Midland Bank has placed an order with UK cryptography specialist Zergo to provide security for an electronic banking network.
Once the project is complete, the new service will allow users to electronically exchange financial information in complete confidence, according to the high street bank.
There are two critical security functions within Midland's new network - confidentiality and user authentication. Zergo will deliver products that will encrypt the data and attach digital signatures.
Phil Hickman, head of payment and cash management at Midland Bank, said: "Security is of critical importance to our customers so our ability to implement global business solutions with strong cryptography is paramount to ensuring their confidence."
Midland Bank is expected to start implementing Zergo?s cryptographic products from February next year. Both parties declined to comment on the size of the deal.
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