Three more financial institutions 'go live' in Identrus global e-commerce trust system Thursday 5 July 2001 PDF Print 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 transactions. 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 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 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 trade." 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." About Identrus 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 Click on the link below to see this news release as it appears on the Brodeur News Room website and obtain full contact details. http://www.brodeurnewsroom.com/asp/release.asp?rid=1618&cid=... 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