Moldovan Credit Bureau seeks to introduce its product to Azerbaijani market

Moldova's Credit Bureau has created a new generation electronic signature product, spending 30,000 euros, that can also be used in Azerbaijan, Vyeceslav Mirza, the founder and head of the Bureau, said at the First International Conference on Credit Reporting held in Baku, Report informs.

"The path to the electronic signature product took three years. The problem was that there were simply no specialists on the market who could create electronic signatures in accordance with the EIDAS (Electronic Identification, Authentication and Trust Services) standards. Two companies specialized in my product, developed it, but additional knowledge was not enough to adapt this product to EIDAS," he noted.

According to Mirza, there are currently 4-5 players on the market who certify each other: "It is very difficult to enter this system. It is practically impossible to create an EIDAS-compliant product without cooperating with them."

EIDAS is the European Union's standard for electronic identification and trust services. This standard ensures the legal recognition of electronic signatures between member states and aims to increase the security and reliability of digital documents.