Deutsche Bank unlocks SWIFT authentication tool 04 December 2015Frankfurt Reporter: Stephanie Palmer
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Deutsche Bank’s global transaction banking (GTB) division is extending its use of SWIFT’s 3SKey to allow users to access its Autobahn App Market.
The SWIFT 3SKey is a single personal identity token offering secure customer authentication using digital signatures, and can be used across banks and any banking channel.
It allows corporate clients to log in to online banking applications and approve financial transactions, all using a single device.
Previously, this kind of identification relied on multiple proprietary signature tools for each bank, each with different tools and different levels of authentication.
The SWIFT 3SKey can help treasurers that work with a large number of banks, reducing the number of authentication methods required for authorising transactions.
Michael Spiegel, global head of trade finance and cash management for corporates at Deutsche Bank, said: “We are increasingly seeing new entrants – including non-banks – at different stages of the wholesale banking value chain. Offering market leading solutions and improving the corporate client experience is therefore key in maintaining our leading edge.”
“At the same time, through SWIFT 3SKey, we continue to meet the highest security standards.”
David Watson, Deutsche Bank’s global head of GTB cross-product components and regional head of product management in the Americas, added: “3SKey is an excellent example of SWIFT providing collaborative market solutions supporting robust security standards for confirming a person’s identity with a one bank-agnostic high-security device.”
“Supporting 3SKey allows us to leverage current industry trends and brings tangible benefits to our online clients. It is therefore a logical next step to extend 3SKey beyond SWIFT and EBICS France to our global Autobahn App Market, providing access to more than 180 applications across Deutsche Bank’s electronic products and services.”
André Casterman, global head of corporate and trade markets at SWIFT, said: “After a successful launch of 3SKey for personal signing of files in 2013, Deutsche Bank proves again its leadership in embracing SWIFT’s multi-banking solutions at a global level by extending their use of 3SKey to user authentication on their Autobahn App Market.”
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