SAVYINT and ENTRUST Strengthen Collaboration in PKI and Blockchain Development in Vietnam
SAVYINT is a leading provider of best-in-class trusted solutions and services. Its strategic partnership with ENTRUST to develop PKI and Blockchain systems marks significant progress in the quality and product offerings of SAVYINT. Founded in 1969 and headquartered in Minneapolis, Minnesota, USA, ENTRUST employs over 2,500 people globally and is a world leader in secure transaction and trusted authentication technology. In 2020, the company rebranded from Entrust Datacard to ENTRUST Corp., with a focus on secure identities, payments, and data protection. ENTRUST has expanded its offerings through acquisitions, including nCipher for hardware security modules (HSM), HyTrust for data security management, and WorldReach for cloud infrastructure, creating a comprehensive product ecosystem with seamless customer experiences. SAVYINT is one of ENTRUST’s key partners in providing security and digital identity solutions. The collaboration includes the development of ENTRUST’s products such as: During a recent meeting between ENTRUST and SAVYINT, Chris Siah, Director of Digital Security Solutions for ASEAN & China at ENTRUST, emphasized, “ENTRUST’s solutions meet international standards such as eIDAS, GDPR, PSD2, HIPAA, and more. In Southeast Asia, we continue to upgrade our strategic security, encryption, and digital identity solutions to match local market demands and regulations. SAVYINT is a leading brand in Vietnam’s IT sector, and we are confident that this partnership will drive ENTRUST’s further expansion in Vietnam.” Mr. Van Hoang Nguyen – Chairman of the Board of SAVYINT, added, “Post-COVID-19, the market for cross-border digital transactions is primed for growth. The expansion of PKI and Blockchain applications in healthcare, education, and finance is advancing rapidly, driven by the vibrant digital transformation in Vietnam. SAVYINT is the first in Vietnam to achieve QTSP certification for providing electronic signature and remote signing services that comply with the EU’s eIDAS regulations. This is a key competitive advantage as SAVYINT’s services are recognized across 27 European countries. With our strong foundation and ENTRUST’s top-tier products, we look forward to even closer collaboration in the future.” SAVYINT is solidifying its leadership position in the digital signature market, gaining certifications for key services like TrustCA Timestamp and TrustCA Qualified Remote Signing. This partnership between SAVYINT and ENTRUST promises to deliver comprehensive security for digital signature applications, electronic identity and authentication systems, and Blockchain, fully complying with both Vietnamese and global information security regulations.
Digital transformation with Smart eContract
Electronic contracts are considered a foundational solution for enterprise digital transformation, serving as a crucial step in driving the growth of contactless electronic transactions. Digital transformation is not just a trend but a mandatory requirement in the digital age. Many businesses, especially small and medium-sized enterprises, are accelerating their digital transformation to join the Industry 4.0 wave. However, the reality is that not all businesses succeed. According to a McKinsey report, over 70% of businesses fail in their digital transformation efforts. Lack of leadership commitment, insufficient knowledge of digital transformation, and shortages of resources and finances are common obstacles faced by many Vietnamese businesses. In particular, the biggest bottleneck for many businesses is a lack of information about digital technology. Many business owners do not know what digital transformation is, where to start, and which technologies and solutions are best suited for their business. Electronic contracts as a lever for digital transformation Applying appropriate digital processes and technology solutions helps businesses optimize operations and gradually achieve solid digital transformation. In this process, businesses need to identify that the first and most important step in digital transformation is to digitize documents, build an electronic document system, and thereby form a paperless digital working environment. And contracts are one of the important documents that need to be prioritized when digitizing processes. Regarding electronic contracts, the legal framework has been and continues to be perfected. The Law on Electronic Transactions No. 51/2005/QH11 recognizes the legal value of electronic contracts: “The legal value of an electronic contract cannot be denied solely because it is expressed in the form of a data message.“ In addition, Article 33 of the Law on Electronic Transactions 2005 requires an electronic contract to meet the following conditions to be considered valid: Smart eContract – Intelligent electronic contracts for all businesses Smart eContract is an electronic contract solution developed by SAVYINT to serve the needs of digitizing and automating electronic contract signing processes for all organizations and businesses on multiple platforms (software, apps, web, etc.). Parties to an electronic contract do not need to meet in person, saving time and avoiding risks related to the transportation and storage of paper documents. Automated processes, 100% paperless With just a single software, businesses can create documents, customize approval processes, digitally sign contracts, send, receive, and store electronically, ensuring a seamless, automated, and 100% paperless process. Review, edit, and sign anytime, anywhere Smart eContract allows for easy use on mobile devices such as laptops, tablets, and mobile phones. In addition, the software supports common digital signature forms such as USB tokens, remote signing, and mobile device signing, helping organizations and businesses operate easily, intuitively, and process documents and sign contracts anytime, anywhere in just a few minutes. Save up to 90% of time and costs With a traditional paper contract, businesses have to bear various costs such