The COVID-19 pandemic put many industries to the test as they found alternate ways to serve their customers and manage to survive the crisis. The banking and finance sector may have already been ahead of the curve with digitalisation. Many banks and financial institutions were already or beginning to provide customers with the ability to digitally sign loan documents and other important financial documents. But with stay-at-home orders, the necessity for full digital customer-client relationships have gained prominence in this sector. Institutions that had not yet embraced digitalisation stood at a crossroads where accepting digitalisation was now a necessity for business continuity.

What You See is What Your Sign (WYSIWYS) is a term that is used to describe an enhanced level of data integrity within a digital signature system. Its purpose is to ensure that the content of a signed message cannot be altered, whether intentionally or accidentally (non-repudiation).

eIDAS provides the technical and legal framework needed for electronic identification and digital signatures to allow the banking industry to digitize its processes fully. This article introduces the technology needed for remote signing at the level of a qualified electronic signature (QES).

In rethinking their strategies, traditional banks have eight digital business model options to consider in order to remain competitive against untraditional newcomers to the industry.

Cryptomathic’s Signer is the only qualified (electronic) signature creation device (QSCD) that is certified under the SO-GIS agreement using the Common Criteria Recognition Arrangement (CCRA). Its security target is written to strictly conform to the certified protection profile EN 419 241-2.

Consumer behavior have shown a dramatic shift toward a preference for seamless digital banking solutions. Many banking customers now want simple and reliable products and services from their banks and other financial institutions.

In this article, we will discuss the Certificate Authority (CA) in the context of eIDAS and what is required of this entity in ensuring the integrity of qualified electronic signatures.

Considering the COVID-19 impact on digitalization, EBA’s updated Guidelines on ICT and Security Risk Assessment will help focus on priority areas, including compliance.

The eIDAS regulation provides both the technical and legal framework for electronic identification and digital signatures that the banking sector needs to fully digitalize its processes and go paperless.