Microsoft has unleashed its worldwide online secure banking solution which employs 128-bit encryption technology. The U.S. government previously limited exportable financial data software to 64-bit encryption. Earlier this year MS obtained a U.S. Dept. of Commerce license to issue 128-bit digital certificates and to deploy its âServer Gated Cryptoâ online banking solution internationally. More than twenty major international banks have indicated they will use the MS âSGCâ solution, including Wells Fargo, Bankers Trust Australia and Inverlat of Mexico. âSGCâ is an extension of the âSSLâ security protocol and enables a bankâs server to switch on 128-bit encryption if the proper digital certificate is available.
! Microsoft also started shipping its âInternet Finance Serverâ toolkit, formerly code-named âMarbleâ Tuesday. More than 70 financial institutions have agreed to implement the toolkit including CoreStates, Paine Webber and Wells Fargo. The toolkit will be integrated with existing legacy systems and will enable customers to execute transactions over the Internet using âOpen Financial Exchangeâ-based clients.