What is an electronic signature platform?
You are working in an area where legal requirements are very strict.
J.S.: It's a big advantage for us. Our business as a trusted third party has always had its roots in the law and continues to evolve in line with the law. The company was created as a result of electronic signature regulations. The first directive in this area dates from 1999, and it was transposed into French law in 2001. In 2014, the directive was repealed through a regulation that has applied to all EU member-states since 2016. The rules under the new regulation are much clearer, and it has resulted in the most reliable providers being awarded European labels. This provides an extraordinary opportunity for development on a pan-European scale. We have just set up our first subsidiary outside France. In addition, by 2018, new digital identity regulations will be introduced, in particular to combat money laundering. We have made major progress in this field already.
There are a number of companies with the digital signature label. What is the difference between them?
J.S.: Naturally, they compete in technical and price terms, but today, as well as the legal validity of the signature, our customers are also looking at service quality, the simplicity of the customer interface and the ability to integrate our solution with their IT systems. We have a very strong position in these services, in which we have invested heavily in the last few years.
Are your development needs behind your decision to link up with Crédit Mutuel Inovation as an equity investor?
J.S.: Only partly. Although we wanted to secure financing, we also wanted to reassure large customers that we are a solid company. They know that our technologies are solid, but that's not enough. We wanted to join forces with an institutional investor that is well known, reliable and stable. Crédit Mutuel Innovation (formerly CM-CIC Innovation) has huge capabilities in this area, and is a leading player in its market.
What the partner says
Crédit Mutuel Innovation has been supporting Universign and its CEO since 2013. To lay the foundations for stable growth over the long term, Julien Stern chose Crédit Mutuel Innovation to help him develop his company.
Universign has market-leading technologies in the electronic signature and timestamping of documents, and has developed an online platform that has given it an unavoidable presence in the European market.
Economies are becoming more digital on all levels, and contract formation is part of that trend. Today, when customers take out an insurance policy or a phone plan, it's likely that they will be using Universign's document signature solution.
We were quickly drawn to Julien Stern, who is regarded by his peers as one of Europe's leading experts in electronic signatures. He has a very clear view of the market and how it is developing.
Today, we are fortunate enough to be supporting Universign with its own development.
35 years Average age of the workforce
1000000 electronic signatures per month
40% growth per year