SAN FRANCISCO, January 22 /PRNewswire/ --
- Announcement Underscores HSBC's Commitment to Safeguarding Online Customer Transactions, Delivering Highest Level of Trust for Online Commerce
IdenTrust, Inc. today announced that HSBC, one of the world's largest banking and financial services organizations, is joining the IdenTrust network to provide a global and interoperable identity solution for a select set of key corporate customers. HSBC will leverage the IdenTrust framework to enable its customers to digitally sign payment files at the user-level to provide secure, non-repudiable and legally binding instructions to the bank. The IdenTrust approach simplifies the authentication process and streamlines the customer experience, since only one identity per user is needed to interact with all of a customer's banks.
"HSBC is committed to continually establishing new levels of excellence and ease of use for authenticating and validating our online customers, and to realizing the potential of straight-through processing with digital signatures," said Marcus Treacher, Head of e-Commerce, HSBC. "We continue to explore how proven capabilities, including IdenTrust's identity assurance solutions, can support HSBC's focus on expanding and simplifying global e-commerce."
HSBC is undertaking a series of customer implementations to demonstrate the scalability, interoperability and non-repudiation of user-level signing for corporate-to-bank and bank-to-corporate communications. Also, IdenTrust and HSBC are working closely together to identify additional opportunities across the bank where high-assurance identities can benefit customers, such as streamlining bank account management processes and trade finance services.
This initiative complements HSBC's existing activities in the standards world through UN/CEFACT, ISO and SWIFT. Collaboration in the core C2B space allows HSBC to focus on differentiating itself competitively through its global coverage and value added solutions.
"HSBC has a longstanding history of helping its customers advance the frontiers of global commerce and innovation," said Joe Norburn, Managing Director, EMEA for IdenTrust, Inc. "We look forward to demonstrating how IdenTrust solutions can provide the framework and scalability to support HSBC's authentication requirements and enhance trust for financial transactions. Our ability to provide an authentication solution that is interoperable, non-repudiable and valid in more than 100 countries is essential to HSBC, whose corporate clients conduct business around the globe."
HSBC Holdings plc
HSBC Holdings plc serves over 125 million customers worldwide through around 10,000 offices in 83 countries and territories in Europe, the Asia-Pacific region, the Americas, the Middle East and Africa. With assets of some US$2,150 billion at 30 June 2007, HSBC is one of the world's largest banking and financial services organisations. HSBC is marketed worldwide as "the world's local bank."
About IdenTrust
IdenTrust is a leader in trusted identity solutions, recognized by financial institutions, government agencies and businesses around the world. IdenTrust enables organizations to effectively manage the risks associated with identity authentication. The only bank-developed identity authentication system, IdenTrust provides a legally and technologically interoperable environment for authenticating and using identities worldwide. Customer agreements are valid, binding and enforceable in more than 175 countries. The IdenTrust Trust Infrastructure maintains the privacy of every transaction processed by reading only digital certificate information, not the message. http://www.identrust.com.
PR Contact: Mary Tobin O'Keeffe & Company +1-503-658-7396 mtobin@okco.com
Web site: http://www.identrust.com
Mary Tobin of O'Keeffe & Company, +1-503-658-7396, mtobin@okco.com, for IdenTrust, Inc.
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