Nordea launches trust and security-related services for business-to-business e-commerce

Nordea launches trust and security-related services for business-to- business e-commerce Nordea is the first Nordic bank to implement the Identrus global trust system, and the first bank to implement SWIFT's new TrustAct messaging and non-repudiation service. All messages via the service are signed and secured using digital certificates, time-stamped and logged. "The new services add cross-border capabilities to Nordea's current wide selection of Internet-based invoicing and payment services enabling Nordea's customers to trade globally in a secure way," says Pentti Mansukoski, Head of Cash Management, Nordea. "Lack of trust regarding both financial performance and verification of user identity have been among the biggest obstacles to the growth of global, Internet-based business-to-business trade. Following successful testing, Nordea will now provide these trust and security-related services in business-to- business e-commerce." The launch comes after the successful completion of a pilot test in cooperation with FishMarket, a leading market place for trade in seafood representing 10% of global seafood trade. Nordea uses SWIFT e-commerce services to enable FishMarket to offer its international members trusted auction services associated with immediate payment initiation and improved liquidity management. Identrus provides a system offering complete identity verification and messaging validation. This makes the trading process faster and more reliable, and will also facilitate the development of new financial services. For further information: Pentti Mansukoski, Head of Cash Management, +358 9 165 56586 Olli Kähkönen, Concept Manager Cash Management, +358 9 165 53246 www.nordea.com/cm www.identrus.com www.fishmarket.no ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2001/10/23/20011023BIT00530/bit0001.doc http://www.waymaker.net/bitonline/2001/10/23/20011023BIT00530/bit0001.pdf