3SKey makes its mark in Latin America
NEW YORK, June 25, 2012 ─ SWIFT, the financial messaging provider for more than 10,000 financial institutions and corporations in 210 countries, today announced that J.P. Morgan, BBVA and Santander are adopting 3SKey for authentication and digital signatures in Latin America. As the first banks to offer the solution within the region this development furthers SWIFT’s strategy to enable its customers to benefit from 3SKey on a global basis.
J.P. Morgan is leveraging the solution with a multitude of clients over their proprietary web portal to promote the corporate e-banking functionality. BBVA has already implemented 3SKey in several Latin American countries including: Argentina, Chile, Mexico, Colombia, Peru and Venezuela. Santander will offer 3SKey through their global portal for corporate clients.
Sean Croston, Executive Director, J.P. Morgan Treasury Services said: “We’ve observed our Latin American clients requesting a secure and simple way to manage multiple banking relationships and we are pleased to offer 3SKey as a solution for the region. By providing SWIFT’s single device for interoperable credential management, we are supplying our customers with improved efficiency.”
Ignacio Ybarra, Head of Global Transaction Services in BBVA, said: “By partnering with SWIFT to provide our Latin American clients with 3SKey we’re furthering our commitment to help build our customers’ business by offering increased control of their digital identity. We are now able to offer a secure and simple way to authenticate a myriad of transactions, saving our customers time while supplying peace of mind.”
Carlos Gutiérrez, Global Head of Cash Management at Santander Global Home & Markets said: “We perceive a significant increase in Corporate demand for SWIFT based communications with banks in an aim to simplify and standardize it. 3Skey is clearly another step towards the same goal but not necessarily through a Swift exchange. We are confident it will have a strong demand from our customer base.”
3SKey is a simplified signing mechanism for corporates and financial institutions. It secures the exchange of information in banking applications, enabling corporate users to manage their various banking relationships using a single, multi-network personal digital identity. This reduces the complexity of managing the ever-increasing number of devices and passwords needed to manage several accounts with multiple financial institutions.
Jairo Namur, Head of Latin America, SWIFT said: “The adoption of 3SKey by multiple financial institutions in Latin America demonstrates the region’s need for a secure and easy way to more effectively control e-banking identity. With more than 20,000 3SKey tokens being used worldwide, Latin American firms will be able to transact easily and securely with their banking partners around the globe.”
Today 3SKey is offered in more than 50 countries by 26 banking groups subscribed to the service, 45 application providers have integrated 3SKey into their solutions.
For more information about 3SKey visit or speak with your SWIFT representative.
BBVA is a customer-centric global financial services group founded in 1857. The Group has a solid position in Spain, it is the largest financial institution in Mexico and it has leading franchises in South America and the Sunbelt Region of the United States. Its diversified business is biased to high-growth markets and it relies on technology as a key sustainable competitive advantage. BBVA ranks among the leading Euro zone banks in terms of ROE and efficiency. Corporate responsibility is at the core of its business model. BBVA fosters financial education and inclusion, and supports research and culture. It operates with the highest integrity, a long-term vision and applies the best practices. The Group is present in the main sustainability indexes.
About J.P. Morgan Treasury Services
J.P. Morgan’s Treasury Services business is a full-service provider of innovative cash management, trade, liquidity and escrow services -- specifically developed to meet the challenges treasury professionals face today. More than 135,000 corporations, financial institutions, governments and municipalities in over 180 countries and territories entrust their business to J.P. Morgan. J.P. Morgan Treasury Services is one of the world's largest providers of treasury management services and a division of JPMorgan Chase Bank, N.A., member FDIC. More information can be found at .
About Banco Santander
Banco Santander (SAN.MC, STD.N, BNC.LN) is a retail and commercial bank, based in Spain, with a presence in 10 main markets. Santander is the largest bank in the euro zone and is among the top fifteen in the world by market capitalization. Founded in 1857, Santander had EUR 1.383 trillion in managed funds, more than 102 million customers, 14,760 branches – more than any other international bank – and 193,000 employees at the close of 2011. It is the largest financial group in Spain and Latin America. Furthermore, it has significant positions in the United Kingdom, Portugal, Germany, Poland and the U.S. northeast. Santander Consumer Finance operates in the Group’s core markets as well as in the Nordic region. In 2011, Grupo Santander registered EUR 7,021 million in recurring net profit.
SWIFT is a member-owned cooperative that provides the communications platform, products and services to connect more than 10,000 financial institutions and corporations in 210 countries. SWIFT enables its users to exchange automated, standardised financial information securely and reliably, thereby lowering costs, reducing operational risk and eliminating operational inefficiencies. SWIFT also brings the financial community together to work collaboratively to shape market practice, define standards and debate issues of mutual interest.
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