Facilitated digitization
The last hurdle falls: Legally valid digital signatures for all
The Swiss fintech company fidentity and encryption expert Cryptomathic are joining forces to make qualified electronic signatures easily accessible to everyone. Thanks to automated and seamlessly integrated online identification, an end-to-end signature process is to be made possible.
A smartphone, a valid ID document and a smile – that’s all you need for a legally binding signature.
By the time a legally valid signature is required for the conclusion of a contract, at the latest, business processes end with paper. Through a technology partnership, fidentity and Cryptomathic want to remove this last hurdle and make legally valid digital signatures accessible to everyone.
Signature solutions available today are either easy to use but not legally binding. Or they are legally binding but not very user-friendly. That is why fidentity and Cryptomathic have combined their know-how to solve this challenge and promote the spread of qualified electronic signatures (QES).
High requirements inhibit the spread of QES
The QES is the only signature standard in Switzerland and the EU that is equivalent to a handwritten signature in terms of security and verifiability. Nevertheless, QES has not yet become widely accepted and is often only available to closed user groups. his is due, among other things, to the legally prescribed identification that is required for a QES. Previously, signers first had to identify themselves at a registration office or their identity was verified in a live video call.
Legally valid signing thanks to automated identification
In the collaboration between the two software providers, fidentity provides the missing piece of the puzzle to make legally valid digital signatures accessible to everyone. “As experts in online identity verification, we provide our certified technology for an end-to-end signature process to make legal signing accessible to all,” said Thorsten Hau, CEO of fidentity. The fully automated identity verification process will be seamlessly integrated and will not require technical integration or involve third-party vendors. A smartphone, a valid identification document and a smile – that’s all it takes for a legally binding signature, Hau said.
“As experts in online identity verification, we provide our certified technology for an end-to-end signature process to make legal signing accessible to all,” said Thorsten Hau, CEO of fidentity.
Certified technologies for maximum confidence
The partnership brings together Cryptomathic’s pioneering and secure eSignature solution, Signer, with fidentity’s certified online identification, IDENT. “The combination of certified identity verification and best-of-breed encryption technology will be key to the breakthrough of digital signatures and critical to the future of digital transformation,” said Guillaume Forget, EVP e-Signature and Mobile Security at Cryptomathic. Signer is one of the few certified qualified remote signature creation facilities approved for both EU and Swiss legislation. fidentity offers a fully automated and seamless online identity verification service that meets all current requirements of the Financial Market Supervisory Authority (FINMA), the European Telecommunications Standards Institute (ETSI) and eIDAS and is certified by kpmg.
About Cryptomathic
Cryptomathic is a global provider of secure server solutions for businesses in a variety of industries, including banking, government, technology manufacturers, cloud and mobile. With more than 35 years of experience, Cryptomathic provides systems for authentication and signing, mobile app security, EMV, and key and cryptocurrency management through best-in-class security solutions and services.
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