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TOKYO, July 17, 2003
New Identrus CEO Outlines New Trust Solutions Strategy
Financial institutions now have greater flexibility and more choices in how they deploy and leverage the Identrus platform.
TOKYO, July 17, 2003 -- Karen J. Wendel, CEO of Identrus LLC announced plans that will provide Japanese financial institutions with easy-to-implement, cost-effective solutions using Identrus digital certificates. Ms. Wendel discussed Identrus' goals to evolve its system documentation, policies and operating rules to meet the needs of all financial institutions to deploy proven and secure online systems and services to their customers. Holding discussions with Identrus stakeholders in Japan, Ms. Wendel presented the Identrus system as a dependable digital identity authentication platform supporting Japanese business and government operating environments.
With recent modifications to the Identrus Rule Set such as the release of Identrus Network Version 2.1, Identrus offers financial institutions greater flexibility and choices in how they deploy and leverage the Identrus platform. Key to the Version 2.1 release is the addition of browser-based certificates that enable participating institutions to issue digital credentials in a faster, less expensive fashion, leveraging a customers' existing browser based interface. Building on Identrus Network Version 2.0 announced in March of this year, the new modifications in Version 2.1 address specific requests from several Identrus Participants that will enhance the Network for all Participating financial institutions.
Ms. Wendel also highlighted two major enhancements to the Identrus strategy. The first enhancement is a major commitment to the complete solutions that use Identrus certificates to solve business problems, not just to certificate issuance. "The first phase of Identrus' evolution was the creation of a completely secure trust network. We are now moving into the second stage of our company's life in that we must focus on giving our banks easy to implement, business-case driven solutions for their customers. Those solutions should use Identrus certificates in ways that deliver immediate cost reductions and revenue benefits, " said Ms. Wendel.
The second major enhancement is an expanded view of the Identrus approach to specific geographies. In its initial stages, Identrus was primarily focused on developing a trust scheme that would function effectively on a global basis. As the company has evolved, it has become increasingly clear that there are specific requirements unique to each geography and market. To respond to this need, Identrus is expanding the rule set to allow geography-specific versions of certificates to be issued. This will provide for greater interoperability and also increase the scope of areas where certificates can be used. Such an approach has particular applicability for certificates being issued by local governments, such as the government of Japan.
"We are committed to continually enhancing our offering and finding ways to meet the needs of our Participating financial institutions. We are specifically aware of the authentication needs that are driving Identrus momentum in the Japanese market," said Ms. Wendel. "We've made some immediate and timely changes to the Rule Set, and will continue to make updates such as the introduction of Identrus consumer certificates for retail banking customers by the end of this year."
Ms. Wendel discussed Identrus' plans in a joint press conference with UFJ Bank and Identrus Japan -- a joint venture between Identrus LLC and Nippon System Development. Also present at the press conference was Andrew McLauchlan, who was interim CEO of Identrus prior to Ms. Wendel's appointment, and is now the Chairman of the Identrus Board. Mr. McLauchlan was instrumental in the formation of Identrus Japan with Nippon System Development and is on the board of directors of Identrus Japan.
"It is no coincidence that we are back here in Japan to discuss our plans to evolve the Identrus Rule Set," said Mr. McLauchlan. "Japan represents a very important market for Identrus. In the near future, we anticipate other financial institutions in Japan and Asia will deploy Identrus services based on the model that Identrus Japan and UFJ Bank have established.
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 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, financial institutions 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 financial institutions 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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Schwartz Communications, Inc.
Rebecca Krueger
+1 415-512-0770
Identrust@schwartz-pr.com
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