300+ Organizations Endorse xDTM Digital Transaction Management StandardBy: xDTM News
SAN FRANCISCO, March 10, 2015 /PRNewswire/ – The xDTM Standard Association announced the addition of sixteen C-level executives and security experts from some of the world’s most trusted brands who have joined its Governing Board to advance secure, trusted online transactions through the xDTM Standard. The organization also announced the formation of a Technical Steering Committee to build upon the foundational work completed on the xDTM Standard by the Association’s Governing Board. To date, more than 300 organizations worldwide have endorsed the xDTM Standard.
“Standards help drive consistent, predictable, and trustworthy interactions between parties,” said Arden Bement, former director of both the National Institute of Standards and Technology and the National Science Foundation. “The xDTM Standard defines the methods, procedures, and requirements for safe and secure digital transactions as more and more companies and individuals make the transition to fully digital interactions in the cloud.”
The xDTM Standard Association’s Governing Board members include:
- Brett Arsenault, CISO, Microsoft
- Dr. Arden Bement, former Director of National Institute of Standards and Technology and National Science Foundation, and Distinguished Professor, Purdue University
- Tom Pageler, Chief Risk Officer, DocuSign
- Rob Carter, Executive Vice President of FedEx Information Services and CIO, FedEx
- Rick Echevarria, Vice President of Intel Security Group, Intel
- Tom Gonser, Founder and Chief Strategy Officer, DocuSign
- Michael Higgins, CISO, NBCUniversal
- Darrell Keeling, Director, IT Security and Quality, Brown-Forman
- Kevin Mahaffey, Cofounder and CTO, LookOut
- Dr. Gerry McCartney, CIO, Purdue University
- Rena Mears, Managing Director, BuckleySandler LLP
- Randy Miskanic, CISO, U.S. Postal Service
- Dr. Natalie Pageler, Clinical Assistant Professor and CMIO, Stanford Children’s Health
- Dr. Jonathan Palma, Medical Director of Analytics, Stanford Children’s Health
- Eduardo Perez, Head of Global Risk Strategy, Visa
- Scott Petry, Cofounder and CEO, Authentic8
- Robert Rodriguez, Chairman and Founder, SINET
- Margo Tank, Partner, BuckleySandler, LLP
- Brett Wahlin, CISO and Vice President, Hewlett-Packard
- Jason Zann, Vice President and Head of Platform, RiskIQ
Endorsements for the xDTM Standard have been growing since the announcement of the global initiative last year. Leaders from more than 300 organizations across industries including insurance, finance, healthcare, real estate, media, high tech and others, have expressed support of the initiative, including: American Healthcare Lending; Ameri-Star Real Estate Company Inc.; Ascendo Resources; CISD; Digital First Herald The Monterey Herald; Elevate Services; Endpoint Technologies Associates, Inc.; First Community Insurance; Intellicap; International Bank of Commerce; Jordan Lawrence; Misys; Mutmut Media; New Braunfels Properties; Northwest Community Credit Union; Perm State Institute for Permian Ethnos Culture, Kudymkak, Perm Krai Russia; Quinn Realty Group; Realty World Executive Advantage; Saunders Construction; SpendVu; TFCU; The Team Realty; ThinkSmart; and Watershed Innovations.
“The time is right for the xDTM Standard. The legal framework is clearly in place,” said Margo Tank, Partner, BuckleySandler.”The judicial precedent is supportive. Regulators want to create transparent transactions. And businesses want efficiency gains and reduced costs. All the pieces are in place to move numerous industry verticals to a truly paperless environment.”
The xDTM Standard Association also announced a new Technical Steering Committee which will define and advance requirements, and create the framework for an associated certification program to ensure open, secure digital transactions so organizations and consumers are protected when conducting business online. As part of the focus on certification, the group aims to establish target levels for complying with the xDTM Standard so that companies can ensure they adhere to best practices and consumers can make sure their Digital Transaction Management (DTM) providers deliver highly secure, completely private, and consistently available platforms for digital transactions.
The Technical Steering Committee will also begin outlining the technical specifications for each of the eight pillars of the xDTM Standard, which are built on the cornerstones of being “trusted” and “connected”:
- Security – Features best-in-class technical protection, highly secure access and proactive protection policies.
- Privacy – Allows a person or company to reveal information selectively, at their discretion.
- Availability – Offers continuous availability to systems and data.
- Compliance – Conforms to industry policies, standards and laws. Engages recurring third-party auditing and self-assessment to verify compliance.
- Universality – Functions across heterogeneous environments/devices and is accessible worldwide.
- Scalability – Accepts increased volume without impacting performance due to ongoing capacity modeling and proactive lifecycle management.
- Enforceability – Has a reliable, transparent and verifiable chain of custody, and a digitally signed, tamper-evident audit trail.
- Interoperability – Works across collaborative services environments and includes open gateways and APIs.