UBS uses electronic signature technology from Cryptomathic and SwissSign

UBS uses electronic signature technology from Cryptomathic and SwissSign
27.03.2017 11:00 am

UBS uses electronic signature technology from Cryptomathic and SwissSign

Online Banking , Security

Shortly after the launch of their joint centralised solution for Qualified Electronic Signatures (QES), Cryptomathic and SwissSign today announce the completion of a major deployment at UBS, Switzerland’s largest retail bank. 

As one of the world’s largest banks, UBS is transforming its services through digitization and now offers clients the convenience and efficiency of remote electronic signatures that provide the same legal value as a handwritten signature. The QES service is deployed via Cryptomathic’s Signer solution and supported by SwissSign’s Qualified Certificate Authority services. 

UBS’ retail and wealth management clients can now utilise the secure signing service through their E-banking and have the freedom to digitally sign legally binding documents at any time on any device, from anywhere in the world.

Andreas Kubli, Head Multichannel Management & Digitization, UBS Switzerland, comments: 
"Previously, our clients had to print, sign and send documents manually for compliance reasons. Now they can do it in a smart, easy and time-saving way. Thanks to Cryptomathic and SwissSign, customers can sign their contracts digitally in e-Banking - while meeting all legal and compliance requirements."

The Cryptomathic and SwissSign QES solution has enabled UBS to move more of its services online, pioneering a superior and fully mobile digital user experience while enhancing security and control of its document management. As an added benefit, the financial and environmental costs of managing millions of paper documents have also been reduced significantly. By digitizing the entire customer journey, UBS has become one of the first banks globally to deploy a QES service on such a large scale.

Cryptomathic Signer is a remote signature solution and the main component of the QES infrastructure deployed with UBS. Signer offers centralised digital signature services in a secure, convenient and cost effective fashion, where users’ signing keys are protected using Thales e-Security n-Shield hardware with EAL 4+ certification. UBS clients can use their existing strong authentication means and can sign from the award-winning e-banking channels with no need for additional tokens or PKI cards. The unique Cryptomathic What-You-See-Is-What-You-Sign (WYSIWYS) technology ensures that users can only sign a document that is presented to them if the document is genuine and has not been tampered with. 

Guillaume Forget, Managing Director at Cryptomathic GmbH., remarks: 
“Each year, UBS processes millions of documents that require a legally binding signature. The ability to digitize this process brings considerable savings both in terms of costs, time and CO2 consumption. Cryptomathic is pleased to see UBS launch a Qualified Electronic Signature service based on our Signer technology.”

SwissSign, a leading Certificate Authority (CA) provider in Switzerland, partnered with Cryptomathic to deliver the complete QES solution. SwissSign delivers the Qualified Certificates in accordance with Swiss signature law (ZertES) and EU regulations (eIDAS). Other components include the OCSP services, certificate management and Qualified Time Stamping services.

Related News

UOB’s Digital Bank advances customer-centric data solutions with Meniga

United Overseas Bank (UOB) today announced that its advanced data enrichment and categorisation capability will help UOB Digital Bank customers keep track in real time of their... Read more »

Q2 to Acquire Cloud Lending Solutions

Q2 Holdings, Inc. (NYSE:QTWO), a leading provider of secure, experience-driven digital banking solutions for community-focused financial institutions, has announced an... Read more »

Tinkoff and Sberbank Announce P2P Money Transfers Using Just a Mobile Number

Tinkoff Bank has launched a joint initiative with Sberbank to allow their customers to make P2P money transfers using a mobile number, as part of the bank’s drive to expand the... Read more »

IBM and Avaloq to build the “Swiss Banking Cloud”

IBM and Avaloq, a leading global provider of software as a service (SaaS) and business process as a service (BPaaS) solutions to banks and wealth managers, today announced an... Read more »

Mambu helps power Folkefinans’ growth strategy

Mambu today announced that pioneering Nordic digital lender, Folkefinans, is leveraging the SaaS banking engine to power its long-term growth strategy. Folkefinans chose Mambu... Read more »

Avaloq recognised as a Leader in 2018 NelsonHall Evaluation & Assessment Tool for Wealth and Asset Management

The Avaloq group, the international fintech company and leader in the development and operation of core and digital banking software, has been recognised by NelsonHall as a... Read more »

Magazine
ALL
Free Newsletter Sign-up
+44 (0) 208 819 32 53 +44 (0) 173 261 71 47
Download Our Mobile App