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.”
Data from Swift’s latest RMB tracker shows exceptional growth in RMB adoption in the United Arab Emirates (UAE), witnessing a 210.8% growth in payments value of the currency since August 2014, albeit from a low base.
SWIFT has announced that it has successfully completed the first phase of the global payments innovation (GPI) initiative pilot, clearing the way for the go-live of the service in early 2017.
The central bank has tweaked its stimulus programme and is making a fresh effort to push Japan’s inflation rate above its 2% target.
Despite faster payment technologies, business-to-business payments by paper cheque show no sign of decline from three years ago.