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AS DIGITAL TRANSFORMATION ACCELERATES, ENTRUST DATACARD BECOMES “ENTRUST”

Entrust name and identity reflect the critical need for trust at the heart of the digital transformation – and the centrality of Entrust’s innovation to secure a rapidly changing world

 

Entrust Datacard today announced a new brand identity and company name – Entrust. The move both continues the company’s enduring leadership and innovation in identity, payments, and data protection, and highlights Entrust’s position as a leader in developing the core technologies needed to keep the world moving safely.

“The global impact of the COVID-19 pandemic has shown us how critical digital transformation is in our daily lives,” said Todd Wilkinson, CEO of Entrust. “As consumers, we depend on digital technologies and security to do more than ever, whether it’s making purchases, crossing borders, accessing government services or logging into corporate networks. We are proud that some of the world’s largest governments, organizations and enterprises trust us to keep citizens, commerce and information moving safely. Making Entrust the foundation of our brand reflects how our technology and innovation are central to securing this ever-evolving world.”

The company was founded as Datacard Corporation in 1969, and acquired Entrust in 2013, becoming Entrust Datacard. Entrust today offers an unmatched breadth of solutions, including credential issuance, identity and data protection, and digital certificates and signing solutions.

 

Commitment to innovation and growth

In recent years, Entrust has expanded from its core physical credential issuance focus to build a robust digital security solution portfolio and market presence. In addition to a sustained long-term investment in R&D, the company has made a recent series of strategic acquisitions, including PKI providers Trustis and Safelayer, authentication provider SMS Passcode, and nCipher, the market leader in hardware security modules (HSMs).

As a result, Entrust has transformed into one of the world’s largest providers of digital security software, and the global leader in credential issuance solutions. The company is in a unique position to innovate and invest to meet the rising security and identity needs of its customers. Entrust is making significant R&D investments to bring to market new card issuance technology, secure cloud enablement and advancements to its authentication, digital signing, identity management and HSM solutions. The company recently launched its next-generation PKI platform, tailored to meet today’s rising “encrypt everything” demands amidst rising threats, and earlier this year introduced new solutions for passwordless authentication and digital onboarding.

With nearly $800M in annual revenue and 2,500 employees, Entrust is trusted by some of the world’s most demanding, compliance-driven institutions in finance, technology and government. The company provides sales and service in more than 150 countries through 50 offices and a global network of more than 1,000 technology and channel partners.

“Earning the benefits of digital transformation requires a foundation of trust. As identity, payment and data protection ecosystems become more complex and interconnected, trust enables the resiliency and scale needed to make our digital lives possible,” said Frank Dickson, Program VP, Cybersecurity Products, IDC. “Entrust began delivering trust in payment card solutions 50 years ago and has added breadth and depth to its trusted identity and data security solutions ever since. Thus, centering the brand on Entrust makes sense – it helps the market see the common thread of high-assurance trust-building technology that carries through all of its identity, payment and data protection solutions.”

 

A simplified, refreshed brand

Entrust’s new name and branding honors the company’s heritage as it looks ahead. Datacard will continue to be featured prominently as the product line name for the company’s high-volume card issuance solutions, and the company continues to invest and innovate in high-volume hardware, software, services and supplies. Similarly, while the nCipher name will transition to Entrust over time, the nShield product line name for its market-leading HSMs will be retained and become an Entrust product line.

The branding evolution includes a new logo, brand colors, website, tagline, and positioning that are tightly linked to Entrust’s focus on securing a rapidly changing world.

“In evolving our brand, we wanted to make our mission clear. We come to work every day with one thing in mind: delivering solutions that enable the highest level of trust in every interaction our customers facilitate. Enabling trust is our mission, our value proposition, and the focus of all the innovative technologies we continue to develop for clients worldwide,” said Karen Kaukol, Chief Marketing Officer, Entrust.

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GALA TECHNOLOGY SELECTS NUAPAY TO ENABLE OPEN BANKING PAYMENTS

Nuapay, powered by Sentenial, today announces it has been chosen by Gala Technology, a payment security solution specialist, to provide Open Banking payments to its partner network and direct merchants across multiple sectors including retail, hospitality, and financial services.

Gala Technology’s multi-award winning SOTpay ‘Pay-by-link’ solution simplifies PCI DSS requirements and protects merchants against the ever-growing risk of fraud by ensuring that the transactions are authenticated, shifting liability and often lowering acquiring processing costs. SOTpay’s integration with Nuapay’s Open Banking platform now enables them to process non-card payments.

Nuapay’s FCA-licenced Open Banking payments service enables Gala Technology’s partners and merchants to accept payments via any sales channel of choice, including telephone, web chat, SMS and social media. It can do this without requesting sensitive card data, which ensures SCA compliance and eliminates fraudulent chargebacks.

