The bank has deployed PGP Universal Gateway Email to secure email with its customers and business partners, including financial services firms and regulatory institutions such as central banks
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It has also deployed PGP Universal Server to provide both centralised policy administration and key management through a single web-based console
Stéphane Detruiseux, of the bank's risk and security expertise group, said, "We discovered that our partners use solutions based on either the OpenPGP or S/MIME encryption standard. And if we used a compatible solution, we wouldn't have to send, receive, or install any public keys because the exchanges were automatic."
Other reasons for choosing PGP encryption were transparency to end users through gateway-to-gateway encryption and transfer integration with the bank's Lotus Notes platform for flagging specific emails for encryption and the ability to set email encryption policy based on content, sender and recipient, among other identifiers of confidential information.