IBS Journal January 2016


Deutsche Bank and Intesa Sanpaolo in Swift’s 3SKey projects


Intesa Sanpaolo has signed up for Swift’s 3SKey service to provide a single token for its corporate clients to communicate with the bank across all channels. Intesa Sanpaolo already uses Swift-


Net connectivity for corporates and has worked with a variety of corporate treas- uries and payment factories to exchange financial information through Swift. Stefano Favale, head of global


transaction banking at Intesa Sanpaolo Group, says: ‘Swift for corporates has considerable present and future poten- tial and Intesa Sanpaolo is willing to make all the necessary investment to ful- ly support clients who choose SwiftNet to streamline and automate payment processes.’ Erika Toso, head of South East


Europe, Swift, adds: ‘We now have 18 of our top 20 banks on the corporate access programme offering 3SKey to their cor- porate customers.’ Meanwhile, Deutsche Bank’s global


transaction banking division is extend- ing the use of Swift’s 3SKey service to provide a single token for customer authentication on its electronic service Autobahn App Market. The bank says Autobahn App Mar-


ket provides direct online access to its services in a single location, and also offers research, commentary and analyt- ics. Swift’s 3SKey is a multi-bank personal identity token using digital signatures and ‘strong authentication’. It can be used on any banking channel and allows corporates to log in to online banking applications and sign financial transac- tions sent to their banks using a single device. Michael Spiegel, global head of


trade finance and cash management corporates at Deutsche Bank, says it is ‘increasingly seeing new entrants – including non-banks – at different stag- es of the wholesale banking value chain’ and needs S3Key to maintain the ‘high-


Swift operating centre, Belgium © Swift


est security standards’. Deutsche Bank says individual iden-


tification for corporates using online banking has traditionally been done by multiple proprietary signature tools for each different bank. The access control can differ greatly


among banks, each using their own tools with varying levels of authentication and workflows. As treasurers often work with a large number of banks, they need to deal with many different authentication methods and passwords to login and authorise orders for online banking transactions. The bank says a ‘response to these challenges is Swift’s 3SKey’.


‘A very little key will open a very heavy door’


3SKey is described as a solution to sign


transactions and files at the level of corporate representatives – meaning multi-bank, multi-network (can be used on SwiftNet and bank proprietary chan- nels such as online services), multi-appli- cation and multi-country (for local and international bank relationships). Swift says 3SKey can typically be


adopted in the following segments: • Bank security channels for the replacement of proprietary authenti- cation/signing devices


• Multi-banked corporates that want to streamline signing process across applications and banks


• Banking communities that are looking for a market standard for personal signatures


• eBAM – Swift’s new solution for elec- tronic bank account management Antony Peyton


6


© IBS Intelligence 2016


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