Legal guarantees lacking to validate future e-signature use, says STS group

- Thursday, June 16, 2011

Legal guarantees lacking to validate future e-signature use, says STS group

Lack of legislation to guarantee electronic signatures' legality is one of the main problems in some Latin American countries that companies and governments need to address, French document management company STS Group's VP for business development, Rodolfo Lomascolo, told BNamericas.

According to Lomascolo, many Latin American countries have successfully adopted electronic signatures and documentation, but lack of foresight for the technology's future validation is still an issue.

"The problem in Chile and other countries in the region is that although we see electronic signature use, there's no legislation to secure the legality of that document in the future," Lomascolo said. "You can add an electronic signature today, but there's no guarantee it will be valid in the next 5-10 years.... That is a problem for us."

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But there are some countries - such as Brazil, Colombia and Mexico - that have legislation to secure electronic documentation, from the government to the business sector.

"We need [to address the issue] now, because businesses and governments are storing electronic documentation, but as time goes by they will realize that the document has lost legal value. We don't see any [legal] initiative to protect the document in the long term," Lomascolo said.

EXPANDING IN CHILE

STS Group is seeking to expand business in Chile by incorporating new clients to offer its electronic storage technology.

In the country, "we work with channels like Sysasap and Secure Data to promote our services, with a business plan for the next three years. We expect to bill US$5mn by the end of that period, and our strategy is to get clients with a big volume of document generation," Lomascolo said.

The electronic storage solution allows for the long-term saving of documents, images or videos with legal signature validation.

STS has 30 partnerships worldwide, including in Chile, Argentina, Ecuador, Costa Rica and Peru.