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The Commonwealth Bank is the third Australian bank to join the IdenTrust identity scheme and will provide business customers with IdenTrust digital identities to deliver authentication and electronic signature capabilities for customers accessing selected online applications. The Commonwealth Bank has also awarded IdenTrust a 5 year contract for the provision of the Certificate Authority hosting services.
The IdenTrust identity scheme allows banks to issue a single digital identity to a customer that can be used with any web-based application, across any network in up to 175 countries around the world. The digital identities are fully interoperable with other banks that are members of the IdenTrust network. Such an approach provides Commonwealth Bank customers with an optional level of online security and allows transactions to be signed electronically, delivering legally-binding non-repudiation and fraud prevention.
Commonwealth Bank Group Executive and CIO Michael Harte, explained, "The CBA's online platforms are some of the highest transaction sites in the southern hemisphere and we are committed to continually enhancing the customer service experience. This latest service for customers complements our extensive suite of optional security features already available for CommBiz customers and will go live for select customers before the end of the year. "We are delighted to support the Commonwealth Bank. We look forward to providing identity solutions to enhance the services offered to the Bank's business customers," said Joe Norburn, Managing Director in EMEA & Asia Pacific for IdenTrust. Norburn continued, "The IdenTrust approach supports the Commonwealth Bank's reputation for innovation and service excellence and can scale and adapt to meet future requirements."
About Commonwealth Bank of Australia
The Commonwealth Bank is one of Australia's leading providers of integrated financial services including retail banking, premium banking, business banking, institutional banking, funds management, superannuation, insurance, and investment and sharebroking products and services. The Group is one of the largest listed companies on the Australian Stock Exchange and is included in the Morgan Stanley Capital Global Index.
About IdenTrust
IdenTrust is a leader in trusted identity solutions recognized by financial institutions, government agencies and businesses around the world. The only bank-developed identity authentication system, IdenTrust provides a legally and technologically interoperable environment for authenticating and using identities in more than 175 countries. IdenTrust enables end-users to have a single identity that can be used with any bank, any application, and across any network. IdenTrust identities are globally interoperable under uniform private contracts. For more information, visit www.identrust.com.
SOURCE IdenTrust Inc.
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