In a bold bid to mark out its Web 2.0 territory, BT is launching a new service that allows businesses to find and interact safely with customers through the internet, outside the security of their own internal IT frameworks.
In a bold bid to mark out its Web 2.0 territory, BT is launching a new service that allows businesses to find and interact safely with customers through the internet, outside the security of their own internal IT frameworks. Social networking for businesses can never become a reality without incorporating the security that business needs. This new revolutionary service, know as the ‘Federation Core', has two cornerstones of security; strong electronic identity - the necessary ground truth upon which all internet interactions must be based and ‘notarisation', provided by Codel - the use of an independent trusted third party to prove the integrity of transactions.
BT anticipates that nearly all paper-free, web-based financial services applications will eventually employ these two components and to demonstrate this are incorporating ‘FedCore' into two new applications as a collaboration with three of it's financial services customers. The first is a networking application for financial services known as ‘I-click' which features instant messaging, voice, conferencing and a document exchange. The second is an IP based trading platform for market traders known as Itrader. This features rapid, ‘notarised', trading channels such as instant messaging and financial market information ‘feeds' from all the established information providers to provide evidential support in the run up to a trade and to remove the compliance barriers to all-electronic trading platforms.
This is home ground for BT who has historically provided secure communications and directories to communities. The challenges have been to preserve the certainty of identity that existed historically with analogue communications, and also to secure the carried data in such a way that all users can verify that it is authentic. Supported by Codel's digital notary service, BT is meeting these challenges and believes that ‘FedCore' is set to revolutionise the way that financial services are delivered. Paper may really become a thing of the past!