BNP Paribas is joining with identity authorization company IdenTrust, Inc., to provide its corporate banking customers with digital certificates to enable personal digital signatures for SWIFTNet FileAct payment files.
The new offering enables BNP Paribas’ corporate customers to have accountability down to the individual for financial transaction processes on a global, interoperable and non-repudiable basis.
“By enabling our corporate customers to utilize personal digital signatures for SWIFT transactions instead of a single corporate-level signature for payment files we provide them with enhanced visibility and control over their business transactions,” says Pierre Fersztand, head of cash management at BNP Paribas.
“IdenTrust offers an ideal platform for our corporate customers who conduct business around the world because it is SWIFT compatible and globally interoperable. IdenTrust digital certificates integrate fully with our global Cash Management offering. BNP Paribas is among the leading cash management players in the market and was one of the first banks to introduce SWIFTNet to corporate clients; this new decision strongly reinforces our commitment to SWIFTNet,” Fersztand adds.
SWIFTNet FileAct allows secure file transfers and is typically used to exchange batches of structured financial messages and large reports.
“Corporations require new levels of accountability and authentication as they increase their reliance on electronic transactions to conduct business around the globe. IdenTrust is pleased to work with BNP Paribas to deliver these expanded capabilities through our scalable and globally interoperable identity authentication solutions that allow identification at both the corporate and individual level,” says Joe Norburn, managing director for IdenTrust in EMEA.