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Trusted e-Commerce: What Does It Really Mean? Bath September 7 th 2000

Trusted e-Commerce: What Does It Really Mean? Bath September 7 th 2000. Agenda. Introduction to TrustMarque Trusted e-Commerce - what’s important How do we define the trust spectrum? The Building Blocks of Trust How TrustMarque’s solutions have helped. Introduction to TrustMarque.

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Trusted e-Commerce: What Does It Really Mean? Bath September 7 th 2000

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  1. Trusted e-Commerce: What Does It Really Mean? Bath September 7th 2000

  2. Agenda • Introduction to TrustMarque • Trusted e-Commerce - what’s important • How do we define the trust spectrum? • The Building Blocks of Trust • How TrustMarque’s solutions have helped

  3. Introduction to TrustMarque • Established in 1999 • Seven locations on five continents • More than 200 employees world-wide • Privately held - financial backing by the Royal Bank of Scotland/ NatWest Group • Revenues US$80+ million this year • A leading provider of Risk Management and Transactional trust based systems

  4. TrustMarque Mission “To be the world’s leading provider of trusted e-commerce solutions” • TrustMarque is a backbone trust infrastructure company which develops trust enabled solutions • Critical Internet infrastructure services

  5. So what is Trust? • Its intangible but is central to all e-Business success whether B2C or B2B • Trust encompasses: • Privacy • Security • Customer service • No Trust = No business • You can’t buy it out of a box • Trust is a combination of technology, services and business processes

  6. How Trust gets undermined

  7. How Trust gets undermined

  8. How Trust gets undermined

  9. ID Theft Becoming Public Fear No. 1 By Caroline E. Mayer and John SchwartzWashington Post Staff WritersThursday, July 13, 2000; Page E01 "The fear of identity theft has gripped the public as few consumer issues have,” Jodie Bernstein, director of the Federal Trade Commission's Bureau of Consumer Protection.

  10. Trusted e-Commerce - What’s Important? Consumer • To whom they are actually making advance payments • Anonymous transactions • Invisibility of store • Privacy and use of information • Business • Need to distinguish between legitimate shoppers and fraudulent users in real time • Identification: verification and authentication of new trading partners globally

  11. Trust and the Consumer

  12. The Impact • 64% of Net users have little faith that site operators wouldn’t misuses private information • Over 80% of net users are concerned about privacy online • Only 3% are always comfortable about providing credit card information • 53% of on-line shoppers are concerned about privacy and security • 20% of websites had detected unauthorised access–FBI • Visitor to buyer conversion rates only 1.8%

  13. I don’t trust ….. • Your security • The identity with whom I am doing business with • Your trading practices • What you do with my information • How you might abuse my details

  14. What Dynamics Drive Trust? • Fraud 12 times more online than offline - Gartner Interactive • Fear of Fraud is the #1 reason users decide against making online purchases - WebAssured Survey • 64% of online consumers are likely to trust a web site even with a privacy policy - Jupiter Communications • 25% of online orders not fulfilled properly • Online fraud could reach $60billion by 2005 - Meridian Research • 37% provide false information - Market Explorers (US) • User name and password offer inadequate protection • Trust in the real world is driven by relationships and personal connections

  15. What Consumers Want • Trust that the site keeps information private • The site offers a secure environment to purchase products • Site is technically reliable • The content is up to date • Products ordered are delivered in a timely fashion NOP Interactive on-line

  16. The Building Blocks of Trust - Consumer • Brand reputation • Site Interaction: • Ease of use, presentation, technology • Fulfilment • History of transactions • Privacy policies and disclosure • Seals of Approval – independent endorsement Source: Cheskin Research

  17. What Seal is Best?

  18. What do they communicate? Associate the web site with other parties: • Merchant level: • Mastercard, Visa, Amex • Process/procedures: • TrustUK, CaseTrust • Network/CA level: • Verisign, WebTrust • Technology: • IBM e-business mark • Methodolgies: • self assessment; independent review e.g. using accountants

  19. Trust and B2B, B2C Transactions

  20. B2B and B2C Trust Issues • Developing trust means minimising risk • User name and password easily broken • Identity theft key issue • Trust Infrastructures must be an integral part of e-business • No Trust = No Business • Prevention is better than cure!

