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Industries > Financial Services
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Business Challenges
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As financial institutions extend their roles as trusted intermediaries from the physical to the
online world and continue to expand their portfolios of Internet-based services, they face several
significant and ongoing challenges to their growth and competitiveness:
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A growing regulatory environment, from the BASEL II international capital accord to the FFIEC guidance on Internet banking authentication. |
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A rapid increase in the frequency and severity of online fraud, such as identity theft and phishing. |
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The need for efficient and cost-effective access to broad international networks, including a Trust infrastructure that supports cross-border transactions among multiple entities. |
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While these challenges are difficult enough for leading global financial institutions, they can be
outright daunting for smaller regional players, which generally lack the resources and affiliations
of their larger counterparts. To address these issues, many financial institutions have invested
millions of dollars in new systems and process improvements in order to grow revenues from online
services while increasing operational efficiencies. Unfortunately, these investments often fall
short of achieving the overriding goal: a uniform, fully accessible global infrastructure for
conducting business and delivering financial services to customers in a safe and efficient manner.
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Business Drivers
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In order to successfully conduct global, online business and enhance shareholder value, today's financial institutions are looking to achieve and constantly improve upon the following:
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Accelerated growth by acquiring smaller players and expanding into new lines-of-business and geographies. |
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Increased operating margins via optimization of human and capital resources. |
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Reduced risk by securing customer and financial information and ensuring full regulatory compliance. |
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IdenTrust Meets the Need for Trust
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To make Internet-based business and service delivery less risky and more cost effective,
the world's leading financial institutions established a global trust infrastructure: IdenTrust.
Based on the de facto standard policies of the IdenTrust™ PLOT, IdenTrust solutions enable
financial institutions to build online trust relationships more quickly, easily and cost
effectively with other financial institutions as well as with their corporate customers.
Financial institutions no longer have to contend with proprietary regional networks or
negotiate with individual governments or third-party intermediaries to conduct global
online business. Rather, they can deploy and rely upon a single, proven trust network
which supports and safeguards multi-party, cross-border transactions while satisfying
the myriad of ever-changing regulations. By working with IdenTrust, financial institutions
are able to:
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Increase revenue growth by launching new online services in new markets, while leveraging a uniform global standard for trusted identities. |
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Enhance productivity and profitability by automating and streamlining customer-oriented, online business processes. |
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Effectively manage and minimize the risk of identity theft and other forms of online fraud, while achieving compliance with all applicable regulations |
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IdenTrust provides limited liability in the event of repudiation because each member of the
IdenTrust network has entered into a contractual agreement that clearly outlines the
liability of each party. IdenTrust digital signatures ensure non-repudiation and
are legally binding worldwide through IdenTrust member institutions.
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Put IdenTrust to Work for Your Financial Institution
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