WISeKey Applies for Independent Identity Provider Status to Support the Swiss Federal e-ID Act

WISeKey Applies for Independent Identity Provider Status to Support the Swiss Federal e-ID Act

An electronic identity (eID) should enable users to identify themselves correctly and securely on the internet

Geneva, Switzerland – February 16, 2021: WISeKey International Holding Ltd. (“WISeKey”) (SIX: WIHN, NASDAQ: WKEY), a leading global cybersecurity and IoT company, today announced that it will apply to receive an independent identity provider status for its WISeID platform for the Swiss Federal Act on Electronic Identification Services (e-ID Act). 

Of note, the Swiss electorate is scheduled to vote on March 7, 2021 to approve the legislation introducing a federally recognized electronic identity, the e-ID, which regulates how people can be uniquely identified on the internet.  Once the e-ID Act is approved, anyone who wants an e-ID must apply through a federally approved identity provider.

The current pandemic situation has further increased the urgency for citizens, companies and organizations to adapt themselves to a new reality where professional interactions with customers and among employees must happen electronically. Nevertheless, this must be done properly in order to not weaken their business process or introduce new security risks.

Using Swiss-made technology, WISeKey’s WISeID Identity platform protects the personal identifiable information (PII) of users, offers strong authentication and encrypted personal vaults to protect digital assets and secure electronic transactions, all of which are significant aspects of the e-ID Act. WISeID users can easily enroll for a digital identity using an online process, which implements a secure identity validation system by capturing the National Identity or Passport documents and performing a live face recognition, using the camera of the computer or smartphone.

The WISeID credential can be reinforced with different options for “Second Factor Authentication” (2FA), which increases security layers as compared to a simple username/password. Currently WISeID supports 2FA with digital certificate, SMS, Dynamic QR-Codes and FIDO tokens. The WISeID Identity Provider is compatible with the OpenID Connect and OAUTH2 standards, which facilitates the integration with any application willing to use the WISeID Identities in their onboarding and login process, with the benefit of automated KYC and high security. In addition to the authentication process regulated by the e-ID Act, WISeID can be enhanced with digital certificates and legally binding electronic signatures.