iLumin and Digital Signature Trust Announce Strategic Alliance to Accelerate Closure of Automated, Enforceable Online Transactions.Business Editors/High-Tech Writers Fall Internet World 2000 Booth No. 577 NEW YORK--(BUSINESS WIRE)--Oct. 25, 2000 Combined Solution Includes Industry-Leading TrustID Digital Certificate Services and Digital Handshake Server Automated e-Business Application iLumin Corp. and Digital Signature Trust Co., an affiliate of Zions Bancorporation Zions Bancorporation (NASDAQ: ZION) is a member of the S&P 500, a bank holding company headquartered Salt Lake City, Utah. Its star subsidiary is NSB Public Finance. (Nasdaq: ZION), Wednesday announced a strategic alliance that will provide a pre-packaged suite of products and services for automated, enforceable online transactions (automated EOLT EOLT End-Of-Line Tester (manufacturing) EOLT Edisto Island Open Land Trust (South Carolina court case) EOLT End Of Lead Time ). This new bundled solution provides financial institutions and government agencies -- as well as traditional and e-businesses -- with a turnkey solution to move legal transactions, contracts, applications and documents from the world of pen-and-ink onto the Internet. Available Nov. 1 and distributed through both iLumin's and DST's worldwide sales forces and distribution channels, the solution includes the following key components: -- Digital Handshake Server(TM) the first fully automated technology solution that enables people to securely and privately complete legally binding transactions online. -- TrustID(R) digital certificate policy and contract infrastructure sponsored exclusively by the American Bankers Association, that provides the strongest framework for risk management and truly interoperable Internet identity credentials. -- TrustID digital certificates that guarantee the identity of individuals and businesses in online transactions. The suite also includes a variety of professional and technical services to help ensure successful deployment and integration. Organizations who purchase the solution can either act as registration authorities and issue TrustID certificates themselves or they can work with DST (1) (DeSTination) Contrast with SRC, which is an abbreviation of "source." (2) (Digital Signal Trust Company, Salt Lake City, UT, www.digsigtrust.com) An organization that sets up and manages PKI systems for companies and industry groups. to issue certificates to their customers. Once customers are armed with digital certificates, they can then use the Online Signing Room provided by Digital Handshake Server to close automated EOLT. Streamlines Deployment and Improves Adoption for e-Business Customers "This solution is designed to reduce the complexity and costs of deploying a trusted PKI (Public Key Infrastructure) A framework for creating a secure method for exchanging information based on public key cryptography. The foundation of a PKI is the certificate authority (CA), which issues digital certificates that authenticate the identity of solution and a PKI-empowered application for automated e-business," said Michael Plante, iLumin's vice president of channel marketing and business development. "By combining DST's leadership in trusted identity validation and authentication (1) Verifying the integrity of a transmitted message. See message integrity, e-mail authentication and MAC. (2) Verifying the identity of a user logging into a network. with iLumin's innovative solution for automating enforceable transactions, organizations can accelerate a wide variety of business processes using the most trusted, secure, and cost-effective technologies on the market today." "This alliance is a win-win solution for our customers," said Arthur Brady, senior vice president of sales and marketing at DST. "One of the biggest hurdles in the adoption of digital certificates is a useful e-business application for those certificates. Likewise, one of the biggest hurdles in the adoption of PKI-powered applications like Digital Handshake Server is the relatively low penetration of digital certificates. This new solution removes both hurdles in one step." Legislation The Electronic Signatures in Global and National Commerce Act The Electronic Signatures in Global and National Commerce Act (ESIGN, Pub.L. 106-229, 14 Stat. 464, enacted 2000-06-30, ) is a United States federal law passed by the U.S. (E-SIGN), which was signed into law on June 30, 2000 by President Clinton and became effective on Oct. 1, 2000, gives electronic or digital signatures the same legal weight as written signatures. Previously, although 46 U.S. states A U.S. state is any one of the fifty subnational entities of the United States, although four states use the official title "commonwealth". The separate state governments and the federal government share sovereignty, in that an American is a citizen both of the federal entity and had passed some type of electronic or digital signature legislation, individual state laws varied in scope and coverage, making e-commerce across state lines problematic. The new Federal E-SIGN Act serves as a bridge for the use of electronic or digital signatures in interstate commerce interstate commerce In the U.S., any commercial transaction or traffic that crosses state boundaries or that involves more than one state. Government regulation of interstate commerce is founded on the commerce clause of the Constitution (Article I, section 8), which and transactions across all 50 states. About TrustID TrustID certificates are the only Internet credential needed to complete trusted transactions over the Internet. TrustID certificates are the first certificates designed to be universally accepted and protected, and are the key ingredient that will revolutionize how the Internet is used to do business. TrustID certificates enable digital signatures, transaction integrity, authenticity, privacy and non-repudiation. TrustID certificates are sponsored exclusively by the American Bankers Association The American Bankers Association (ABA) is comprised of banks and other financial institutions. It seeks to promote the strength and profitability of the banking industry by