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A Thing Digital Identity Shows Real World Promise

Digital Identity Shows Real World Promise

Financial institutions can now issue TrustID certificates. The board of directors of the American Bankers Association (ABA) has approved the policy governing the issuance, use and management of TrustID digital certificates. Digital certificates, in this case TrustID digital certificates, serve as digital ID credentials, similar to a driver’s license or passport. The certificates are managed by Digital Signature Trust (DST).

The certificate policy sets a common infrastructure that governs the use of digital certificates between organizations and across industry lines. The ABA TrustID certificate policy allows for universally accepted digital certificates, similar to the policy infrastructure that supports the acceptance of credit cards, meaning that a single digital certificate could be used with multiple relying parties.

“This policy provides a basic foundation for the use of digital certificates, a foundation that provides trust in online transactions,” said Donald G. Ogilvie, ABA executive vice president.

“The acceptance of this policy by the ABA allows the financial services industry to fulfill its traditional role of enabling commerce,” said J. Scott Lowry, chief executive officer of DST. “Through the TrustID program this role will naturally extend into e-commerce and enable financial institutions to offer more online financial services, greater efficiencies, build customer relationships and generate new revenue.”

Digital Signature Trust is a certification authority (CA) services provider. Serving as a third-party, DST provides outsourced CA services. TrustID is the only “Universal Digital ID” in the market that enables people and organizations to use the same digital certificate everywhere because it is universally accepted and recognized.

The American Bankers Association includes community, regional and money center banks and bank holding companies, as well as savings associations, trust companies and savings banks. For more information visit www.abatrustid.com.

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