Building a Blueprint for Success
To make global communications and eCommerce less risky and more cost-effective, IdenTrust relies on the PLOT (Policies, Legal Framework, Operations Hosting and Technology) Rule Set to provide a trusted blueprint for globally interoperable identity authentication. Recognized by major government and regulatory bodies, it is accepted in countries belonging to the World Trade Organization.
The PLOT blueprint ensures that identities are issued, validated and utilized in a standardized way inside and outside a financial institution, nationally and internationally. Thus, unlike other Public Key Infrastructure (PKI) based approaches, the PLOT covers all aspects of developing and deploying a Trust Infrastructure anywhere in the world.
Developed and adopted by global financial institutions, the IdenTrust PLOT contains more than 3,000 pages of comprehensive intellectual property regarding trusted identities. Leading financial institutions, traditionally responsible for trust brokering and who are heavily regulated, served as the original architects for this policy blueprint. As a result, the PLOT has the input and insight gained from financial institutions around the globe and is properly designed, compliant and complete. It is a rule set that financial institutions can rely upon to create trust!
Corporations and consumers using IdenTrust-enabled products and services from their financial institutions are immediately able to conduct internet-based activities, whether corporate trade or internet banking because IdenTrust digital credentials and signatures are legally binding in countries around the world. These digital credentials can be used to:
- Streamline the process of opening and maintaining multiple accounts across multiple institutions;
- Provide identity authentication for consumers using shared networks by using a digital certificate to authenticate and validate identity across multiple banks; and
- Rely upon a single, proven, trust infrastructure which supports and safeguards multi-party, multi-bank and cross-border transactions while satisfying a myriad of ever-changing regulations.
By conducting eCommerce based on the blueprint of the PLOT, corporations and consumers can effectively minimize the risks of online fraud and identity theft without having to invest in creating and maintaining their own trusted identity frameworks and operating policies.
The Definition of PLOT
PLOT is a combination of four (4) distinct elements that provide a comprehensive solution to risk management in digital transactions:
- Policies: Binding rules for issuance and interoperability
- Legal Framework: Approval to issue and rely upon identities globally with clear liability and dispute resolution
- Operations Hosting: A model for trusted, secure certificate issuance and management
- Technology: Technical standards for certificate issuance, storage and usage
Key Features of the PLOT Rule Set
- Only the total combination of the PLOT components (i.e., Policies, Legal Framework, Operations Hosting and Technology) provides a comprehensive solution to risk management in digital transactions.
- Policies and procedures developed and agreed to by financial institutions around the world provides a comprehensive approach to authenticating identities.
- IdenTrust identities are globally interoperable under uniform private contracts recognized in countries around the world. Other systems require public law for digital signatures to be effective.
- Customer agreements are valid, binding and enforceable in countries that comply with United Nations, World Trade Organization and FATF guidelines.
- IdenTrust delivers a complete, hosted environment to enable a full spectrum of trusted identity services.
Benefits of the PLOT Rule Set
The PLOT Rule Set:
- Defines a global standard for conducting eCommerce using a uniform trusted identity standard.
- Minimizes investments by financial institutions by alleviating the need to create and maintain individually separate legal frameworks and operating policies.
- Streamlines account opening, maintenance and compliance by enabling accounts to be opened and maintained in a standardized way across IdenTrust member banks; this eliminates paperwork and duplication by treasurers while ensuring regulatory compliance.
- Expedites electronic agreements by accelerating agreed upon terms for conducting business at all levels, whether commercial or consumer, using trusted identities to secure each transaction.
- Guarantees assurance for financial institutions, government agencies and leading corporations who rely on PLOT for trusted identities.
The PLOT Rule Set has allowed the legal and policy framework to be fully integrated with the technical and operational infrastructure, providing an integrated blueprint that is consistent and binding across borders. Financial institutions issuing digital signature from IdenTrust can rely on their acceptance around the globe to enable trusted eCommerce, minimize the time needed to expand corporate penetration into new markets and easing interoperability issues for consumers wanting to safely access an ever expanding list of services over the internet.
The IdenTrust PLOT has removed much of the risk and complexity from cross-border, electronic commerce, while making it more cost-effective for all participants.
For more information on the IdenTrust PLOT Rule Set or the Trust Network, please contact IdenTrust at Sales@IdenTrust.com or call 1 (866) 763-3346.