IDnow unveils QTSP partnership with IDnow Trust Services AB

IDnow has announced a collaboration with IDnow Trust Services AB, which has been certified as a Qualified Trust Service Provider (QTSP) within the European Union.

The partnership between IDnow and the newly established IDnow Trust Services AB, founded as a joint venture with ESYSCO in Stockholm earlier this year, aims to offer qualified trust services like electronic signatures, time stamps, and seals. These services are designed to ensure compliance, security, and convenience for users.

Recognised as a QTSP by the Swedish supervisory body, Post-och telestyrelsen (PTS), IDnow Trust Services AB will manage electronic certificates and time stamps, handle identification evidence data, perform certification revocation, and provide assurance of data existence at specific times. This capability supports proof of document submission for processing and other operations.

A new SMS-free signing feature has been introduced by IDnow Trust Services AB, streamlining the signing process by removing the need for One-Time Password (OTP) codes. This user authentication process is compliant with various CEN and ETSI standards and is designed to enhance the digital signature experience. IDnow Trust Services AB is the first QTSP to offer this novel process.

Andreas Bodczek, Chief Executive Officer of IDnow, stated: "We are incredibly pleased that our joint venture, IDnow Trust Services AB, is already bearing the fruits of our labor. At IDnow, we have long made it our mission to actively shape and lead the Know Your Customer and digital identity industry; we are now once again showing this leadership role by doubling down on trust services, as they are an essential part of the transformation of the digital identity market heralded by eIDAS 2.0."

He further expressed that the synergy of identity verification and qualified trust services projected by IDnow Trust Services AB will offer compliant and efficient solutions to business operations across the EU. This aligns with a goal to set new standards for trust and operational efficiency, positioning businesses for enduring success within the evolving digital environment.

Johannes Leser, Chief Executive Officer of IDnow Trust Services AB, commented: "Trust and liability is the backbone of all business, and it will be the driving force behind the global digital economy. IDnow Trust Services AB is committed to delivering innovative and highly dependable solutions to IDnow, its customers, and partners. With trust as our mutual foundation, we're poised to revolutionise the European digital signature market, which is expected to be seven times larger by 2030 than it is today."