eIDAS 910/2014 e-ID Regulation for electronic identification and other fiduciary services during electronic interactions and transactions
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eIDAS certification ensures that Trust Services Providers (TSPs) and the services they provide for electronic interactions comply with the requirements of Regulation (EU) 910/2014.
The purpose of the regulation is to stimulate the growth in electronic interaction between consumers, businesses, institutions and government bodies across international borders. The regulation ensures cross border acceptance of electronic identification for both consumers and businesses, and cross border acceptance of electronic signatures, electronic seals, time marks and validation of evidence-based documents.
The volume of digital information and data continues to grow. As a result it’s increasingly difficult to manage and store data safely and in a risk-free manner.
The new Electronic IDentification Authentication and Signature Regulation (eIDAS 910/2014) came into force on July 1, 2016. It covers electronic identification and trust services for electronic interactions and transactions such as digital signatures, electronic seals or time marks and validation of evidence-based documents. The law obliged companies that base their business on the digital market, namely TSPs or fiduciary service providers, to obtain certification from accredited third-party bodies by 1 July 2017.
With the involvement of accredited certification bodies, such as DNV - Business Assurance, this legislation aims to provide a solid regulatory basis of support that will give consumers, public authorities and industry partners involved in digital interactions, security and confidence. The task of the third-party certification body is to ensure that trustee operators are both qualified and comply with international standards. The European Commission was extremely keen to implement eIDAS as it helps create a single digital market at European level, simplifying the cross-border use of online services.
If certification is seen to enhance consumer confidence, certified service providers will benefit from less bureaucracy and a significant reduction in administrative costs.
- The TSP may participate electronically in a public tender issued by the administration of another Member State without risking that its electronic signature will be blocked because of specific national requirements and / or interoperability issues.
- The legislation provides for the introduction of an ‘electronic seal’ – an electronic signature that relates to the company and not to an individual legal representative. This could greatly simplify administrative and legal management of the company.