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TSPs are shaping the future of digital signatures

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Any commercial transaction is based on trust. This trust is built when digital transactions are made by enterprises. It is imperative that organizations and business partners trust that the binary codes used to sign on to the dotted line are being handled securely.

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TSPs are increasingly sought after by businesses as they provide digital signature solutions. They securely store digital certificates and signing keys to protect their integrity and validity. TSPs are licensed under international regulations and provide trust services that include the creation, validation, preservation, and maintenance of certificates and digital signatures. A Qualified Trust Service Provider is the best choice if you are looking for the highest security standards in your business documents.

Let's get into the details about what a TSP is, why it's important, and what its benefits are.

Definition of TSP and QTSP

According to the EU's eIDAS regulation, a TSP is a natural or legal person that provides trust services, either as a qualified trust service provider or as a non-qualified trust service provider.

TSPs are responsible for providing foolproof mechanisms to ensure the security and authentication of digital signatures. Their services include creating, verifying, and validating digital signatures and time stamps.

TSPs could offer one or more of these services. Some issue only digital certificates. Some offer end-to-end digital signature services. No matter the service provided, all TSPs adhere to strict protocols for validating and signing digital certificates and signatures.

Qualified Trust Service Providers, (QTSPs) take digital signature solutions' security to a new level. They are qualified to provide e-signature creation services.

To meet the requirements of the eIDAS, organizations must up their security ante to be listed as a QTSP. Additional security covenants are required to ensure the integrity and protection of client data.

QTSP vs TSP: What's the Difference?

A TSP and QTSP are the same things as a general practitioner and a specialist. The one is generic, the other super qualified. TSPs provide services such as electronic signatures and seals, timestamps, and certificates for website authenticity. QTSPs offer a qualified variant of these services.

Companies typically choose between a QTSP or TSP depending on what type of security they need and the laws in the country where they are located. A regular trust service provider is able to validate and secure e-signatures in most cases. QTSP can be used to completely safety-proof your digital signatures or certificates.

QTSPs have the added benefit of being able to provide proof of correctness for digital certificates or signatures in case of a dispute. EU's eIDAS regulations stipulate that QTSPs must be subject to periodic, independent audits in order to assess their security, trust, and quality.

Why TSPs should be a priority for businesses

Consider a scenario. It's a lucrative business deal. You have signed the contract and received the goods. The partnership runs into trouble and eventually ends in a dispute. Your digital signature cannot be validated or secured if it isn't. This will leave you without standing to enforce the terms of the business agreement.

An electronic TSP can help avoid such a situation. They are required to store digital certificates and signing keys in a secure location and protect the integrity of all documents they handle. This creates trust in commercial transactions and ensures that electronic documents do not have been illegally altered. It also helps organizations identify senders. TSPs can also prove the origin and protect confidential information.

TSPs also offer advanced document validation services. These include:

  • Electronic seals When attached to a document it ensures its integrity and origin.
  • Electronic stamping: It allows you to electronically stamp documents and provide proof of the date and time that you signed them.
  • E-registered delivery service: This allows business partners to securely exchange electronic data. It acts as a safety net from theft, damage, loss, or any other unapproved modifications. It provides proof of delivery and receipt.
  • Website authentication This service allows enterprises to verify the authenticity of a website as well as the owners.

Here are compelling reasons why you should partner with a TSP to protect your electronic documents.

  • Save time especially when you are dealing with high-volume international transactions. TSPs ensure document signing occurs simultaneously, regardless of where signatories are located.
  • Easily sign and validate electronic documents. This is great news for banks, leasing companies, and other institutions that handle large amounts of documents.
  • Electronic seals and time stamps - which are only provided by TSPs – are equally as valuable as e-signatures. They can be used in a court of law as evidence.
  • A TSP will ensure that you receive an error-free, tamper-proof, and accurate document. This reduces the risk of a fake certificate getting into your folder and also decreases security vulnerabilities.
  • Trust is the foundation of all business relationships. TSPs adhere to strict quality and security standards, so you can be sure that your commercial transactions will remain secure in the face of litigation.
  • You don't have to look through your ledger books if you need to find the date and time at which a document was signed. All electronic documents are provided with proof that the date and time at which they were signed. Your electronic document can't be challenged if your business partnership is in dispute.

Summation: Stay ahead of security threats with TSPs

The international laws regarding the validity and security of electronic documents are becoming more strict by the day. TSPs offer the best way for enterprises to avoid fines and remain ahead of security threats in this digital world.

Are you looking for a digital signature solution?