PARIS, June 20, 2024 /PRNewswire/ -- LuxTrust, a
European specialist in trust services and digital identities, and
Shanghai Genyan Network Technology, a leading provider of digital
identity management, electronic signature and electronic seal
solutions in China, announce their
partnership and create a unique market offering. This new service -
focused on data sovereignty - provides secure and compliant
electronic signature solutions for businesses operating under the
jurisdictions of the European Union and China. The result? Transcontinental
contractual processes are facilitated, accelerated and secured.
Addressing international compliance challenges
LuxTrust, Shanghai Genyan Network Technology and Whale Cloud,
the integrator of Qiyuesuo1, joined forces to simplify
electronic signature processes in complex legal environments. This
partnership enables companies to easily navigate between EU and
Chinese regulations, ensuring compliant signatures despite
stringent legal processes. The current lack of solutions makes
electronic signatures between a Chinese and a European company
overly complex, requiring costly travel and local regulations that
are not always straightforward to understand and navigate. Unique
in its regulatory coverage, this interface offers a seamless user
experience, integrating electronic signature flows into existing
business ecosystems. It also spares users the need to switch
platforms, improving efficiency and reducing errors.
Legal sovereignty and reliability
Thanks to this collaboration, companies benefit from
jurisdictional sovereignty. For each contract, companies sign
within the appropriate jurisdiction: in China for Chinese contracts and in the EU for
European contracts. Companies use their usual platform
(COSI2 for the EU, Qiyuesuo for China) to sign, ensuring compliant and legal
signatures regardless of location. This partnership is unique as it
ensures reciprocal digital identities for each region - Chinese
companies use a LuxTrust digital identity to sign in the EU via
Qiyuesuo, while EU companies use a Qiyuesuo digital identity to
sign in China via COSI. This
approach ensures legal compliance, thereby enhancing the
reliability and legality of international transactions.
For Fabrice Aresu, CEO of
LuxTrust: "This partnership, in collaboration with Shanghai
Genyan Network Technology and Whale Cloud, is a real asset for
European and Chinese companies. It combines the experience and
expertise of leading players in their respective fields, addressing
a wide range of use cases from the military sector to banking, for
small and large enterprises alike."
"We look forward to leveraging the professional expertise of
both LuxTrust and Whale Cloud through our collaboration to provide
electronic seals and contracts that comply with EU and Chinese
legal requirements for business interactions between Chinese and
European companies. Together, we aim to offer legally valid
electronic signature products and solutions to global clients."
said Tang Xingkun, CEO of Shanghai Genyan Network Technology.
Financial benefits for increased efficiency
In addition to operational and legal advantages, the alliance
between LuxTrust and Shanghai Genyan Network Technology also offers
significant financial benefits for businesses. By streamlining
contractual processes, companies can reduce their administrative
costs while maintaining a high level of efficiency and security.
This profitability-focused approach allows companies to achieve
substantial savings while improving their productivity and
competitiveness in the international market.
"As an expert in digital transformation, Whale Cloud is
delighted to drive the integration of Qiyuesuo and LuxTrust in the
electronic signature sector, leveraging our technological expertise
and industry experience. This collaboration aims to drive global
technological innovation and foster seamless integration, setting
new standards for digital trust services worldwide." added
Wu Pan, General Manager of Whale
Cloud for the European region.
Contact email: sophie.renard@lasuiteandco.com
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