Lobbying federal and state governments, building industry consensus on key issues, and providing products and , and are backed by the industry's leading warranty program. For more information on TrustID certificates visit http://www.digsigtrust.com. About Digital Handshake Server iLumin's Digital Handshake Server is the first fully automated technology solution that enables people to securely and privately complete a legally binding online transaction from start to finish. Digital Handshake Server is based on open standards Specifications for hardware and software that are developed by a standards organization or a consortium involved in supporting a standard. Available to the public for developing compliant products, open standards imply "open systems;" that an existing component in a system can be replaced , key-enabling and accepted technologies such as Java, digital signatures (PKI) such as TrustID and others, eXtensible Markup Language See XML. (language, text) Extensible Markup Language - (XML) An initiative from the W3C defining an "extremely simple" dialect of SGML suitable for use on the World-Wide Web. http://w3.org/XML/. (XML XML in full Extensible Markup Language. Markup language developed to be a simplified and more structural version of SGML. It incorporates features of HTML (e.g., hypertext linking), but is designed to overcome some of HTML's limitations. ) and Web-enabled applications. The three components of Digital Handshake Server'exclusive, patent-pending, architecture are: -- A highly secure Online Signing Room(TM) where authenticated au·then·ti·cate tr.v. au·then·ti·cat·ed, au·then·ti·cat·ing, au·then·ti·cates To establish the authenticity of; prove genuine: a specialist who authenticated the antique samovar. business participants can originate, review, modify, and digitally sign documents, thereby enabling all parties to rapidly and efficiently collaborate on, agree, sign, execute and close a transaction regardless of distance, location and/or time zones; -- A Digital Clerk(TM) that manages all the processes a clerk would do, such as time and date stamp Verb 1. date stamp - stamp with a date; "The package is dated November 24" date date - provide with a dateline; mark with a date; "She wrote the letter on Monday but she dated it Saturday so as not to reveal that she procrastinated" , collect fees, update databases, notarize no·ta·rize tr.v. no·ta·rized, no·ta·riz·ing, no·ta·riz·es To certify or attest to (the validity of a signature on a document, for example) as a notary public. and record or file digitally signed Any message or key that has been encrypted with a digital signature. When a user's public key is digitally signed by a certification authority (CA), it is known as a digital certificate or digital ID. See digital signature and digital certificate. documents. Digital Clerk automates transactions at the data-, document- and transaction-level, manages business-flow, and exchange of data between enterprise databases and other in-house IT systems. Digital Clerk also creates an audit trail known as a Digital Thumbprint(TM) a permanent record of all actions involved in a transaction; and -- An I-Cabinet(TM) where tamper-proof, electronic documents can be archived online, securely and privately retrieved, and reviewed and audited at any time by any of the transaction's participating parties. About Digital Signature Trust Digital Signature Trust (DST) is an affiliate of Zions Bancorporation and is the first licensed Certification Authority See CA. in the U.S. DST is an infrastructure provider for the digital certificate services market, and TrustID certificates are the first offering in the interoperable, risk-managed certificate category. DST understands that trust and confidence can only be derived from the quality of the management practices, policies, and procedures that an organization puts in place around its technology. Because DST is a subsidiary of a national bank it is subject to regulatory oversight and other stringent internal and external auditing requirements that provide the foundation for a level of trust and assurance that is unequaled by its technology-based PKI competitors. It is this foundation that makes DST's goal of creating the highest level of trust in the Internet truly unique. For more information, visit http://www.digsigtrust.com. About iLumin Corp. A privately held company privately held company A firm whose shares are held within a relatively small circle of owners and are not traded publicly. founded in 1996, iLumin Corp. is the first company to provide an open software system (a combination of PKI, XML and Java) that enables organizations to deliver automated enforceable online transactions (automated EOLT). iLumin removes the hassle of doing business by merging automation with enforceability. iLumin's Digital Handshake Server is the first technology infrastructure to bring together the Internet, enforceability, and automation at the data-, document- and transaction-levels. Digital Handshake Server enables people to securely and privately complete a legally binding online transaction from start to finish. Digital Handshake Server dramatically reduces the time, costs, inefficiencies and errors associated with today's labor-intensive transaction process. Industry firsts using iLumin technology include: first start to finish online home purchase, first deed of trust A document that embodies the agreement between a lender and a borrower to transfer an interest in the borrower's land to a neutral third party, a trustee, to secure the payment of a debt by the borrower. electronically recorded, first technology used to automate the entire court filing system, first piece of legislation signed electronically by Utah's Governor Leavitt, and first transaction completed under the E-SIGN legislation. The latter was an equity investment into a venture-backed company completed at 12:10 a.m. EDT EDT abbr. Eastern Daylight Time EDT Eastern Daylight Time EDT n abbr (US) (= Eastern Daylight Time) → hora de verano de Nueva York EDT Oct. 1, 2000. For more information, visit http://www.ilumin.com/. |
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