The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site. Please see our Subscription Terms and Conditions.

All material subject to strictly enforced copyright laws. © 2021 Euromoney, a part of the Euromoney Institutional Investor PLC.
Foreign Exchange

Technology review 2010: Controlling fraud - Digital Indentities

One solution to person-not-present fraud when making a payment is the use of digital identity certificates (DIs) and signatures to verify an individual really is who (s)he claims to be and is authorized to make the transaction. DIs are already successfully used in a number of applications, for example, by companies in the UK for the approval of file transmissions to the local ACH, by the pharmaceutical industry in the US, and by the Norwegian ACH for its internet banking customers. But their use is not yet widespread.

The IdenTrust Trust Network is an example of the growing success of these schemes. It issues DIs through some 30 banks worldwide providing eSignatures to companies, ACHs, governments and banks, which are interoperable across geographies, industries, products and supply chains. IdenTrust has already issued 1 million DI certificates and is now experiencing considerable growth as businesses worldwide introduce higher levels of security. Citi’s new electronic banking system, Citi Direct BE, offers users the option to log on with its IdenTrust eSignature. IdenTrust multi-bank DI certificates can be used for signing on to all of a company’s electronic banking (EB) banks. The Trust Prime application, shown in Figure 2, is an example of how DI certificates can both help improve fraud control and streamline day-to-day corporate treasury department operations.

You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.


Unlimited access to and

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually


Unlimited access to and, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors


Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree