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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