Munich, November 27, 2019 – Sysmosoft, a provider of secure mobile solutions for digital banking processes, and Swisscom Trust Services have entered into a strategic partnership. This will enable banks to offer their customers a fully digital customer journey that is not only time-saving, but also legally compliant and user-friendly. The qualified electronic signature, which is provided by Swisscom Trust Services as Qualified Trust Service Provider (QTSP), has been approved in accordance with both the EU standard (eIDAS) and the Swiss standard (ZertES) and is therefore equivalent to a handwritten signature in both jurisdictions.
The strict legal requirements of transaction processes in the banking industry are usually detrimental to user-friendliness and require a great deal of time. Contracts have to be printed out and sent back and forth by post for a signature; often other parties are involved for customer identification, scanning or processing before they are digitally processed. The established partnership eliminates the need for time-consuming offline processes. Banks can send contracts digitally to mobile devices and have them confirmed and returned by customers. The identification of bank customers remains in-house at the bank. In the future, banks will also be able to offer mortgage contracts, loans or investment proposals completely digitally to the end customer – user-friendly, independent of time and place and on an equal footing with a manual signature. Customers receive a smooth customer journey without media disruption and can sign contracts and transactions electronically with just a few clicks. In addition, the solution is not limited to process-bound contracts, but also allows the signature of all documents and the approval of bank transfers.
“The cooperation brings together the usability that consumer transaction customers know about with the legal validity and security required for banking processes,” said Frederic Mauger, partner and co-founder of Sysmosoft. “Swisscom Trust Services was exactly the right partner for us because it is the only QTSP to provide an electronic signature in accordance with EU and Swiss standards. In addition, the expertise to transfer the legal requirements into the technology was essential to provide this combination of usability and compliance”.
“This partnership is a new milestone in the digitalization of banking,” says Marco Schmid, Head of International Expansion Strategy at Swisscom Trust Services. “The signature for contracts is no longer a bottleneck in transaction processes, but can now simply be done digitally. For us, this cooperation is unique because Sysmosoft not only enables electronic signatures of PDF documents, but also offers all forms of digital declarations of intent. Banks thus have at their disposal an unprecedented combination of legal certainty, user-friendliness and efficiency, a groundbreaking innovation for the future”.
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About Sysmosoft SA
Sysmosoft SA is a provider of solutions for the digitization of banking processes, specializing in the implementation of transaction-based business processes. Sysmosoft is an expert in secure data transfers to mobile devices, enabling banks to achieve greater mobility and user-friendly offerings. The company is headquartered in Yverdon-Les-Bains, Vaud, Switzerland.
About Swisscom Trust Services
Swisscom Trust Services is the only provider of qualified electronic signatures for EU (eIDAS Signature Ordinance) and Swiss (ZertES Signature Act) legal territories. As leading provider of trust services in Europe, Swisscom Trust Services enables partners to implement pan-European digital innovations by providing identity-based services that can run entirely on digital platforms, eliminating the need to change between media formats. The signature service easily enables partners to add an electronic signature to their own business solutions while taking industry-specific requirements and compliance regulations into account. This provides end customers with a multitude of options which previously had to be completed on paper, such as signing contracts, buying insurance, signing an employment contract, applying for a credit card or signing acceptance protocols – digital and legally binding.
Swisscom is the leading telecommunications company and one of the leading IT companies in Switzerland. Swisscom offers mobile communications, fixed network, Internet and digital TV to business and private customers and is also one of the largest providers of IT services in Switzerland.