SCOR Uses Sterci's 3SKey Solution for E-payment Instructions Signature
SCOR Paris Hub will use Sterci’s 3SKey solution to sign its electronic payment (e-payment) instructions (single euro payments area (SEPA), netting, international and forwarding instructions) from the beginning of April. The XML messages will be compliant with ISO 20022 and SEPA requirements.
3SKey is a SWIFT technology which allows corporates and financial institutions to sign and secure file transfers. To replace its ETEBAC protocol, SCOR has selected a solution incorporating the latest electronic signature technology to send XML files compliant with ISO 20022 and SEPA. Moreover the Sterci messaging platform is used by SCOR, a global reinsurance company, to generate all its SWIFT traffic from a central Hub.
In addition, the use of a cloud hosting model within the Sterci Service Bureau allows SCOR to rely on an existing service maintained by experts and avoid them to manage the technical complexity of financial networks. The implementation of the 3SKey is an innovative project through which Sterci has been in a position to demonstrate its project integration abilities and its SWIFT expertise.
SCOR project director, Laurent Guéraud, said: “The SWIFT 3SKey electronic signature implementation is the third step of the Sterci project which has allowed us to put in place SWIFTNet connectivity, a global reconciliation solution covering bank account reconciliation, foreign exchange trade confirmations and investment portfolios of our investment management company. We are also using the Sterci GTFrame product to translate internal file formats into SWIFT and SEPA file formats for the entire SCOR group.”