The following press release is available in French and German. (PDF)
Sibos, Amsterdam, 26 October 2010 - SWIFT has launched a revolutionary digital identity solution called 3SKey. 3SKey secures the exchange of information in banking applications, thereby enabling corporate treasurers to manage their various banking relationships using a single, multi-network personal digital identity. This reduces the complexity of managing the ever-increasing number of tokens and passwords needed to administer multiple accounts with multiple financial institutions. The solution is now ready to be deployed and the initial focus will be to roll it out in Europe.
The solution replaces the proprietary infrastructures and solutions banks currently use, and provides both banks and corporates with a market standard for personal signatures. 3SKey is compatible with SWIFT’s new EBAM (Electronic Bank Account Management) solution. The launch follows a successful pilot in France involving major banks Société Générale, BNP Paribas, Crédit Agricole CIB, HSBC and BPCE, and several large companies including Danone, France Télécom and Airbus.
"3SKey provides corporates and banks with a single signing solution, thereby eliminating the need to invest in multiple proprietary infrastructures,” said Luc Meurant, Head of Banking, Supply Chain and Corporate Markets, SWIFT. “3SKey eliminates the complexity of having to manage and maintain multiple authentication methods. It also increases efficiency while reducing operational risks and costs."
Pierre Jalade, VP Treasury, Airbus SAS, said: "The successful 3SKey pilot has been for Airbus a great opportunity to validate the SWIFT certificate solution. I am fully convinced that 3SKey is setting the new industry wide standard for personal signatures. With 3SKey, SWIFT is certainly providing, to corporate treasurers operating in an international environment, the most appropriate answer to authentication requirements."
Martine Boutineau, Head of International Cash Management, Corporate Cash Management, Société Générale, said: "3SKey has helped us simplify time-consuming processes for our customers. The pilot confirmed that the banks and their corporate customers are willing to adopt the solution and create a standard for the financial industry in the digital identity space. We are already preparing to offer 3SKey to our Corporate users and not just on SWIFT but also on other networks in France."
About SWIFT
SWIFT is a member-owned cooperative that provides the communications platform, products and services to connect more than 9,000 banking organisations, securities institutions and corporate customers in 209 countries. SWIFT enables its users to exchange automated, standardised financial information securely and reliably, thereby lowering costs, reducing operational risk and eliminating operational inefficiencies. SWIFT also brings the financial community together to work collaboratively to shape market practice, define standards and debate issues of mutual interest.
For more information, please refer to our website www.swift.com or contact:
Fishburn Hedges
Dominic Weeks/Paul Farrow
+44 20 7839 4321
swift@fishburn-hedges.com