Deutsche Bank said that its global transaction banking division is extending the use of SWIFT’s 3SKey service, so corporate clients have a complete single token service for secure customer authentication on its Autobahn App Market.
The German bank’s electronic offering was launched in 2012 and provides direct online access to its various services in a single location.
SWIFT’s 3SKey is a multi-bank personal identity token using digital signatures and strong authentication. It can be used on any banking channel and allows corporates to securely log in to online banking applications and sign financial transactions sent to their banks using a single device.
SWIFT said that 3SKey is a response to the challenges faced by treasurers in working with a large number of banks, requiring them to deal with many different authentication methods and passwords to login and authorise orders for online banking transactions.
“We are increasingly seeing new entrants – including non-banks – at different stages of the wholesale banking value chain,” said Michael Spiegel, global head of trade finance and cash management corporates at Deutsche Bank. “Offering market leading solutions and improving the corporate client experience is therefore key.”
A study by relocation firm Movinga rates the Irish capital as the best alternative location to London in an index rating 15 cities.
The sector is ready to overhaul its technology infrastructure to meet tougher regulatory obligations, reports Wolters Kluwer.
A report by UK daily The Guardian suggests that at least US$20bn and possibly quadruple that figure was moved out of Russia over four years to 2014.
The two partners said they will deliver a blockchain-based digital identity network for consumers to strengthen privacy and security for consumers.