DigiCert Selected by ASC X9 to Provide Managed PKI Service Infrastructure for Financial Services Industry

ASC X9 is an ANSI-accredited standards organization dedicated to advancing interoperability and security within the financial services sector. Since joining X9 in 2018, DigiCert has been instrumental in leading a PKI Study Group to identify and address the specific needs of the financial community. With more than 30 potential PKI use cases identified and a comprehensive certificate policy developed, DigiCert and its partner, EONTI, are now set to implement a service that enables secure, interoperable communication for financial institutions globally.

The financial sector's historical usage of browser-managed certificates for scenarios beyond web servers continues to present challenges, as evidenced during the industry's transition from SHA-1 to SHA-2 hashing algorithms. During this transition, payment terminals faced interoperability issues when browsers ceased support for SHA-1 certificates, leaving many financial institutions struggling to adapt. By moving to a new and independent PKI, browsers and banks can each define their own PKIs in accordance with their specific trust and business needs.

The X9 public key infrastructure, operated by DigiCert, offers a dedicated PKI for the financial services industry, enabling secure communication without dependence on browser-based certificates. This infrastructure aims to avoid similar disruptions in the future while providing the flexibility and control financial institutions need.

Key Benefits of the X9 Root Certificate PKI

• Independence from Browser-Controlled PKI: Financial institutions gain control over their PKI without relying on certificates issued for browser use.
• Interoperability: Enables secure communication across financial institutions, including banks, ATM manufacturers, and other stakeholders, using a common root and policy.
• Security: The X9 Financial PKI offers legacy algorithms for backwards compatibility and post-quantum cryptography (PQC) for transitioning to the next generation of algorithms.
• Scalability: The infrastructure allows for cross-certification with the X9 root, ensuring that organizations with existing PKIs can integrate seamlessly.
• Global Adoption: While led by U.S.-based X9, this PKI is designed to attract financial companies worldwide.

"The financial services industry requires a secure and reliable infrastructure to meet its unique challenges," said X9 Executive Director, Steve Stevens. "DigiCert's expertise and proven leadership in PKI make the company the ideal partner to establish a dedicated root certificate and PKI for the financial sector. This initiative is a major step forward in enabling seamless and secure communication across institutions worldwide."

To execute the project, DigiCert is partnering with EONTI, a recognized specialist in PKI design and deployment. EONTI was instrumental in last year's selection of the "root of trust" for the Electric Vehicle charging industry, and their expertise will be invaluable in building the X9 root certificate infrastructure.