How can you keep your organization’s digital transactions safe? What are the eSigning trends you need to look out for? What is the best way to balance security and compliance with competing business needs? These are some of the most pressing enterprise digital transformation questions answered in our latest on-demand webinar Securing Digital Transactions in an Insecure World with our panelists:
- Nico Sienaert, Security GTM Lead at Microsoft
- Kristof De Vulder, Country Managing at DLA Piper
- Magali Biron VP, Business Development at Nitro
The implementation of digital tools is rapidly growing and more organizations are turning to technology to transform how they work and gain competitive advantage. But as the digital economy accelerates, security and compliance cannot get overlooked.
In this article we provide a preview of the top insights you can learn more about in the webinar.
1. Digital Identity Is a Key Component of Cybersecurity
From online banking to social media, digital identification has become standard practice in today’s economy. While identity plays an important role in the digital transformation journey and cybersecurity initiatives for many businesses, Nico Sienaert shares concerns that society has become lost in its identity footprint.
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“You share pieces of your identity always with centralized identity providers. You give pieces to Facebook, Google, Microsoft, the bookstore. Everyone has pieces of your identity.”
Nico Sienaert
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He predicts that ‘decentralized identities’ are the future. This means individuals will have full control over how they share their identity and will ultimately have the power to decide which piece of their digital identity is shared with verifiers.
2. Data Is Exploding, and Needs to Be Protected
The volume of digital transactions is increasing, and more sensitive data is shared online than ever before. Nico sees his customers' digital footprint expanding at a fast pace and explains the importance of tracking data. With fraud, identity theft and data breaches on the rise, organizations must fully understand their data streams in order to identify potential security vulnerabilities. Nico states this is difficult to do with only human manpower, so the right technology is required to protect data and meet legal and compliance needs.
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“The challenge for organizations is to master their digital footprint and to really understand what that footprint is. Because you can only protect what you know.”
Nico Sienaert
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3. Trusting Your eSignature Vendor Is Critical for Success
Organizations need to ensure their digital transactions and eSignatures meet legal and regulatory requirements, as well as their own unique needs. Kristof speaks about the value of EU’s eSignature Qualified Trust Services Providers list and how it can help businesses meet digital compliance needs.
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“When a company is on such a list, you are effectively assured that a supervisory governmental body has duly audited the technical solutions.”
Kristof De Vulder
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4. The Future of eSignature Solutions Will Be Shaped by Regulations
Kristof also shares predictions of movement in the eSignature regulatory space with Magali Biron of Nitro. The EU Commission published a proposal in 2021 to revise eIDAS, the European Union’s Electronic Identification, Authentication and Trust Services. Kristof details the important updates that could arise as part of this proposal, and how it could harmonize with other legislations including the Cyber Security Act.
While it's still very much in debate, organizations need to stay up to speed and understand how these changes will impact them and their electronic signature practices.
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“The major increase in the volume of electronic transactions has triggered the interest of the lawmakers. We can definitely expect a series of more profound changes, that will not only occur in the EU, but all over the world.”
Kristof De Vulder
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Explore More Insights on Keeping Your Digital Transactions Secure and Your eSignatures Compliant
Watch our on-demand webinar to hear more from the Microsoft, DLA Piper and Nitro experts.
Do you have questions on digital transaction security and compliance? Connect with our team for a personal conversation.