HSBC is joining the IdenTrust network to provide a global and interoperable identity solution for a select set of key corporate customers.
HSBC will use 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 realising the potential of straight-through processing with digital signatures. 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,” says Marcus Treacher, head of e-Commerce, HSBC.
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 applications.
“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,” says Joe Norburn, managing director, EMEA for IdenTrust, Inc.