UBS Deploys Qualified Electronic Signature Service with Cryptomathic and SwissSign

by PaymentsJournal 0

Switzerland’s largest retail bank pioneers service digitization,increases document security and enables a fully mobile digital user experience

27 March 2017 – Shortly after thelaunch of their joint centralised solution for Qualified Electronic Signatures(QES), Cryptomathic and SwissSign today announce the completion of a majordeployment at UBS, Switzerland’s largest retail bank.

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

UBS’ retail and wealth management clients can nowutilise the secure signing service through their E-banking and have the freedomto digitally sign legally binding documents at any time on any device, fromanywhere in the world.

Andreas Kubli, Head Multichannel Management &Digitization, UBS Switzerland, comments:

“Previously, our clients hadto print, sign and send documents manually for compliance reasons. Now they cando it in a smart, easy and time-saving way. Thanks to Cryptomathic andSwissSign, customers can sign their contracts digitally in e-Banking – whilemeeting all legal and compliance requirements.”

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

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

Guillaume Forget, ManagingDirector at Cryptomathic GmbH., remarks:

“Each year, UBS processes millions of documents that require a legallybinding signature. The ability to digitize this process brings considerablesavings both in terms of costs, time and CO2 consumption.

Cryptomathic is pleased to see UBS launch a Qualified ElectronicSignature service based on our Signer technology.”

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

Click here to read the full case study on how UBS deployed their qualifiedelectronic signature service.