The business justifications for Electronic signing are pretty much a no brainer and embedded into digital transformation. But are you doing this in the best and most cost-effective way? Are you concerned that you are simply replicating an old solution in a digital way?
In 2018, it was estimated by multiple sources that 95% of document ‘Signings’ are done in the most basic way, simply scanned graphics inserts or even just typed text. There have also been well-documented court cases of these not standing up in Court as a written contract would. In addition, the document could be from anybody, sent in clear text over the internet (GDPR), tampered with or similar.
So how we can make our electronic signatures trustworthy?
Have you heard of eIDAS? What is it and how it can benefit us?
It regulates electronic signatures, electronic transactions, involved bodies, and their embedding processes to provide a safe way for users to conduct business online like electronic funds transfer or transactions with public services. Both the signatory and the recipient can have more convenience and security.
Generally, eIDAS asked EU countries to use trusted electronic signatures to build trusted and safe transactions for users to make business across the EU.
What are the e-signatures types in the market now? And which are eIDAS compliant?
Generally, here are 3 types of e-signature types in the market:
1) E-signatures: cannot verify the authenticity of the documents, signatures can be altered in transit.
2) Digital signing by platform (Adobe sign & DocuSign): can verify the authenticity of the documents but it can not verify the identity of the signer. Please see the example below:
3) Digital signing by personal certificates: can verify both the authenticity of the documents and the identity of the signer. Please see the example below:
The eIDAS Regulation (Now EU Law) defines three types of electronic signature – ‘electronic signatures’, ‘Advanced’ and ‘Qualified electronic signature’.
We recommend users use the third type of e-signatures which provide the high assurance of the signature bring more trust for your online transactions and help to bring the credibility to stand up on the court.
MeSign is a simple easy-to-deploy solution that uses electronic signatures, providing qualified electronic signatures with high assures. In addition, it speeds up workflows increases revenue and integrates with your digital strategy.
For more information and free demonstration e-mail firstname.lastname@example.org or call us at +44-20-7993-8937 or visit our MeSign Websites.