Of Special Interest
- Financial wellness affects half of peoples’ mental or physical health, finds report
- Study finds traditional financial institutions embrace Fintech disruption
- Grass is greener for environmentally friendly businesses, finds Barclays
- Prospective homeowners would consider a 40-year mortgage to escape renting, finds Santander
- Millennials’ needs are changing the face of banking industry, says new report
- FS is putting consumer data at risk by failing to protect mobile apps, says Arxan
- A lack of belief in their ability holds 28% women back in work, says Cambridge & Counties
- ‘Which?’ reveals Scotland has lost over a third of its bank branches in eight years
- Next downturn unlikely to be as bad as 2008, according to S&P
- FCA reveals findings from first cryptoassets consumer research
- US consumers favour single mobile app for banking and payments
- Banks suffering major IT shutdowns every day, ‘Which?’ reveals
- The US will be a key offshore centre in 2019, says GlobalData
- Debit industry changes markedly in 10 years of the Debit Issuer Study
- UK's ‘Big Five’ face ‘too big to compete’ as small challengers secure stellar returns
- Banks as vulnerable now as before crash, says new study
- Leverage ratio a constant conundrum for European and US banks, says SNL
29th March 2011
BT launches managed secure messaging service
After a long build up BT has launched BT Managed Secure Messaging. It is available to all financial institutions and "allows the financial community to exchange messages securely, reliably and in a non-repudiable manner over BT private networks and the Internet for all of their business activities."
It is believed to meet all security requirements for banks, clearing houses security depositories etc. In addition to the security aspects BT is keen to emphasise that it can save money too. It argues that costs can be cut by increasing the automation of message processing, reducing messaging failures and the manual administrative expense of correcting them.
The service informs both parties when a message has been recieved and confirms that the message is correct. The service from the Radianz and Payments division used hardware at both end to control enctyption / decryption.
José Antonio Martinez, managing director of Radianz and Payments, BT said: "Data integrity, security and trust are major issues for financial institutions globally. Hackers aren't just trying to access financial institutions' data, they are trying to change it into new data which they might use to damage the targeted firm or seek financial gain. By combining the security and reliability of BT's managed network services, where we support the world's largest secure networked financial community, with Codel's Digital Notary service we can ensure 100 per cent data integrity across the whole financial supply chain."