IdenTrust and XRT team on financial data security

Source: IdenTrust

IdenTrust, a leader in trusted identity solutions, today announced a partnership with XRT, which provides treasury management solutions that cover the financial value chain.

This partnership is based on XRT Business Exchange, a Web-enabled solution that securely and dynamically exchanges financial data between a company's information systems and its banking and trading partners. XRT is enabling its customers to use IdenTrust certificates, delivering new levels of flexibility and trusted electronic communications to its corporate customers.

Starting in October 2007, XRT customers using XRT Business Exchange, which is designed for large and international groups, can leverage IdenTrust certificates to gain non-repudiation and liability limitation assurance, which is critical for corporate customers to minimize their exposure to risk. Additionally, IdenTrust's solutions help corporate users to create legally-compliant audit trails that include e-mail communications and attachments for specific applications. IdenTrust certificates will help to raise the level of trust assurance while simplifying authentication among participating XRT bank customers and automating many treasury workstation processes.

"Global-scale treasury management requires an added level of trusted communications with vetted customers, partners and suppliers," said Jean Beaufort, General Manager for XRT. "XRT plays an integral role in streamlining international transactions, and we have built our success by providing innovative solutions that help our global customers manage complex transactions easily and reliably. Our partnership with IdenTrust extends this commitment by delivering powerful new capabilities that validate and audit transactions across the globe, without incurring additional complexity."

For corporations, opening and maintaining bank accounts across multiple financial institutions and multiple currencies is cumbersome, time consuming and costly. Corporate treasury departments must use manual processes with their banks to change the signatories and delegation authority on multiple bank accounts. Variations in regulations across borders and the challenges of coordinating employees in multiple locations responsible for these actions add further complexity to the corporate treasury function. Using an IdenTrust bank-issued digital certificate - which is accepted across all member financial institutions and complies with TWIST standards - simplifies and accelerates treasury management. IdenTrust provides a legally interoperable infrastructure for authenticating and validating identities worldwide.

"Trusted, verified electronic commerce and communications underpin growth in today's global business economy," said Andrea Klein, Chief Marketing Officer for IdenTrust, Inc. "We look forward to working closely with XRT to deliver identity authentication solutions that seamlessly support international commerce and are legally recognized across the globe."

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