Bancared, an electronic payments network for financial institutions and the central government of Guatemala has licensed RSA Keon Advanced PKI software, to support its ambitions to become a national Certification Authority.
Bancared says it plans to use the technology to provide the e-commerce and public key infrastructure security needed to support tax reporting and payment for major corporations in Guatemala.
"With RSA Keon software installed at Bancared, Guatemala will have a local institution that provides digital certificates, allowing 128-bit encryption for secure electronic transactions," says Otto Knoke, general manager of Bancared. "In the first phase of RSA Keon software deployment, our system is going to be targeted at major corporations. In our second phase, we intend to expand our secure electronic services to smaller companies and members from our affiliated partners."
Under the proposed infrastructure, Guatemalan corporations will request a digital certificate from Bancared, which will then send the request to the national tax agency. The administrator at the agency relies on RSA Keon Desktop software with a smart card to review and approve the information and the request. Once a request has been approved, Bancared issues a digital certificate, enabling corporations to securely send tax reports and payment transactions to the Superintendencia de Administracion Tributaria (SAT) over a private banking network.