Signicat partners to bring digital identity security, traceability to emails
Signicat and Cryptshare have partnered to develop a platform-independent tool for email encryption and secure file transfers with digital identity verification.
Digital signature technology provided by Signicat embeds legal proof of who sent and received an email or data transfer in the file. This enables Cryptshare services to be used with secure, eIDAS-compliant authentications, and the companies plan to supplement the solution with additional digital identity services.
According to the companies, the solution has many potential use cases in B2B and B2C environments, to address growing demand for confidentiality in the digital world.
Between the ubiquity of email use, and the increase in digital contact due to COVID-19, Signicat and Cryptshare see the familiar medium as adding enormous value if communication is fully secure and traceable. Communications managed with a range of disparate systems such as secure forms or administration portals can be carried out through email to gain its broad acceptance and user familiarity by including digital identity confirmation, according to the announcement.
The CEOs of each company suggest the partnership will increase their organizations’ market share.
The combined solution is expected to reach the market in Q3 2021.
A recent report from Signicat claims that inconvenient onboarding processes that do not take full advantage of digital ID document checks and selfie biometrics are costing European financial institutions over $6.8 billion a year.