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SWIFT, the financial messaging provider for more than 9,700 financial institutions and corporations in 209 countries, confirms that one year on from its launch in Europe, the digital identity solution 3SKey (SWIFT Secure Signature Key) is already poised for global deployment. Building on the solid and successful early implementations in France, the number of major banks offering 3SKey continues to grow steadily, as does the number of users.
To date, more than 17,000 3SKey tokens have been distributed and there are 18 banks live, with many more in the pipeline. Some 35 application providers have integrated 3SKey into their solutions.
3SKey is a simplified signing mechanism for corporates and financial institutions. It secures the exchange of information in banking applications, enabling corporate treasurers to manage their various banking relationships using a single, multi-network personal digital identity. This reduces the complexity of managing the ever-increasing number of tokens and passwords needed to administer multiple accounts with multiple financial institutions.
Confirming the value of 3SKey, John Colleemallay, Director Group Treasury and Financing, Dassault Systèmes, says: “3SKey has many benefits for an international group like Dassault Systèmes. We currently use the solution daily to secure the ISO 20022 XML credit flows with our French banking partners. To benefit even further from the efficiency gained, we will extend the usage with our banks and branches worldwide in the coming months.”
Many international banks confirm that they are offering 3SKey worldwide to their corporate customers. For example, Charles Henry Dubarry de Lasalle, Head of Global Direct Channels, HSBC, says: “A single installation allows the 3SKey device to be deployed for use with HSBC and other banking partners. As a leading international bank, we are deploying 3SKey functionality in the 80 countries where HSBC offers cash management services.”
"Corporates and banks are benefiting from 3SKey as a single signing solution, which eliminates the need to invest in multiple proprietary infrastructures,” says Luc Meurant, Head of Banking, Supply Chain and Corporate Markets, SWIFT. “The strong uptake of 3SKey is being driven by the convenience and efficiency gains 3SKey makes possible, while also reducing operational risks.”
At Sibos in Toronto, there will be a demonstration of 3SKey on the SWIFT stand. There is also a 3SKey session on Tuesday 20 September in the SWIFT auditorium where banks, corporates and application vendors will share their experiences with the solution.
