Online Certificate Status Checking in Financial Transactions: The Case for Re-issuance

High-value financial transactions underwrite the need for a relying party to check the status of a digital certificate in real time. In this paper, we propose a simple mechanism for online certificate status checking that is particularly well suited to the closed public key infrastructures that characterize financial networks. We further demonstrate how persistent evidence of this status checking request/response becomes a valuable by-product. In financial systems, "transaction receipts" naturally accumulate and by doing so, they encapsulate the entire lifecycle of a single transaction.