by Identrus to break away from its roots as a bank-owned network and offer services directly to corporate prospects. To this end, the utility closed on $20 million in new VC-led funding in July.

Karen Wendel, Identrus CEO, describes the affiliation with Twist as "key to our strategy".

She continues: "Along with our membership to Twist, we will integrate the Twist standards into the Indentrus Rule Set. This will allow interoperability between Twist and the Identrus community."

Tom Buschman, chairman of Twist, says Identrus' expertise in dealing with identity and liability issues will be increasingly important as the industry grapples with the implementation of new European directives such as Sepa and MiFID.

Identrus' courting of the corporate community comes as banking shareholders of financial messaging network Swift debate ways to ease network access for large corporate treasuries. The politically-sensitive issue has come to a head at the Swift convention in Copenhagen, where corporates have taken banks to task for being too slow to respond to their demands for cheaper and more integrated and flexible payments processing.

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