Identrus and Swift to provide trust-based payments platform

Identrus and Swift to provide trust-based payments platform

Identrus and Swift have formed an alliance to provide financial institutions with the ability to provide their corporate customers with trusted messaging and certification services over the Internet.

Identrus has created a worldwide Identity Trust service delivered via banks and financial institutions that certify their corporate customers as trusted trading partners on the Internet under uniform rules, contracts and business practices.

The Identrus/Swift solution aligns Identrus' trust model with Swift's new Internet-based messaging service, TrustAct.

TrustAct enables banks to provide secure delivery and receipt of messages that corporates exchange on the Internet. In addition, TrustAct keeps a secure, consolidated log of corporate-to-corporate messages to provide non-repudiation of message delivery. This data, together with Identrus' non-repudiation of digital signatures, is essential for audit or dispute resolution purposes.

"This joint solution puts the global banking community at the centre of trust for e-commerce, building 100 percent on the existing relationships between banks and their corporate customers. It will provide an ideal platform to deliver additional e-trust services like ability to pay, payment authorisation and creditworthiness" says Jaap Kamp, senior EVP of ABN AMRO and chairman of Swift.

An operational pilot of the combined offering is scheduled for year-end, and the live solution will be made available to corporate customers through their own financial institution throughout 2001.

Comments: (0)

sponsored

sponsored

Trending