IPSec, the Internet protocol security standard, has passed an interoperability test that bodes well for doing financial business over open networks, TimeStep Corp. announced.
TimeStep, a Canadian data security vendor, joined with eight other companies in a trial demonstrating secure business-to-business communications. The initiative was driven by the Automotive Industry Action Group's Automotive Network Exchange, an Internet-based electronic data interchange that began IPSec testing in March.
Tim Hember, president of TimeStep, called the test "a turning point in our industry." Noting that TimeStep built its Permit system to comply with IPSec, he said, "Now we've reached the first milestone. We are proud to be part of a team of industry leaders committed to worldwide secure communication."
The other participants were Checkpoint, Cisco, Entrust Technologies, FTP Software, Information Resource Engineering, Microsoft, Raptor, and Trusted Information Systems.