The globally prominent banks that formed a joint venture last fall in electronic commerce security have officially incorporated under the name Identrus.

Unveiling the name Monday, the New York-based group, which had been known informally as the global trust organization, also said two banks are in "advanced negotiations" to take ownership stakes.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.