There is no question that modern technology has made our lives exponentially easier. However, as we continue to adopt new technologies, we also take on more security risks. When dealing with finances, people want to ensure that their financial institution is taking the extra steps to protect them.
Many times, digital solutions have people questioning their safety. Still, the significant security elements integrated into eSigntures will ensure a safe and secure signing experience for both your financial institution and your customer.
Scammers and malware are constantly becoming smarter, making cybersecurity threats more difficult to thwart. Security and data integrity technologies are built into eSignatures to guarantee that your information is actively handled with the highest level of protection.
When eSignatures were developed, they had to overcome the key obstacle of identifying that the signer was who they claimed to be even in a remote environment. Authentication efforts such as knowledge-based authentication (KBA) and text-code authentication were incorporated to ensure a secure signing experience. These verification methods confirm the signer’s identity and protect the legal enforceability of transactions by providing documented attribution to each party.
Another concern eSignatures had to address was protecting the signing process from start to finish. Throughout the transaction, audit trails of individual activities are created and stored for maximum visibility. Each task during the process is collected and documented, including the IP address of the machine or device being used. Once the documents are completed, the audit file is stored with the signed copies in the financial institution’s imaging or document management system. This collection allows for a secure signing experience, helps ensure the legality of the process, and actually increases your financial institution’s compliance.
If the pandemic has taught us anything, it’s that having practices in place to sustain regular business activity is crucial. The technology behind eSignatures makes the process digitally secure but also physically safe for your customers and employees. With more people worried about their health and safety than ever before, having a digital eSignature option will allow your customers to complete transactions from wherever they please in a safe environment.
eSignatures will elevate your customer’s signing experience without risking their security or the safety of your institution in the process. This more convenient and faster solution doesn’t threaten the authenticity of your organization or customer. It incorporates an ample amount of of checks and balances to assure a seamless signing experience for all.