SunGard will integrate identity authentication functionality from IdenTrust, Inc., a trusted identity application provider, into its AvantGard Payments solution. Integration with IdenTrust’s software will help SunGard customers using AvantGard’s end-to-end payments processing solution to minimize their risk exposure, create legally-compliant audit trails and raise their level of confidence in data protection.
Using an IdenTrust bank-issued digital certificate which is accepted across all member financial institutions and complies with relevant industry standards simplifies and accelerates treasury management. The IdenTrust infrastructure maintains the privacy of every transaction processed by reading only digital certificate information, rather than the message itself. It creates an automated environment for non-repudiation and liability limitation assurance.
As a crucial link in the financial supply chain, the maintenance of bank accounts, mandates and signatures across multiple jurisdictions, locations, financial institutions and currencies is time consuming and costly. For corporate treasury departments, this creates the possibility for previously manual processes – changing signatories and assigning authority on multiple bank accounts – to be automated and integrated into the entire AvantGard Payments process.
“Today’s operational risks, including fraud and human error, are an ongoing obstacle in the cash management process,” says Joe Norburn, managing director for IdenTrust in EMEA. “Offering SunGard customers the ability to verify identity and boost trust in their financial institutions is fundamental to their future growth and success. We will be helping to increase their operational efficiency, providing access to all other businesses within the IdenTrust-approved community and opening new markets through secure e-commerce.”
“We are always looking for new ways to improve our solutions,” says Hans Cobben, group vice president for SunGard’s payments and messaging business. “By incorporating IdenTrust we are able to provide our customers with a globally proven payments processing solution with an added level of trusted communications between vetted parties across complex international transactions. We can deliver new capabilities that validate and audit transactions across the globe, without incurring additional complexity. It will help our customers actively manage their online risk.”
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