  21. Identity theft • On the internet you can be anybody • Uses valid cards and identities • Easy to trap in the physical world • Ideal for digital products • It’s your son using your credit card

  22. The Tools are a Click Away!

  23. Credit Card Generators • Windows based software • Use “legitimate” BIN’s • Can generate 1000’s of VALID credit cards • Worldwide coverage • Anonymous • Ideal for digital products

  24. Trust: Our Business Backbone e-Merchant Enabling Risk Management Payment Systems Image Security Powerful Partner RBS/NatWest Group TRUST Global Infrastructure 24x7 Secure Servers ASP Solutions Advanced Tool Kits T.O.M SmartMerchant Leading Edge Technology e-Procurement TenderTrust SNAP Local Lease Strong Management Team

  25. Where TrustMarque Puts Trust into e-Commerce TENDERTRUST RISK GUARDIAN MARQUEIT LOCALLEASE TRUST SPECTRUM 'HARD' 'SOFT' ’MEDIUM' No digital certificate Risk management Software certificates Banking Strength Digital certificates One time, short term, Digital Certificates Rigorous authenticity Smart Cards USB Dongles Encryption OUTSOURCED REGISTRATION AUTHORITY Liability/Guarantees Compliance with Identrus and APACS ECPS Schemes Managed Service, Policy, Trusted Time, Procedures

  26. “Credit card fraud is growing and accounts for 25% of all on-line transactions. Credit card generators are freely available identity theft is common” How Trustworthy is the Transaction? RiskGuardian Helping e-merchants reduce credit card fraud • The most comprehensive system to intercept attempted fraud. • Platform independent. • User definable settings • Low cost • Plug & Play installation • Integration into core payment systems

  27. Protecting the Seal of Approval - MarqueIT • Useful for any organisation wishing to protect their logo • Logo fired onto site, locked to IP address and site • No copying of logo allowed • All activity tracked and recorded

  28. Protection using Triangulation

  29. TrustUK – In Action

  30. TrustUK - In Action

  31. TrustUK - Validation Window

  32. B2B Trust • How do you trust on-line business partners: • Who are you doing business with Solutions: • Digital certificates to ensure identity • Ratings service that assist in supplier evaluation • Sophisticated payment, risk management, insurance and inspection services to mitigate risk • Risk Protection insurance

  33. The Business Building Blocks of Trust Requires implementation of best business practices: Authentication, verification, confidentiality, transaction integrity Trust Procedures Applications Identity Checks Liability/Protection { Business Processes Trust Policies { Security Technology PKI Infrastructure

  34. Technical Skills, Expertise & Technology - People Hardware & 30% Software 10% Delivery & Operations Policy 25% 15% Procedures 20% PKI – More Than Technology!

  35. TenderTrust • The world’s first smart card digital certificate • Internet e-tendering solution • Franchise Program for other Banks/partners

  36. e.g. Credit Checking Certificates Cert. Revocation Time stamping Third Party Services TenderTrust Certification Provider TenderTrust Check identity & validity Carry out other services Alert ITT opportunity Publish Supplier Intranet ? Internet Deliver Tenders Prepare response Submitresponse Create ITT or RFP Purchaser

  37. Digital certificates and signatures held on TenderTrust smartcard Security • Developed to X509 banking strength by the Royal Bank of Scotland • Proven identity • Validity of certificate checked with every use • Irrefutable audit trail • Bank provides digital certificates, trusted time, CA/RA function • Secure storage of ITT’s and responses

  38. Summary • Trust is the backbone of e-commerce for both B2C and B2B markets • Consumers gain trust from many signals • B2B trust solutions can range from ‘soft’ to ‘hard’. Ideally they should be backed by digital certificates, which can range from medium to high strength. • For trust to be implemented it needs infrastructure that includes technology, processes and associated trust procedures and methodologies

  39. Trusted e-Commerce: It Matters! John Williams CEO TrustMarque International Limited drjohn@trustmarque.com

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