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SWIFT’s 3SKey security solution added to Deutsche Telekom Accounting’s payments procedure

Deutsche Telekom Accounting has added the SWIFT 3SKey personal authentication and digital signature tool to its MultiCash solution, supported by Omikron.

The payments team at Deutsche Telekom Accounting’s international shared service centre (SSC) successfully implemented the device in its MultiCash transfer payment factory and tested the solution with the corporate’s main bank in France, in conjunction with the French version of the electronic banking internet communication standard (EBICS).

The 3SKey device was launched by SWIFT as part of its SWIFT for Corporates initiative. One main advantage is that SWIFT’s special position in the international banking community allows it to act as the certification authority for the underlying public key infrastructure (PKI).

Although this authentication solution is developed and marketed by SWIFT it is not linked to any one communication channel, enabling 3SKey to be used both with a SWIFT interface such as SWIFT Alliance Lite2 for submitting bulk payments via FileAct, and with other channels for secure corporate-bank communication. This has proved popular with leading French banks, which promote 3SKey as part of the new French EBICS communication standard, when the ‘TS’ (digital signature) variant is used for signing transactions.

The global roll-out of 3SKey has also started, guaranteeing the support of the banking community worldwide. Alongside the French and German EBICS-variants, 3SKey can be used with modular curved frame technology (MCFT), which is supported by over 200 banks across the world. "This international approach is a major plus for the MultiCash products,” commented Klaus Schuster, team head for international bank payments at Deutsche Telekom Accounting. “… We are then able to use the keys stored on the SWIFT 3SKey token for other banks in Europe or beyond, as and when we need to.”