as: operating costs, printing, transportation, and manual storage costs. Not to mention the loss, dependence on third-party carriers, or other objective factors that can cause the contract to take many days to complete. If applying electronic contracts, all operations can be performed on a network environment. As a result, the contract signing process is not interrupted, minimizing risks due to the usual delivery process, and shortening the processing time to the maximum for organizations and businesses. Ensure legality, reliability, integrity, and accessibility The Smart eContract intelligent electronic contract software allows the standardization of input digitized documents into documents with formats such as TIFF, PDF/A, and also supports advanced signature standards such as CAdES, PadES, XadES, and integrates with the TrustCA Timestamp digital signature and long-term validation technology standards LTV, LTANS to serve long-term storage and authentication of electronic documents, thereby ensuring the reliability and integrity of signed electronic certificates. Smart eContract – FAST, SAVING, SECURE! Contact SAVYINT today to own a quality electronic contract solution!
Smart eContract – Smart and secure contracts at all times
In today’s era of information technology, traditional contracts are gradually being replaced by electronic contracts due to their convenience, intelligence, and speed. There’s no need for in-person meetings or waiting for physical documents to be delivered—all contract processes are handled within a single management system. What is an electronic contract? Legal value of electronic contracts An electronic contract, as defined in Article 33 of the 2005 Law on Electronic Transactions, is a contract established in the form of a data message, executed through electronic means, magnetic devices, cloud computing, or digital technology. Electronic contracts offer an optimal solution, allowing businesses to sign contracts remotely, anytime, anywhere—especially during the complexities of the COVID-19 pandemic. However, to fully capitalize on this tool, businesses must understand the legal framework for signing and executing electronic contracts. From a legal standpoint, electronic contracts hold the same value as paper contracts and cannot be denied simply because they are in data message form. Additionally, an electronic contract must meet the following criteria: What advantages do electronic contracts have over traditional paper contracts? Electronic contracts offer significant advantages over traditional paper contracts, particularly during the COVID-19 outbreak. The table below highlights these advantages: Electronic Contract Traditional Paper Contract Process – Online, automated, fully paperless – The offline process is complex and manual.– Involves a lot of paperwork, making storage and management challenging. Form Electronic system, no paper Traditional paper-based documents. Method – Signed via computers, tablets, smartphones – Remote signing anytime, anywhere – Ability to sign multiple contracts simultaneously – Hand-signed with a red stamp on physical paper contracts.– Each contract must be signed and stamped individually. Content In addition to tradition Unlike electronic contracts that may include additional agreements such as technical requirements, electronic signature verification, and integrity/security conditions, traditional contracts generally cover: – Technical requirements – Electronic signature verification – Integrity and security conditions – Contract parties;– Quantity, quality;– Price and payment methods;– Duration, location, and method of contract execution;– Rights and obligations of the parties;– Liabilities for contract violations;– Methods of dispute resolution. Signing method Electronic signature, digital signature Handwritten signatures. Contract storage Centralized, highly secure storage, easy to search for documents – Stored in physical warehouses, posing significant challenges to document security.– Requires substantial space and effort to store paper documents.– Vulnerable to risks such as loss, damage, deterioration, or pest infestations.– Difficulty in locating and retrieving documents.– Security systems are unreliable, making it hard to control and manage. Cost Saves up to 90% in time and costs Completing a contract takes a long time, and costs associated with delivery and storage are high. – No need for printing, shipping, or physical storage – Flexible signing times and locations – Time is wasted waiting for customer responses before continuing with the transaction process.– Heavily dependent on leadership schedules, as signatures often require waiting for their availability.– Significant delays in delivering contracts between parties, with a high risk of loss or misplacement. Smart eContract – A smart and secure electronic contract solution Electronic contracts have many advantages over traditional contracts, but risks remain, such as verifying the signer’s identity, signing time (in cases where digital certificates expire), document accessibility (due to technological changes), and data integrity (modifications after signing). Smart eContract addresses these challenges by integrating advanced security features such as timestamping, AdES advanced signatures, and long-term validation (LTV, LTANS), ensuring the highest levels of fraud protection and legal validity in electronic storage. This solution meets the automation needs of organizations and businesses for electronic contract signing, anywhere and anytime, while complying with Vietnam’s Ministry of Information and Communications Circular No. 16/2019/TT-BTTTT and international eIDAS standards. By automating processes from document creation, signing, storage, to transport and extraction, Smart eContract helps organizations quickly build a paperless working environment that is cost-effective, safe, and maximally secure. Contact us for immediate consultation! SAVYINT is the first provider of remote digital signing services, offering a full range of basic, advanced, and long-term validated digital signing solutions.
