23 October 2015

Sumitomo Mitsui Banking Corporation chooses SWIFT’s 3SKey solution for global roll-out

Tokyo/Hong Kong - 23 October 2015 - SWIFT announces that Sumitomo Mitsui Banking Corporation (SMBC), one of Japanese leading multinational banks, will use 3SKey globally.

3SKey is a multi-bank and multi-channel solution for corporates to securely authenticate and approve operations using digital signatures and strong authentication. In addition to France where SMBC has been offering 3SKey to corporate customers since 2011, the bank will now offer the digital identity solution to its corporate customers in their global network starting with first implementations in the UK and Japan.

Airo Shibuya, General Manager, Global Transaction Banking Department, Sumitomo Mitsui Banking Corporation (SMBC): "We are working with both global and domestic customers on solving their challenges in transaction banking services. SMBC is at the forefront of being the transformation driver in the industry, we are further strengthening the controls with our corporate clients by offering advanced personal signature workflows with 3SKey. This new technology provides our customers an added layer of security on digital files transmission requiring personal digital signatures. We will use on our global systems in Japan and the UK first, this addresses the needs of the growing demand with our customers for such advanced security controls."

Stella Lim, Head of Corporate Sales, Asia Pacific, SWIFT said: "We have witnessed the evolution of 3SKey and its tremendous success with our customers in the past four years. While the initial demand for 3SKey was mainly from corporates in Europe, we are receiving increasing interest and seeing a strong take-up of 3SKey across all regions now. The ability to use a SWIFT 3SKey token with multiple banks for authentication and/or adding a personal digital signature to an electronic transaction is a very strong proposition to our corporate customers and banks alike. We are excited to see SMBC adopting 3SKey globally and further strengthening the multi-bank capability of the solution."

3SKey enables corporate users to ‘sign' transactions with multiple banks using a single personal digital signature token. It can be used on any banking channels (SWIFT, proprietary/domestic networks and e-banking web portals), and allows corporates to securely log into online banking applications and sign financial transactions sent to their banks using a single signing device. The solution took-off in France in 2011, and has now expanded to more than 110 geographies, driven by the growing influence of regulation, and an increasing focus on security and fraud prevention. Today 3SKey is offered by 41 banking groups and service providers to over 7,000 corporates in 113 countries.

For more information about 3SKey, visit http://corporates.swift.com/3skey/.

 

About Sumitomo Mitsui Banking Corporation (SMBC)
Sumitomo Mitsui Banking Corporation (SMBC) and its group companies offer a broad range of financial services centre on banking. They are also engaged in the leasing, securities, credit card, investment, mortgage securitization, venture capital and other credit related businesses.

About SWIFT for Corporates
SWIFT for Corporates offers a wide and growing range of products and services for multi-banked corporates to connect with banks and financial institutions through a single, secure and reliable channel. SWIFT provides corporate treasurers and finance managers global visibility on cash and trade, lower cost of financial transactions and improved security and reliability. SWIFT for Corporates also includes additional capabilities such as Bank Payment Obligation (BPO)/Trade Services Utility (TSU), 3SKey, SWIFTRef, MyStandards and Sanctions Screening. For more information, visit http://corporates.swift.com/

About SWIFT
SWIFT is a member-owned cooperative that provides the communications platform, products and services to connect more than 10,800 banking organisations, securities institutions and corporate customers in more than 200 countries and territories. 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, visit http://www.swift.com/ or follow us on Twitter: @swiftcommunity and LinkedIn: SWIFT

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