“The capabilities of Open Banking have become more apparent in 2020 as merchants have been forced to explore alternative contactless, mobile and ecom-friendly payment methods that can be accessed quickly and are lower in processing costs, due to a need to respond to change brought by Covid-19.” shares Nick Raper, Head of UK at Nuapay. “We’re thrilled to be working with Gala Technology, as we  have a shared drive to eradicate payment fraud. This partnership will help to increase widespread adoption of live bank transfer payments as SOTPay gives us an exceptional opportunity to demonstrate Open Banking payments’ usability and benefits to new audiences.”

Nuapay is one of the only PISPs which offers a fully inclusive open banking payment initiation, webhook notification and payment account solution; which quickens checkouts, speed-up access to cash flow, reduces processing costs, and enables full reconciliation and batch settlements of transactions. Gala Technology’s customers now have access to new payment innovation and will be able to perform refunds or make instant payouts.

 

Steven Jones, Commercial Director at Gala Technology, said: “We chose to work with Nuapay as their complete Account-2-Account payments capabilities and high customer service levels are unparalleled. Looking forward, Nuapay’s presence within the UK and Europe will greatly help us reach new clients and will extend our service offerings to existing clients too. Nuapay’s Open Banking payments solutions help us to provide a better service; in turn, the time, money and resources our customers save will enable them to focus on growing their businesses in a more profitable way.”

Nuapay’s PISP processor has a single connection to all major banks in the UK and a growing number of connections across Europe, ensuring that Gala Technology’s clients’ payments will be supported, no matter where their customers bank.

 

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THE EMBEDDED BENEFITS IN ESEF DIGITAL FINANCIAL REPORTING

The inclusion of a simple link delivers serious gains in transparency, trust and real time verifiability for the whole financial ecosystem. It’s another digital feather in the LEI’s hat, explains Stephan Wolf, CEO, Global LEI Foundation.

 

In a battle for significance, no other public facing business document can match the annual financial report. It is the document that a public corporation must, by law, publish to describe its operations and financial condition, and to chronicle its activities over the past twelve months. Shareholders, investors and the wider financial ecosystem make innumerable strategic and operational decisions based on its contents.

In today’s digital age, then, it is little surprise that the European Securities and Markets Authority (ESMA) has mandated that annual financial reports published from the start of 2020 follow a consistent digital configuration, known as the European Single Electronic Format (ESEF) and, in them, embed their Legal Entity Identifier (LEI).

Stephan Wolf

On first glance, the ESEF format appears to be designed to drive financial report production into a convenient paperless form factor. While this is both true and highly commendable, an ocean of additional potential is revealed by ESMA’s insistence that corporations embed their LEI. This mandate will heighten transparency, enhance trust, and provide instant and non-repudiable verification that the organisation filing the report is, indeed, who they claim to be. These far-reaching benefits are all enabled by the report linking to the filing entity’s verified LEI reference data held within the Global LEI Index.

The simple process of embedding an organization’s LEI  – or, indeed, that of its affiliates, subsidiaries and parent companies – within an ESEF financial report means that regulators, investors, traders and other financial stakeholders, can consolidate and verify information on the filing entity faster and more conveniently than ever before.

LEI reference data includes business card information on an entity, including name and registered address, together with relationship data which confirms if the entity owns, or is owned by, other entities. This increased transparency relative to an entity’s ownership structure means that relationship networks between LEIs can be quickly and automatically established, since the LEIs of the filing entity, its affiliates, subsidiaries and parent companies are all provided in the new machine-readable ESEF format. Usefully, because the reference data is reverified annually by GLEIF accredited LEI issuers, it is always accurate and up-to-date. The net result is a substantially more useful document for end users, which is also verifiably trustworthy, authentic and integral.

ESMA has published the Global LEI Foundation’s 2019 annual report on its website to provide a best practice example of a report published in the ESEF format, which other preparers can reference. The report is published in human and machine-readable Inline XBRL and HTML formats, with LEIs embedded within both the annual report and the digital certificates of the report’s signing executive officers. The combination of these two features provides something completely unprecedented: instantly available, digitally verifiable credentials that confirm both the authenticity of document and the key individuals responsible for its content.1

Beyond the single report, the LEI embedding process creates broader opportunities for the financial ecosystem. Aggregating information on companies from multiple sources is dramatically simplified, making the job of comparing standardized financial information both faster and easier. This can be accomplished either manually, by ‘clicking through’ to view the LEI reference data, or via an automated process, saving yet more time and eliminating the risk of human error. In time, this level of facility will lead to the automated creation of online databases that use the linked LEIs to collate key data assets, to the benefit of, frankly, any person or organization that has interest, globally.

The mandatory embedding of LEIs in financial reports is just one demonstration of this technology’s transformative potential. In broader terms, not only is the LEI shoring up the digital financial ecosystem, it is helping to stabilize the evolution of the world’s digital economy. It is no exaggeration to say that the LEI, together with the Global LEI System, solves the problem of trust for legal entities worldwide. It is the only open, commercially neutral, standardized and regulatory endorsed system capable of establishing digitized trust between all legal entitles, everywhere. It was conceived and designed as a public good, and can be deployed without charge in a wide – and growing – variety of digital use-cases. Put simply, the more it is utilized, the more good it will do.

 

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