Aladdin and IdenTrust to Fortify e-Banking
Aladdin eToken, the USB-based authentication solutions provider announced a partnership with IdenTrust, which offers identity solution globally for banks and financial institutions.
IdenTrust possesses the global bank-centric identity network, to provide identity authentication solutions for secure online banking and financial transactions.
The companies have teamed up to offer certificate-based two-factor authentication security to enable financial organizations in the US, Europe and Asia to implement next-generation technology in the fields of e-commerce, fight identity theft, and to drive revenue.
They will develop joint initiatives to drive future innovation and expand the options available for secure net banking and other industries requiring globally interoperable certificate-based transactions.
Aladdin eToken PRO is certified by IdenTrust to be compliant with the IdenTrust Rule Set, which offers a standards-based approach for identity authentication and validation developed by the global financial services community and accepted across 175 countries, according to a press release.
The set delivers an interoperable framework that enables regulatory compliance for high-assurance identities which are legally binding and universally applicable for all electronic transactions forms.
“IdenTrust is partnering with Aladdin to complement our bank-issued identity credentials, providing high-quality and robust smartcard technology that financial institutions and their customers can trust,” said Karen Wendel, CEO of IdenTrust.
According to the press release, IdenTrust validates the identity associated with the transaction, but not the data associated with the transaction - preserving the integrity and confidentiality of transmitted data.
Online banking conducted while authenticated with the Aladdin-IdenTrust solution is encrypted, making data inaccessible to unauthorized persons as well as eliminating phishing and man-in-the-middle attacks. Secure digital signatures authorize electronic documents, emails and transactions to the same level of legal protection as traditional ink-and-paper signatures, the released said.
Combining authentication, encryption and digital signing, the Aladdin-IdenTrust solution assists organizations in complying with a multitude of regulatory requirements including Sarbanes-Oxley (SOX), HIPAA, PCI, and FFIEC initiatives for Anti-Money Laundering (AML) and Know Your Customer (KYC).
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