GTE Issues SET Digital Certificates: Officials at GTE Corp., Stamford, Conn., said the company has issued the first operational digital certificates to comply with Secure Electronic Transaction protocol, the secure Internet payment standard approved by the credit card industry.
The CyberTrust digital certificates are being used by Wells Fargo Bank, San Francisco, to accept credit card transactions over the Internet. These certificates provide greater security to Wells Fargo by enabling merchants to positively identify themselves to the bank as legitimate business partners. In a release, officials at GTE also claim that Wells Fargo is the first financial institution to issue SET-compliant digital certificates for use in an operational payment system.
EDS to Focus on Global Banks: Electronic Data Systems Corp., Plano, Texas, has formed a new division to work exclusively with global banking institutions.
The Global Banking Division in New York will focus on increasing the international revenues from its Banking and Securities Group. Since entering the market three years ago, EDS has won several high-profile contracts. They include a $350 million outsourcing agreement with American Express Bank Ltd., New York, and a $250 million global desktop systems management contract with Citicorp, New York.
Andersen and AMP Team Up: Andersen Consulting, Chicago, and AMP, Sydney, Australia, are joining forces to create a business solutions organization.
AMP, Australia's largest financial institution, and Andersen, the global management and technology consulting organization, will jointly create a new organization, AMPlus, that will provide solutions to support AMP's financial services businesses.
Officials from the two behemoths say that this is the first time that a major institution and its partner have joined forces organizationally to implement change and share accountability for success in Australia.
Union Pacific Technologies and SAIC Partner: Union Pacific Technologies, St. Louis, and Science Applications International Corp., San Diego, have announced plans to form a partnership to develop information and telecommunications systems for railroads in Mexico and Latin America. The partnership will build upon UPT's existing Sicotra railroad management software product, which has served the government-owned railroad, Ferrocarriles Nacionales de Mexico, for four years.
- Matt Hines