Cybits AG paves the way for a paradigm shift in Europe

Two certified identification methods allow online signed contracts with full legal force by using [verify-U]eSign

Mainz-Kastel, 05/07/2016. With the new EU regulation eIDAS online signatures from the cloud are now with full legal force across Europe. The Cybits AG proves once again that the company is an innovative leader in the field of know-your-customer solutions and the digitization of on-boarding processes ahead of the market. Already presented in October 2014 and in daily usage since April 2015, thousands of contracts have been successfully signed online with this solution.

[verify-U]eSign has now been updated for cloud-based online signatures by adding another method of identification. With [verify-U]eSign no paper is shipped to customers anymore, the complete on-boarding process is digitized without any media disruption, including online signature of contracts.

Since [verify-U]face2face has recent been certified by TÜV-IT, according to the German Signature Act, consumers can now choose between two identification procedures if they need to fulfill a written form requirement online. TÜV-IT is a conformity body accredited by the Federal Network Agency. [verify-U]face2face is already widely used as a video identification solution in the financial sector.

The combination of the two online identification methods offered by Cybits delivers a huge advantage to its business customers because it delivers the best customer acceptance rate in the market. This is an experience that some financial institutions have already made by combining the now certified video identification solution with the already certified online identification method of [verify-U]Ident. This advantage is now open to all service providers that want to complete their online business processes with an online signed contract with full legal force. Each consumer can now choose for the identification solution that is his favorite and corresponds to its current technical possibilities.

As a pioneer of online verification of individuals, Cybits is active in the market since 2006 and has gained ten years of experience in what consumers and business customers expect to enter successfully into an online transaction “at any time, from anywhere and instantly”.

“Since we have received the first confirmation that our products meet the German Signature Act in 2014, we have worked hard to digitize not only the identification of an owner of a qualified electronic signature, but in addition to make the usage as simple as possible in a way that the important aspects of safety, reliability and customer friendliness are not suffering. With the new certification for our video identification method [verify-U]f2f in combination with our previously been certified identification method we achieve conversion rates of more than 90%. This is a benchmark which makes the complete digitization of customer on-boarding for our business customers really attractive. There are no comparable results in the market. We can identify customers and can sign contracts online around the clock on 365 days a year and that across all member states of the EU with full legal force, “states the CTO of the company, Volker Neiss.

The legally binding online signature is based on a qualified certificate, which is issued after a successful online identification. This certificate is being used to apply qualified electronic signature to the digital contracts. “Those technical hurdles that previously prevented the use of digital signatures in Germany, have been eliminated with [verify-U]eSign and that creates a new paradigm for digital signatures. Our new cloud services are not only safe and reliable; above all they are customer friendly. “, says Hansjürgen Keiling, sales director of Cybits AG. “The consumer does not need a smart card and a reader anymore, items that previously had to be purchased at own cost. There is no need to install special software in order to sign online a contract with full legal force. Just a web-enabled device and a mobile phone are sufficient to sign a contract with full legal force online in only 5 clicks. “, Keiling continues.

With the extended [verify-U] eSign Cybits offers its business partners the opportunity to identify their customers at anytime, from anywhere and to get full legally binding contracts signed online. Business customers from other European countries are already using [verify-U] eSign to offer a fully digitized on-boarding process to their customers from credit application to pay out the money within a single day based on a legally binding contract. “The enormous reduction in time compared to the old processes is of high value for both the business partners as well as for their consumers. In case that those consumers want to purchase other products or services from other business partners being connected to [verify-U]eSign later on, this can always be completed online in less than 2 minutes. The opportunities that this solution offers to us and our business partners that combines the benefits of the new digital world with the same level of legal certainty known from the ancient world, makes us enthusiastic about this revolutionary approach.”, points Keiling out.

Finally a safer video identification is requested

Cybits welcomes new BaFin circular for video identification

Mainz-Kastel, 20/06/2016: The specialist in online identification of individuals welcomes the strengthening of requirements for the use of video identification in the context of know-your-customer duties pursuant to the German Money Laundering Act. While security authorities like BKA, BMI and BSI had criticized the offered video identification solutions in the past as risky,  Cybits focused on setting its own video identification procedure [verify-U]f2f in a way that it achieved a sufficiently high level of safety and reliability. Being the first provider of online identification methods that have been certified according to the German Electronic Signature Act in 2013, Cybits had already proved its capacity to offer online identification  of equivalent safety and assurance to an at-the-counter identification.

