CIBC launches outsourced corporate PKI service

CIBC launches outsourced corporate PKI service

Canadian Imperial Bank of Commerce (CIBC) has introduced a one-stop PKI security solution for enterprises wanting to outsource their authentication and verification needs.

The VeriSign-affiliated service enables enterprises, B2B exchanges and government agencies to authenticate the identity, corporate affiliation, purchasing privileges, age and other attributes of buyers, suppliers and consumers conducting transactions online, says CIBC.

"This new solution from CIBC makes the issuing of digital certificates a seamless process so our customers can focus on what counts most - their core businesses," says Peter Ricciardi, president of the Internet trust services business unit of CIBC. "We take care of every step - from confirming that each user is indeed in good standing to issuing the actual digital certificate."

The service features a range of authentication options, including automated checks against public and proprietary data sources, manual verification of enrollment information and personal presence validation.

After the authentication procedure is complete, CIBC issues a digital certificate to the end-user, which binds his or her identity and other attribute information such as organisational affiliation into a tamper-proof electronic credential.

"Authentication is the foundation to creating trust in the digital world," adds Ricciardi. "People need to know one another before they begin doing business or sharing sensitive information. In the bricks-and-mortar world, they rely on physical credentials such as business licenses to prove they are who they say they are. These credentials need to be mirrored in the online world. CIBC's authentication services assure organisations that these credentials have been validated by a trusted third party."

To promote the service, CIBC is offering potential users a low-cost pilot programme, including the issuance of up to 100 digital certificates, and a five-day intensive PKI Discovery Programme designed to demonstrate how PKI can improve business models and enhance the bottom line.

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