Retail banking has been unrecognizably transformed by digitization. Everything from payments to basic credit products can now be availed digitally. However, when it comes to corporate or business banking, the pace has just not been the same. One good example of this is the process of trade which includes both vanilla open account transactions and trades secured via documentary credit products.

In November 2018, ETSI published the new version of standard ETSI TS 119 495 - Sector Specific Requirements Qualified Certificate Profiles and TSP Policy Requirements under the Payment Services Directive (EU) 2015/2366. The standard was expected by financial institutions and trust services to allow secure communication in the context of Payment Service Directive 2 (PSD2).

The last few months have been exciting for all stakeholders involved in the implementation and use of the eIDAS toolbox. Some important milestones have been reached and new initiatives are taking off. However, to really increase the uptake of eIDAS enabled services, a three-pronged approach is needed to really bolster the main growth drivers. This approach is based on the feedback received from the various respondents in a recent ENISA survey and its accompanying report.  

The use of cryptography is the foundation for secure processing of financial and other electronic transactions. The management of the associated cryptographic keys, on the other hand, has been equally effective at stressing the capabilities of your people, processes, and systems. With that in mind, here are three advantages that automated key management will give you and your organization.

A study published in early 2018 by the European Union Agency for Network and Information Security (ENISA), revealed that 90% of the respondents believed eIDAS to be an opportunity to grow their business. It is no wonder then that recent adoption of the eIDAS framework has been gathering steam. However, there are still a number of barriers that exist when it comes to the implementation and uptake of Trust Services as defined in the eIDAS regulation. Here, we look at some of those barriers along with some key strengths of the trust services market.

The need for mitigating risk with an appropriate key management system (KMS) is critical to the success of any organization that shares sensitive data across networks.

Here is a breakdown of two common types of KMSs and how risk mitigation can be successfully accomplished.

The modern world of cybersecurity can be a confusing place. There are tomes of data, regulations, and mandates in addition to the complex technical aspects. This is especially true when it comes to crypto key management systems (KMSs).

In a recent article, we looked at how eIDAS can help SMEs grow and prosper. SMEs are undoubtedly the lifeblood of any economy which means that EU initiatives must cater to their specific needs. The previous article looked at how eIDAS can address the security needs of SMEs while reducing their regulatory burden and allowing them to focus on their core competencies.

However, SMEs have a unique set of challenges as well. Today, we look at some of the challenges unique to SMEs and how those challenges may be overcome to ensure that SMEs can benefit from eIDAS enabled tools to the maximum extent possible.

What You See Is What You Sign (WYSIWYS) refers to the part of any signature process, where you read a document you intend to sign, and ensure that you only sign it once you know it is the right document and agree with its terms. When you read something in your web browser, how can you be sure that the text you read is genuine, from the right source, and agree on the content it displays?