The Commonwealth Bank of Australia (ASX:CBA) will roll out digital identities to its business customers to up their security while accessing selected online applications under a new deal with IdenTrust.
The five-year deal will allow selected CommBiz customers from the end of this year to optionally allow their transactions to be signed electronically, delivering legally-binding non-repudiation and fraud prevention
On top of the provision of authentication and electronic signature capabilities, IdenTrust will also provide certificate authority hosting services.
The Commonwealth Bank has also signed up to IdenTrust’s identity scheme which allows banks to issue a single digital identity to a customer which can be used with any web-based application and across any network in up to 175 countries.
In a statement, Commonwealth Bank group executive enterprise services and CIO Michael Harte said providing CommBiz customers with IdenTrust digital identities complemented the bank’s existing security features.
The move toward adopting digital identities was hinted at by the bank in September when it announced it was working to further upgrading its customer site, NetBank, to include enhanced security, advice on creating stronger passwords and customer verification tools.