Irish firm plays key role in net software deal

Software firm Microsoft has announced a deal involving an Irish company to provide banks with equipment designed to make their Internet transactions ultra secure.

The technology, which works in the Windows 2000 operating system, is designed to allow banks to be sure of whom they’re dealing with on the Internet. It matches a security framework designed by Identrus, an alliance of 150 of the world’s largest banks.

The deal involves Microsoft, Unisys of Blue Bell, Pennsylvania, and Baltimore Technologies, based in Dublin, with its US headquarters in Boston. Baltimore is providing its Public Key Infrastructure security system and Unisys is providing help using the system.

Banks and businesses have long worried that insufficient Internet security could dampen Internet commerce. While Microsoft is not offering any new product, it and its partners are offering the ability to match Identrus’ specifications with a single purchase.

Previously, communications between businesses could be performed over the Internet, but businesses often resorted to completing deals by overnight mail, said Bill Hartnett, Microsoft’s global director of financial services.

This will allow banks to do things such as verify letters of credit by computer, he said.