Cybersecurity and e-signatures: challenges and opportunities
The conference held by CAPZA in Paris on 29th October 2019 brought together in a wide variety of companies around the theme of cybersecurity in general and electronic signatures in particular. It was an opportunity to share the expertise of our portfolio company Ivnosys, a Spanish e-signature solutions expert.
The threat of data hacking, malware, fake websites, identity theft and ransomware is omnipresent. In this context, cybersecurity is becoming a major issue for companies.
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Various approaches towards dealing with these risks are emerging. The first of these is tighter regulations, especially as regards the qualification of trust service providers (the eIDAS regulation*). In addition, companies are also investing to ensure they comply with regulations. What is more, “cybersecurity has become a business in its own right, as the market is growing by 12% annually and should be worth 3.3 billion euros in Western Europe by 2022”, notes Laurent Célérier.
A rapidly expanding market
Spain is a pioneer in the field of electronic signatures, especially when it comes to using digital certificates for corporate communications and for dealings with public administrations. Yet “so far only 7% of companies have implemented e-signature solutions in their operations”, notes Alfonso Tames Llana, Managing Director of Accenture (Innovation and Emerging Technologies Lead for Spain, Portugal and Israel). “However, around 50% of companies are currently considering incorporating eSign into their business processes”.
It is also thought that 85% of business document interactions will be managed by such solutions by 2025, along with 95% of banking processes. This wave of digitalisation will also spread to sectors such as healthcare and the justice system, where 90% of procedures involving individuals, businesses and administrations will include electronic signatures.
These figures give an idea of the effort and investment that will be required over the coming years.
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