Jorg Reinking (Secourriel) : Security liaison
Jorg Reinking, CEO of Secourriel, shares with us his views on transformation in the financial ecosystem and the importance of secure messaging. Interview.
What can you tell us about you?
I’m a passionate entrepreneur with 20+ years of experience in the financial industry and having led various strategy and IT projects. I moved from Germany to Luxembourg in 2014 with my business consulting firm. Now, I have decided to create a cybersecurity FinTech.
Why did you create Secourriel?
For more than 20 years, I have been working on confidential topics in the finance industry. There is a high demand for secure communication, contracts, client data, business secrets. On the other hand, I very rarely find people using encryption. In one of my latest projects, MiFID 2, I found out that banks use protected eBanking with retail clients, but all the B2B and institutional client communication is exchanged via open email – this came as a surprise to me as encryption standards have been available for more than 15 years. Why? It is simply not convenient and not very practicable in tweaked corporate workflows when communicating with 3rd parties. The easiest workaround was automated printing for the legally binding communication. The lowest standard but robust.
With MiFID 2, the investment advice process is being turned upside down and banks queue advised business while waiting for clients’ confirmation. Most private banking clients live outside Luxembourg. Banks lose business with paper-based communication and with the new EU data protection regulation, GDPR, non-secured emails will not be an accepted practice anymore.
2018 is the game changer, and with Secourriel, I created a solution that enables the financial ecosystem to undergo the transition from paper to trusted electronic communication.
" Nothing is more powerful than an idea whose time has come"
Victor Hugo
Do you think email is still safe?
It never was, but people did not care. Now they have to. Behaviours are changing already and cybersecurity solutions are widely sought-after. There are so many and costly security breaches. But small companies and private individuals are overwhelmed with implementing security measures that work, and large companies try to dictate their security standards to their clients and counterparties – this doesn’t work either. The solution must work even for the weakest element in the chain or there is no security at all.
Secourriel provides the gold standard of secure messaging, where convenience is key without compromising on security. This is coming along with a suite of admin functions including: receipts issued by a trusted and neutral party, read evidence, delegation, audit trail – just the gold standard. With these enhancements, email and chat will be fortified and will remain the backbone of electronic communication for a long time and to the good of everybody.