Durable medium S3DOC

  • July 24th, 2024
  • News
  • Robert Pardela

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Definition of durable medium

Directive 2007/64/EC:

“durable medium” means any instrument which enables the payment service user to store information addressed personally to him in a way accessible for future reference for a period of time adequate to the purposes of the information and which allows the unchanged reproduction of the information stored;

Advantages of S3DOC solution:

  • Low entry threshold
  • Lowest TCO cost (approx. 40% WORM matrix)
  • Cost does not increase with the volume of documents
  • Low cost of creating performance and reliability clusters
  • A complete IT solution that can be installed on a standard infrastructure
  • The only software solution on the market
  • Flexibility (due to the possibility to modify the source code of the software)
  • API enabling integration with IT systems existing in the organization
  • Compliance with the GDPR (there is a procedure for erasing personalised documents)

Legislation of durable medium:

  • MiFID Directive – Directive 2004/39/EC of the European Parliament and of the Council of 21 April 2004 on markets in financial instruments (Markets in Financial Instruments Directive),
  • PSD – Directive 2007/64/EC of the European Parliament and of the Council of 13 November 2007 on payment services in the internal market (the Payment Services Directive),
  • The concept of durable medium is confirmed by the case law of the Court of Justice of the EU (e.g. the judgment of 27 January 2010 in 2010/C 305/09).

More informations: https://s3doc.com

Robert Pardela

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