Identrus, the Internet security company backed by leading banks, has launched a system enabling bank customers to complete large transactions online.
The system, launched by four banks including Bank of America and Deutsche Bank, is based around smart cards and electronic certificates to guarantee secure customer transactions over the Web.
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The fledgling global payments standard can be used for transactions between banks and their customers as well as companies using bank-run electronic marketplaces.
Banks of the Identrus scheme hope the scheme will become an industry standard for the increasingly competitive Internet payment market.
Deutsche Bank plans to introduce the Identrus system for all of its online products.