SAVYINT and Konsentus accelerate open banking in Vietnam
Hanoi and London, 8 March 2024, SAVYINT and Konsentus have created an operational structure for open banking in Vietnam. SAVYINT, one of the country’s leading providers of digital capabilities, and a key supplier of technology services to the Vietnamese financial services community, engaged Konsentus, a global provider of open banking advisory services and trust infrastructure, to collaboratively create a legal and operational framework for open banking. In support of the country’s vision to develop an advanced and high-quality connected digital society for all individuals by 2030, SAVYINT sought support from Konsentus to create a framework for an innovative and cutting-edge open banking infrastructure to enable further growth and development. Konsentus has worked collaboratively with SAVYINT to: This open banking framework will provide the foundational bedrock for open banking in Vietnam and will allow the market to take the next step towards an open data-sharing ecosystem It puts the nation amongst other market leaders in the region. Konsentus, advisors to central banks, regulators, and market infrastructures, is renown internationally for providing expert support to help jurisdictions shape the future direction of open finance. They work with, and for, the local market to champion accessibility to financial services and drive competition, innovation and financial inclusion. SAVYINT provides trusted digital products, solutions, platforms and services in strict compliance with Vietnamese and international standards. Their transformation solutions support all industry verticals ranging from government and healthcare to BFSI and telco. Mr. Van Hoang Nguyen – Chairman of the Board of SAVYINT “Open banking can enable economic growth and social development. It provides a comprehensive view of all financial data to customers and enables businesses to access a wider range of financial services. Banks cooperate with third-party providers to optimise the user experience when using financial products and services. With open banking ecosystem, consumers can execute direct payments to merchants from their bank accounts, eliminating the necessity for card-based transactions. Konsentus has been a crucial partner in understanding global best practice and defining the appropriate structure for the Vietnamese market. We are sure that what we’ve delivered together is tailored for the market and will set the country up for future success.” Jim Wadsworth, EVP Strategic Market Development, Konsentus “Our international footprint and in-depth understanding of global open banking ecosystems has enabled us to streamline processes and develop a framework tailored to local Vietnamese market requirements. Vietnam is a burgeoning economy but 44% are still unbanked and 70% still live in rural or remote areas. Open banking can support financial inclusion and the broader digital transformation agenda. Konsentus looks forward to supporting Vietnam on its open banking journey.” About SAVYINT SAVYINT is a leading provider of trusted digital products, solutions, and services with deep expertise in PKI systems, digital signature solutions, data encryption/privacy, open banking, blockchain & key management, cybersecurity services and AI and cloud applications… Committed to international standards, SAVYINT delivers top-tier solutions designed to meet the highest security and compliance requirements. Its advanced technical infrastructure supports digital transformation across diverse sectors such as government, healthcare, finance, education, logistics, transportation, telecommunications, and broadcasting. With a strong focus on innovation and security, SAVYINT is a reliable partner for organizations seeking to enhance operational efficiency and data security in the digital era. About Konsentus Konsentus provides specialist advisory services and technology solutions to support the national implementation of open finance ecosystems. Subject matter experts, Konsentus advisors have a proven track record in navigating complex, multi-stakeholder ecosystems and understanding individual regulatory and market requirements. Konsentus’ award-winning technology powers national open finance infrastructures. Modular and scalable by design, our solutions are tailored to individual market requirements, enabling ecosystem participants seamlessly to identify each other and interact within a safe and trusted environment. Founded in 2018, Konsentus is active across 37 markets and counts many of the largest global financial institutions as clients. Konsentus is ISO 27001 certified.
