Penneo, a digital signature company, has made a major milestone by being accepted on the EU Trust List. The Agency for Digital Government in Denmark approved Penneo’s application, listing the company as a Quality Trust Service Provider (QTSP).
Investing in Tech Infrastructure
In 2022, Penneo invested in enhancing its tech infrastructure and upgrading its Sign platform to meet EU legislation standards. The company’s recent approval allows it to offer the highest level of electronic signature in the EU, Qualified Electronic Signatures (QES) in addition to Advanced Electronic Signatures (AES) already provided.
Improved Overall Value Proposition
Being a QTSP positions Penneo as a key player in this field and will allow the company to increase the security and compliance level for signatures as soon as the market allows it. In eIDAS, only QES signatures are perceived legally and automatically equivalent to handwritten signatures, and the only type recognized in transactions across EU member states. This approval improves Penneo’s overall value proposition and ability to serve larger companies across borders in the EU.
Key Player in Electronic Signature Field
CEO Christian Stendevad says, “QES is an important market enabler and we expect it will speed up new market entries. It also taps directly into our overall mission of making it as easy and beneficial as possible for our customers to be compliant.”
EIDAS Regulation
The EIDAS regulation, introduced in 2016, became mandatory in all EU member states and replaced the eSignature Directive. The regulation’s objective is to enable convenient and secure electronic transactions across EU borders for citizens, businesses, and public sector institutions. It defines three types of electronic signatures: Simple / Standard electronic signatures (SES), Advanced electronic signatures (AES), and Qualified electronic signatures (QES), with QES being the most secure.
Conclusion
Penneo’s inclusion on the EU Trust List marks a major milestone for the company and opens the door for further growth in the audit and accounting vertical and other industries across Europe. With its upgraded tech infrastructure and the ability to offer the highest level of electronic signature, Penneo is positioned as a key player in the field and ready to serve larger companies across borders in the EU.