“Immediately after the first BaFin circular in 2014 about video we recommended to all customers to look not only at the requirements described in this circular, but to take profit out of our ten years of experience and add special security features in order to achieve an equivalent level of safety. With our online identification products we are since 2006 in the market and have thus gained a wealth of experience that no other competitor can offer. “, says Hansjürgen Keiling, sales director at Cybits.

Additional security is mainly supplied by the modules existence check, automatic identity check and bank identification that Cybits employed in the market since 2009. “These modules in combination with the video ID achieve already since a long time that level of security that BaFin finally calls now from all suppliers.”, explains Volker Neiss, Director of Technology, the advantages of Cybits’ solution since the beginning. Neiß regrets that BaFin has waived it again to demand a security certification of the various methods, although this is required in numerous other laws and regulations. According to Neiß it is crucial for Cybits that all identification processes must be certified to the highest requirements of independent conformity bodies: “Only then, our customers can be confident that our solutions deliver the appropriate level of safety and reliability to fulfill their KYC duties.”

Both the pure online identification product [verify-U]Ident as well as the video identification product [verify-U]f2f are certified by TÜV and comply to the German Electronic Signature Act and the European ETSI standards. Supplemented by the product [verify-U]eSign, consumers can be on-boarded fully online and even contracts can be signed online with full legal force without any paper shipped. [verify-U]eSign is another solution for which Cybits was first to the market in 2014 and saved a lot of time for consumers and financial institutes.

ICICI chooses [verify-U]face-to-face for online identification across Europe

Biggest private bank of India selects Cybits’ solution to support Money2India service

Mainz-Kastel, February 05 2015:  ICICI, the biggest private bank in India, is the first globally operating bank that decided to use Cybits’ new online video-identification [verify-U]face-to-face. The Frankfurt branch of ICICI UK performs the Money2India service across 17 countries of the Euro zone where user can be identified online now by using [verify-U]f2f. “We are pleased to offer a convenient and innovative solution to our customers. We believe that this service will further enhance the experience for our customers. Our Money2India.eu platform is an efficient and convenient platform for the Non Resident Indian population in Europe to send money to their loved ones in India”, commented Mr. Sudhir Dole, Managing Director & CEO of ICICI Bank UK PLC on the launch.

Stefan Pattberg, CEO of Cybits, is very pleased to have won such a global player and expresses the future challenge for [verify-U] to be compliant with all national Anti-Money-Regulations across Europe. “Our portfolio of online identification solutions addresses almost all national legislations and regulations that are based on the European directive and gives much more certainty to our business customers to be compliant with whatever regulators make ask for.”

The CTO of Cybits, Volker Neiß, explained that “[verify-U]face-to-face is available in German and English now and other languages will follow. We offer this service 16 hours a day and 7 days a week. Every user can choose its preferred video solution, either our own Cybits’ video call which is end-to-end encrypted and starts directly out of the browser or any of the leading video apps like Skype, Facetime or Hangouts. Our business partners have always the certainty that [verify-U] offers the biggest reach in the market and the highest comfort for our users.”

 

About ICICI Bank UK PLC, Frankfurt Branch

ICICI Bank UK PLC is a wholly owned subsidiary of ICICI Bank Ltd., India. ICICI Bank UK PLC is authorized by the Prudential Regulation Authority (PRA), and regulated by the Financial Conduct Authority (FCA) and PRA. ICICI Bank UK PLC, Frankfurt Branch is also regulated by the German Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht – BaFin) and a member of the Association of German Banks (Bundesverband deutscher Banken – BdB). Since February 28, 2008 ICICI Bank UK PLC has been active in the German retail market. It is also focusing on corporate clients with close links between Europe and India.

EN – FUNDSTERS führt Innovation für Neuinvestoren ein: Legitimationsprüfung per Video-Chat!