SAVYINT and Wultra strengthen partnership to develop authentication solution
On April 17, 2024, SAVYINT and Wultra entered into a collaboration to develop and implement authentication and compliance solutions for digital banking and financial services, aligning with Decision 2345/QĐ-NHNN. Accordingly, both parties pledge to collaborate closely in fostering the development of cutting-edge authentication solutions that adhere to the stringent security standards and regulations mandated for clients in the Finance, Banking, Insurance, Securities, Healthcare, Digital Media & Broadcasting and Government sectors. Wultra will provide advanced authentication, identity management, data security, and privacy solutions for SAVYINT’s digital solutions and services, encompassing: SAVYINT’s enterprise customers can now leverage the most cutting-edge authentication platform to enhance end-user experiences, safeguard data privacy and minimize e-commerce transaction risks. In addition to these core offerings, SAVYINT is also focused on accelerating the development of innovative platforms and solutions, including: By seamlessly integrating and developing these solutions, SAVYINT and its partners can achieve comprehensive improvement and enhance their business operations. Mr. Ondrej Kupka – A Wultra representative has emphasized SAVYINT’ position as a crucial strategic partner, citing the company’s comprehensive Digital Signature Solution and Open Banking Platform. The representative stressed that this collaboration will benefit both parties and foster market growth. Wultra’s comprehensive authentication solution fully complies with the legal requirements outlined in Vietnam’s Decision No. 2345/QĐ-NHNN. About SAVYINT SAVYINT is a leading provider of trusted digital products, solutions, and services with deep expertise in PKI systems, digital signature solutions, data encryption/privacy, open banking, blockchain & key management, cybersecurity services and AI and cloud applications… Committed to international standards, SAVYINT delivers top-tier solutions designed to meet the highest security and compliance requirements. Its advanced technical infrastructure supports digital transformation across diverse sectors such as government, healthcare, finance, education, logistics, transportation, telecommunications, and broadcasting. With a strong focus on innovation and security, SAVYINT is a reliable partner for organizations seeking to enhance operational efficiency and data security in the digital era. About Wultra Wultra is a global pioneer in authentication, information security, and data privacy solutions. Wultra serves as a digital financial guardian, empowering banks and fintech companies with modern, easy-to-deploy authentication solutions that elevate customer experiences. As a trusted partner with an open-source, developer-friendly approach, Wultra’s solutions can be implemented in weeks, not months. Wultra has established itself as a leading provider of digital banking security in the Czech Republic. The company is actively expanding its international market strategy.
SAVYINT collaborates with Google Cloud on AI, Blockchain, and Cloud applications serving digital government, digital economy, and digital society
SAVYINT collaborates strategically with Google Cloud to bring cutting-edge technologies such as AI, Blockchain, Cloud, and Fintech from the world’s leading tech giant into Vietnam’s information systems, supporting the development of a digital government, digital economy, and digital society. Google Cloud Platform is a cloud computing service that allows organizations and businesses to build, run, and manage applications on the cloud. Beyond being just a cloud infrastructure, Google Cloud provides a comprehensive suite of services and applications to enable organizations and businesses to migrate to the cloud in the most efficient and secure way. With over 30 years of experience in technology development, data collection, and analysis, Google Cloud has built solutions that help customers accelerate their progress. Google Cloud Platform offers all the solutions and services businesses need to “move to the cloud,” including Hybrid & Multi Cloud, Cloud CDN, Data Cloud, Open Cloud, Generative AI, Machine Learning, Big Data, Data Analytics, and more. AI is at the core of Google’s DNA. Over the past two decades, Google has harnessed the power of AI to organize the world’s information and make it universally useful. AI has enabled Google to solve the most complex challenges. The partnership between a global leader like Google and SAVYINT represents a perfect collaboration, driving the adoption of digital technologies to modernize Vietnam’s digital government, digital economy, and digital society. At a recent meeting between SAVYINT and Google Cloud, Mr. Nguyễn Đức Toàn, Country Director of Google