Computer Engineering Commons^™

Interoperable Credentials Management For Wholesale Banking, Glenn Benson, Shiu-Kai Chin, Sean Croston, Karthick Jayaraman, Susan Older

Electrical Engineering and Computer Science - All Scholarship

A gap exists between wholesale-banking business practices and security best practices: wholesale banks operate within the boundaries of contract law, while security best practices often relies upon a benevolent trusted party outside the scope of straightforward contracts. While some business domains may be able to bridge this gap, the ultra-high-value transactions used in business-to-business banking substantially increase the size of the gap. The gap becomes most apparent when regarded from the perspective of interoperability. If a single user applies the same credential to sign high-value transactions at multiple banks, then the trusted-party model becomes overly cumbersome and conflicts with an …