Mainz-Kastel, 23. September 2014:   Damit niemand unter Angabe einer falschen oder gestohlenen Identität investieren kann, bieten einige Crowdinvesting-Anbieter zusätzliche Sicherheit durch Überprüfung der Identität ihrer Investoren gemäß Geldwäschegesetz (GwG). Mit der Identifizierung per Videochat [verify-U]f2f ergänzt die seit zwei Jahren bestehende Crowdinvesting-Plattform FUNDSTERS nun die Legitimationsmöglichkeiten für Ihre Investoren.

„Wir sind stets auf der Suche nach neuen und innovativen Lösungen, um die Usability unserer Webseite so einfach und den bürokratischen Aufwand so gering wie möglich zu halten. Wir freuen uns daher, mit [verify-u]f2f eine weitere, neue und innovative Möglichkeit zur Online-Identitätsprüfung aus dem Hause Cybits anbieten zu können. Dieses sogenannte Face-to-Face-Verfahren wird die Legitimation für viele unserer Investoren zukünftig enorm vereinfachen. Sie erhalten damit die Möglichkeit, die Legitimation einfach und bequem mittels Video-Chat von zu Hause, z.B. aus dem Internet Browser oder über Anwendungen wie Skype, Facetime etc. durchzuführen. Egal, ob über Webcam, Smartphone oder Tablet, das Face-to-Face-Verfahren bietet jedem Kunden den passenden Videokanal.“ so Markus Brütsch, CEO von FUNDSTERS.

„Wir freuen uns sehr, unserem langjährigen Partner FUNDSTERS mit dem neuen Modul [verify-u]f2f eine weitere, einfache und bequeme Identifikationslösung zur Erfüllung aller GWG-Pflichten bieten zu können. Das FUNDSTERS-Team hat das Verfahren intensiv getestet und ist von der Einfachheit des Prozesses begeistert. Wir werden hier aber nicht stehen bleiben, sondern wollen mit [verify-U]eSign zukünftig auch die notwendigen Vertragsdokumente online unterschreiben lassen und zwar mit voller rechtlicher Wirkung, wie sie das Bürgerliche Gesetzbuch vorschreibt“ so Stefan Pattberg, CEO der Cybits AG.

Über Cybits AG

Die Cybits AG (www.cybits.de) liefert Produkte und Dienstleitungen für Unternehmen und Privatpersonen, die sich in der digitalen Welt mit den gesetzlichen und regulatorischen Vorgaben aus Jugendschutzgesetz, Jugendmedienschutz-Staatsvertrag, De-Mail Gesetz, Glücksspiel-Staatsvertrag und Geldwäschegesetz auseinander setzen müssen. Zum Leistungsportfolio gehören Lösungen für die Bereiche Personenidentifikation, Altersverifikation, sicheres Handeln im Internet sowie Dienstleistungen im Zahlungsverkehr. Mit seinen gesetzeskonformen Personenidentifikationslösungen [verify-U]f2f, [verify-U]ident und [verify-U]eSign hat Cybits bereits über 1,8 Mio. Personen identifiziert. Unsere Lösungen kommen bei Finanzdienstleistern, Medien- und Glückspielanbietern, Trust-Service-Providern, im Gesundheitswesen sowie bei Online Händlern und Dienstleistern zum Einsatz.

 

Über FUNDSTERS AG

Die FUNDSTERS AG (www.fundsters.de) bietet Investoren, Beteiligungsgesellschaften und Business Angels die Möglichkeit, sich im Rahmen eines standardisierten und geprüften Vertragswerks an chancenreichen Unternehmen zu beteiligen. Durch einen von der BaFin gebilligten Beteiligungsprospekt können Unternehmen auf FUNDSTERS auch ohne aufwändige und teure Erstellung eines eigenen Prospekts regulierungskonform Eigenkapitalinvestitionen von mehr als 100.000 EUR erhalten. Investoren nehmen im Rahmen einer Finanzierung unbegrenzt am Gewinn und an Unternehmenswertsteigerungen teil. Das Risiko ist auf das eingesetzte Kapital begrenzt und es besteht keine Nachschuss- oder Rückzahlungspflicht. FUNDSTERS bietet Investoren also die Möglichkeit, sich ohne Mindestbeteiligung ein breit diversifiziertes Startup-Portfolio aufzubauen.