Cloud Vietnam, and Mr. Vamsi, Google’s regional representative, introduced Vertex AI and Google’s LLM (Large Language Models), discussing with SAVYINT the implementation and application of these models within Vietnam’s governmental systems. To support the government and businesses in building secure and robust systems, Google Cloud has integrated Generative AI into Vertex AI. Vertex AI is a machine learning platform that helps developers deploy and maintain AI models more easily. For Vietnam’s government, combining Vertex AI with LLM (Large Language Models), which are deep learning models trained on vast amounts of text data, will create smart, responsive technology solutions for search engines and recommendation systems on current websites and software. These advanced technologies are being applied to develop a comprehensive digital financial and digital economy ecosystem, including foreign affairs portals, investment and tourism promotion gateways, digital platforms for agricultural product consumption, retail, household businesses, digital solutions for healthcare, education, and SMEs, as well as cross-border e-commerce platforms to manage customers, operations, and supply chains. According to Mr. Hoàng Nguyên Vân, Chairman of SAVYINT, with expertise in Open API, Fintech, PKI systems, and chatbots, along with technology partner Google Cloud, SAVYINT is focused on building digital platforms to serve the digital government, connecting citizens, businesses, and state agencies, and developing integrated digital finance, digital healthcare, and digital education systems. The strengthened collaboration between SAVYINT and Google Cloud marks significant progress in improving product quality, aiming to create high-tech solutions.
SAVYINT becomes the first senior partner of nCipher in Vietnam
The nCipher APAC Channel Partner Conference, held from October 22–25, 2019, in Ho Chi Minh City, gathered nCipher’s most important partners from across the Asia-Pacific region. SAVYINT attended the event as nCipher’s first senior partner in Vietnam. nCipher is a market leader in providing Hardware Security Modules (HSM) for key management and encryption, and a subsidiary of Entrust Datacard—a global leader in trusted identity and secure payment solutions. With over 400 partners worldwide and offices in more than 94 countries, nCipher leads the way in encryption technology. The nCipher APAC Channel Partner Conference is an annual security-focused event for the Asia-Pacific region. In 2019, the conference was held in Ho Chi Minh City for the first time, bringing together nCipher’s top regional partners. SAVYINT participated not only as nCipher’s first senior partner in Vietnam but also as a partner of Entrust Datacard, providing Public Key Infrastructure (PKI) systems and Mobile ID/Mobile Signing/Remote Signing solutions, compliant with eIDAS standards from SAFELAYER—Entrust Datacard’s subsidiary in Vietnam. At the event, Mr. Hoàng Nguyên Vân, Chairman of the Board of SAVYINT, shared insights and proposed product and solution development directions for nCipher, based on customer needs and Vietnam’s regulatory framework. He also expressed a desire for nCipher to establish a training center in Vietnam to enable partners and clients to receive regular, easy access to product and technology updates. SAVYINT is currently collaborating with nCipher to offer products such as nShield Connect, nShield Solo, nShield Edge, nShield Cloud, and comprehensive solutions for Code Signing, TimeStamp Signing, across all digital services and applications, including Blockchain, e-Payments, POS, e-Wallets, e-Invoices, e-Signatures, Remote Signing, Mobile Signing, electronic documents, and data encryption. Key digital transformation solutions in Vietnam, including Go Invoice (e-Invoices), Trusted Archive (Big Data-based digitalization and electronic archiving), and SAVYINT BPM Paperless (automated process and digital document management solutions), have been successfully implemented by SAVYINT for major clients in sectors such as Digital Government, Digital Enterprises, Digital Broadcasting, Digital Banking, E-Health, Telecommunications, IoT, and Smart Cities. In the current wave of rapid digitalization, the demand for data security solutions is rising due to stringent global data protection regulations such as the General Data Protection Regulation (GDPR) and the European Union’s eIDAS for secure signing and trusted services. Becoming the senior partner of a global leader in hardware security modules (HSM) like nCipher is a pioneering move for SAVYINT. The collaboration between SAVYINT and nCipher will provide comprehensive integrity and security for critical customer applications and information systems, ensuring full compliance with both Vietnamese and international data security and information protection regulations.