The Royal Bank of Scotland, Sanwa and Wells Fargo deploy security
foundation for transforming customers' B2B activities
NEW YORK, July 2, 2001 - Three more financial institutions on three
continents - The Royal Bank of Scotland, Sanwa and Wells Fargo - have
"gone live" in the Identrus™ LLC global trust system for
business-to-business Internet commerce. Their customers can now use
electronic identities called "Identrus Global IDs" to engage in secure
B2B commerce with a new level of trust in the integrity of their
The three financial institutions, plus four others that went live six
months ago, have completed extensive technology testing and business
process auditing to ensure the trustworthiness of their corporate
customers' Identrus Global IDs. Customers who obtain Identrus Global IDs
can now conclusively identify trading partners on the Internet, prove
their communications haven't changed in transit, and compile an
auditable record of their transactions.
The financial institutions will deploy a host of new applications that
take advantage of the identity trust that Identrus provides. These
applications include document signing, financial services for
e-marketplaces, foreign exchange management, Internet-based payments and
electronic bill payment and presentment (EBPP).
The Royal Bank of Scotland
The Royal Bank of Scotland went live in April with a digital signing
application that is accelerating the asset financing process and
delivering related workflow efficiencies for both customers and the
bank. The Lombard document signing system lets employees of Sixt
Kennings Ltd, a subsidiary of vehicle rental giant Sixt rent a car, sign
leasing documents online with Lombard, the asset finance arm of The
Royal Bank of Scotland Group. This document signing system eliminates
the time and trouble of traditional paperwork.
"Identrus digitizes the end-to-end leasing process, allowing us to
provide a more streamlined and efficient service, which gives customers
real-time access to information and ultimately boosts the management of
working capital," said Andy Ross, head of E-commerce and Internet for
The Royal Bank of Scotland. "Identrus facilitates the delivery of a
broad range of secure B2B Internet applications, providing members with
the opportunity to eliminate cumbersome paper-based processes, improve
customer services and generate new revenue streams."
The Royal Bank of Scotland will be extending the Lombard Document
Signing System to other bank businesses and customers, and is also
planning to use Identrus to provide secure e-mail, government filings
and electronic payments.
Sanwa Bank of Japan, as a commercial bank of UFJ Group, is participating
in the development of financial solutions for e-marketplaces. Corporate
customers will access Financial Gateway service, which will be provided
by UFJ Group. Financial Gateway will enable corporate customers to
identify trading partners, make payments, factor accounts receivable,
escrow funds and provide other financial services. These solutions will
help deliver the efficiencies long promised by e-marketplaces.
"Identrus gives our customers an integrated, cost-effective way to bring
more value to
e-marketplaces," said Yoshihiro Hashimoto, Sanwa's general manager of
Payment Strategies and Solutions Department. "Meanwhile, it gives us a
solid foundation for developing our expanding portfolio of
business-to-business e-commerce services."
Wells Fargo & Company, the first major financial services company in the
United States to launch Internet banking services in 1995, has gone live
with its WellsSecuresm Identrus Certificate Authority. Wells Fargo is
actively pursuing several initiatives using WellsSecure to secure the
e-commerce activities of its customers and to enable its own
applications to use Identrus Global IDs.
"With Wells Fargo going live with Identrus, we'll help drive the
Identrus initiative forward and enable our corporate and middle-market
customers to engage in e-commerce with trading partners with complete
confidence," said David J. Zuercher, executive vice president, Wells
Fargo International Group and chairman of Wells Fargo HSBC Trade Bank.
"Since markets are becoming increasingly global in nature, services such
as this will become critical components in facilitating reliable online
These three financial institutions join ABN AMRO Bank, Bank of America,
Deutsche Bank and HypoVereinsbank as Identrus financial institutions
that can issue Identrus Global IDs today. "Trusted Internet commerce is
quickly moving from Holy Grail to reality, and applications are coming
on line every day," said Identrus president and CEO Guy S. Tallent.
"Like the first seven companies to have telephones, these financial
institutions and their customers are participating in the early stages
of a profound transformation. The Internet is becoming the primary
medium for business, not just an alternative."
As the Internet's only global trust system, Identrus LLC for the first
time lets companies manage their business-to-business e-commerce risks
through a trusted relationship with their financial institution.
Identrus also eliminates the time, cost and complexity of building trust
relationships with customers and suppliers around the globe. The world's
most prominent financial institutions and technology companies are
deploying a growing number of applications for secure e-mail,
e-marketplaces, international trade, contract signing, online payments,
commercial banking and more on the open Identrus infrastructure. For
more information, please visit www.identrus.com
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