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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