Bilateral key exchange

Bilateral key exchange

Bilateral Key Exchange (BKE) is an encryption scheme utilized by The Society for Worldwide Interbank Financial Telecommunications (SWIFT).

A Bilateral Key allows secure communication across the SWIFT Network. The text of a SWIFT Message and the authentication key are used to generate a Message Authentication Code or MAC. The MAC ensures the origin of a message and the authenticity of the message contents. This is normally accomplished by the exchange of various SWIFT Messages used specifically for establishing a communicating pair.

BKE keys are generated either manually inside the SWIFT software, or automatically with the use of an SCR or Secure Card Reader.

Since 1994, the keys used in the card reader and the authentication keys themselves are 1024bit RSA .


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