Financial messaging provider SWIFT has revealed that Société Générale (SocGen) is committed to migrating its UK corporate customer base to its digital identity solution, 3SKey.
SocGen is already using 3SKey extensively in France to enable corporate customers there to digitally sign files of payments sent to the bank over a variety of channels. The bank is now additionally leveraging the solution to provide secure login authentication for its UK corporate customers that access the bank’s international cash management services via its proprietary web banking portal, Sogecash Web.
We wanted to strengthen the security around our web banking portal and chose SWIFT’s 3SKey solution because it represented the most robust, secure, and cost-efficient solution for our customers,” said Eric Bayle, head of corporate cash management for SocGen in the UK. “We were also keen to simplify the user experience for our corporate users and moving from a bank proprietary solution to a universal, multi-bank, multi-network digital identity solution represented a significant step towards that goal.”
3SKey is a simplified authentication and signing mechanism for corporates and financial institutions. It can be used to authenticate a user logging into a web portal as well as to digitally sign transactions and files. It therefore enables corporate users to manage their various banking relationships using a single, multi-network personal digital identity. This reduces the complexity of managing the ever-increasing number of devices and passwords needed to operate several accounts with multiple financial institutions.
Currently 3SKey is offered in more than 50 countries, with 26 banking groups subscribing to the service, and 45 application providers have integrated 3SKey into their solutions.
However, a London summit on the industry’s introduction of the technology cautions that testing and acceptance are still at an early stage and firms should proceed with caution.
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