Found a reference to CIBC in this release regarding Identrus. Went to the web site identrus.com and CIBC is a recent member to this impressive group working e-commerce technology.
Hadn't heard this before.
Monday April 12, 8:59 pm Eastern Time
Sanwa Bank says to join e-commerce venture
TOKYO, April 13 (Reuters) - Sanwa Bank Ltd said on Tuesday it would join a group of international banks in a London-based joint venture to develop an electronic identification and authorisation system for electronic commerce.
Named Identrus, the joint venture was formed on Monday with capital participants including Citibank, a banking arm of CitiGroup Inc (NYSE:C - news), Deutsche Bank AG (quote from Yahoo! UK & Ireland: DBKG.F), Barclays Bank, a unit of Barclays Plc (quote from Yahoo! UK & Ireland: BARC.L), Chase Manhattan Bank (NYSE:CMB - news), and the Canadian Imperial Bank of Commerce (Toronto:CM.TO - news), a Sanwa spokesman said.
The joint venture will develop an electronic authentication system to handle on-line commerce transactions via the Internet, he said.
Sanwa has not decided how much it will invest in the joint venture, the spokesman said.
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