Securing and Streamlining Board Administration with BoardiGO

  • Julien Jenoudet, Chief Executive Officer at BoardiGO

  • 12.10.2022 03:13 am

Financial IT: Please briefly describe your company’s mission.

Julien Jenoudet (JJ): BoardiGO is a web and mobile tool that secures and streamlines the board administration process while maintaining compliance. BoardiGO is simple to use for board members and company secretaries, whether in online or hybrid mode. It saves time and adds security. There is a clear and complete audit trail. Its inbuilt electronic signature ensures the validity of votes and signings (being compliant with the eIDAS legislation of the European Union).

Financial IT:  What product/service are you showcasing at Sibos 2022? What are the key features of the product?

JJ: We are showcasing the main BoardiGO product, which provides digital solutions to boards, enabling them to work with the highest levels of trust, digital security, and legal protection.

At Sibos 2022, we want to show  how our app employs cutting-edge cryptography and other technologies. BoardiGO seeks to simplify, safeguard, and make transparent corporate governance for all stakeholders, board members, and corporate secretaries. This means that it can make the administration associated with governance more efficient.

We will be showing our built-in and customized templates, signature, and ability to handle any number of board members. There are special features that allow users to schedule a poll, synchronize external calendars, and request documents from members and external users. Additionally, we have developed integrated video conferencing tools for online and hybrid modalities.

Financial IT: How does BoardiGo help to keep track of the governance process?

JJ: All of our clients' data and workflows are stored in the European Union, either with Microsoft Azure or in a private cloud managed by us in Luxembourg. We maintain records for five years. By using our search engine, users can get documents and workflows and export their search results to an .xls file. They are able to "tag" the businesses they are managing based on the contract or customer and generate customised dashboards.

Financial IT: Blockchain technology is known as an industry disruptor. Does BoardiGo use the same cryptography on the platform?

JJ: BoardiGO employs an asymmetric encryption comparable to the one utilised by blockchains to secure identities, votes, and signatures. However, we do not use blockchain to execute our clients' processes since it would be too expensive and too sluggish, and our clients demand a high level of consistency when they are online and running their boards. In other words, they want to see it immediately when, for example, a board member votes. However, we use a decentralised cloud known as IPFS to ensure that our Certificate Revocation List is always accessible to third parties.

Financial IT: What Is a Certificate Revocation List (CRL)? How does BoardiGo apply CRL on its platform?

JJ: The list of revoked certificates pertains to the legitimacy of signatures and votes. When a user is onboarded to the BoardiGO platform, a certificate tied to his/her identity is generated and utilised for signing and voting. Using unique technology in our private cloud, we ensure that only that person can activate the certificate associated with his/her identity. Of course, the eIDAS legislation mandates us to "tell the world" if a certificate is compromised, and we do so by posting the Certificate Revocation List.

Financial IT: What are the trends that we should expect in governance process technologies in the next 1-2 years?

JJ:  The key trend is rapid growth. According to Verified Market Research, the global board portal market size is projected to grow from US$2.48 billion in 2018 to US$ 10.43 Billion by 2026, at a CAGR of 20.15% over that period. Integration of cloud-based technologies with board portal software is expected to support market growth during the forecast period.

Of course, you also need to consider what is driving that growth. Remember that a  board portal is a system that encrypts and completes internet-based tasks to facilitate management meetings, communication, and collaboration between the board of directors and directors. In addition, it is utilised to deliver content to the directors via mobile devices or various websites. As cybercrime increases rapidly, the requirement for a secure platform for board meetings has increased significantly.

Julien Jenoudet is Chief Executive Officer of BoardiGO

BoardiGO was founded in 2021 at Luxembourg as a response to the challenges faced by corporate secretaries and board members in digitizing their governance. BoardiGO has developed a software that manages board workflows in a technologically and legally secure way (eIDAS signature included).

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