The Swedish Export Credit Agency (EKN), a public authority, was facing the challenge of streamlining and implementing secure digital signatures in order to simplify for Swedish companies to make deals on foreign markets. With the signature service SignPort now in place, EKN has a robust and secure solution for electronic signatures and the authority’s guarantees contribute to making difficult markets* more accessible. Between October 2020 and September 2021, EKN has contributed to Swedish exports to difficult markets increasing by over 28 percent.
Swedish companies that do business with countries that have low credit ratings can use the help of EKN to minimize the risk of non-payment or other types on contractual breaches.
EKN’s task is to promote Swedish export and responsible business methods and minimize the risk that Swedish companies are subjected to crimes in this area.
*A difficult market is one where the country has a low credit rating, making it problematic and very hard for Swedish companies to do business with that country.
EKN needed to streamline and simplify secure digital signing of contracts. Together with other important partners, we supported EKN with improving their infrastructure for digital contracts. Our assignment was to implement SignPort, a service developed by us in-house, which makes it possible for administrators and external parties to securely and efficiently sign digital contracts, without having the contracts leave EKN’s operative environment.
EKN has high demands and chose our solution SignPort, which is tested by the Agency for Digital Government and the Swedish Legal, Financial and Administrative Services Agency. It is easy to integrate with existing e-services and fulfils DIGG’s technical framework and normative specifications for signature services and the EU regulation on electronic idenfication, eIDAS.
With SignPort in place, EKN now has a reliable solution for electronic signatures. It contributes to making the authority’s requested guarantees for difficult markets more available and enables more secure export deals to around 140 countries worldwide. Since the implementation, EKN’s contributions to Swedish exports on difficult markets have increased from 28 percent to 36 percent. The solution also contributed to streamlining contract management and decreasing usage of physical paper contracts at EKN. In 2022, the collaboration was renewed and will continue for another four years.
SignPort is one of several components in the EKN ecosystem for secure electronic signatures and contributes to promoting Swedish exports on difficult markets.
Contribution to goal 9: Purchasing countries are given the possibility to make investments thanks to EKN’s guarantees. To achieve the goals in Agenda 2030, investments in low-cost countries and difficult markets are needed, for instance in infrastructure, electrification, farming, environmental technology, and the health sector. These are areas where the Swedish industry is at the cutting edge and can play a significant role in development. Export contributes to spreading Swedish innovations and technology (goal 9).
Contribution to goal 12: EKN also has requirements on exporting companies to conduct responsible business. This means that companies must take responsibility for risk management that might impact on people, the environment, and society in the countries where Swedish goods are used. Swedish export credit systems make it possible for EKN to work with export companies to make requirements on customers that buy Swedish equipment. This leads to improved production and work conditions, which in the longer term will contribute to more sustainable production patterns in various industries and countries (goal 12).
