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NEW YORK, MARCH 13, 2003
Identrus Simplifies Identity Authentication Solutions for Financial Institutions to Help Accelerate B2B e-Commerce
Identrus Network Version 2.0 streamlines system documentation, reduces Participant liability and cuts overall cost of implementation.
NEW YORK, March 13, 2003 ń Identrus, LLC today announced Identrus Network Version 2.0, an evolution of its system documentation, policies and operating rules. With Network Version 2.0 participating Identrus financial institutions now have greater flexibility and choices in how they deploy and leverage the Identrus platform. Network Version 2.0 is especially compelling for financial institutions of all sizes, providing faster and more cost-effective alternatives to participate in the Identrus System.
Network Version 2.0 unbundles the roles of the Certificate Authority (CA) and Registration Authority (RA), and introduces the roles of the Issuer and Registrar to the Identrus rule set. The Issuer role will be required to meet CA requirements, while the Registrar role will need to meet the RA requirements within the Operating Rules. This enables banks to leverage the Identrus platform as RAs and effectively outsource the cost, complexity and liability associated with managing a CA on their own.
Network 2.0 also permits qualified parties, each designated as an Identrus‹ Affiliate to perform the Issuer (CA) role to manufacture and issue digital certificates on behalf of Participants that choose to outsource the CA function. Identrus Participants with deployed CAs can leverage their investment by offering CA services to other financial institutions and their correspondent banks.
"Network Version 2.0 is an evolution of the Identrus system documentation, designed to reduce cost and speed deployment of identity authentication solutions. This is an attractive advantage for financial institutions of all sizes, while greatly benefiting our current Participants," said Andrew McLauchlan, executive chairman for Identrus. "We developed Network Version 2.0 as a direct response to the needs of our Participant banks. We are providing alternatives to make it easier to for them to deploy and use the Identrus platform, enabling them to offer value-added, identity-assured solutions to their customers."
The impact of Network Version 2.0 is a more flexible Identrus rule-set that streamlines deployment of identity authentication services and provides new opportunities for Participant banks to leverage the Identrus infrastructure.
About Identrus
Identrus™ has established a regulated policy framework that provides the global standard for digital identity authentication. The Identrus platform provides the legal and technical infrastructure for financial institutions (FIs) and their customers to effectively manage the risks associated with identity authentication in digital transactions. Identrus identity credentials are scalable and interoperable supporting enterprise-level applications as well as domestic and international transactions. With Identrus, FIs can effectively manage key elements of Operational Risk associated with migrating business processes online. Identrus also has developed Eleanor™ the global e-payments initiation specification that enables FIs to build upon their existing payments systems, and Identrus trust services, to offer enhanced e-payments initiation services to their customers. Identrus membership consists of approximately 60 of the world's leading financial institutions spanning 160 countries. Additional information about the company is available at www.identrust.com.
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Tricia Yamagata
+1 415.486.2900
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