Getting clients to sign documents has become a real challenge for banks, especially since the pandemic hit. For new customers, the process often involved emailing or couriering documents to them. Then, a video call had to be scheduled so the account manager could watch the client sign the papers in real-time. But even after that, there were still follow-up calls and multiple rounds of review before everything was finally wrapped up. It was – and still is – a long, drawn-out process.
And it’s not just banks that are feeling the pain. Many other industries are also struggling with the hassle of manual document signing and the back-and-forth coordination it requires.
The common questions that come into users mind about eSignatures.
Is It Legal?
Yes, it absolutely is.
Over 90 countries around the world have passed laws recognizing the legality of eSignatures. There’s no doubt about whether electronic signatures hold up legally – the global trend toward acceptance is clear. However, the specifics can vary depending on where you’re located or doing business. So, it’s important to familiarize yourself with the rules and regulations in your region.
Here are some common questions you might want answered:
- Are eSignatures legal, acceptable, and enforceable where you function?
- Are there certain types of documents that still require a traditional “wet” signature?
- Do local laws regulate the use of digital IDs or certificates for eSignatures?
- Are there specific documents that need a Qualified Electronic Signature (QES)?
- Does your local government recognize certification bodies or trust services that e-signature users should know about?
- How does the eSignature software you’re considering align with the legal requirements in your region?
Understanding these nuances will help ensure you stay compliant while taking advantage of the convenience eSignatures offer.
Is It Secure?
Yes, but only if you choose the right provider.
It’s ok to have concerns about security when it comes to digital transactions. After all, sensitive data is being exchanged, and trust should be the top priority. To ensure your eSignature solution is secure, you need to look beyond just certifications or passing a basic security audit. Here’s what to consider:
- Selecting the proper level of authentication.
- Using integrated ID verification to ensure signers are who they say they are.
- Protecting eSignatures and documents from tampering.
- Making it easy to verify eSigned records.
- Ensuring the long-term reliability of your digital records independent of the vendor.
- Verifying the vendor has a consistent track record of protecting customer data.
- Creating an end-to-end trusted experience through white-labeling that also adds an extra layer of protection against phishing attacks.
Building Trust with eSignature Software
ID Verification
One of the most important features of eSignature software is its ability to verify a signer’s identity before they access sensitive contracts or high-value agreements. This is done through Identity Document (ID) Verification, which adds an extra layer of security.
The eSignature software offers Identity Document (ID) Verification as a method to authenticate a signer’s identity before granting access to critical contracts and high-value agreements. With Facial Comparison, signers can verify their identity by uploading a government-issued photo ID and taking a selfie. The software then compares the selfie to the photo on the ID, adding an extra layer of identity assurance.
User Authentication
Modern eSignature solutions offer a variety of methods to verify the identity of signers before granting access to documents. These include:
- Email Verification: Confirming the signer’s email address.
- SMS PINs: Sending a unique code via text message for the signer to enter.
- KBA (Knowledge-Based Authentication): Asking personalized, predefined questions that only the signer would know the answers to.
These options make it easy to tailor the authentication process to your specific needs while maintaining strong security.
Robust Document Security
Most eSignature solutions use digital signature technology to tamper-seal documents after each signer and invalidate documents if any changes are made. This ensures the integrity of the eSigned document.
Advanced Audit Trail
The software makes it easy to access details about the transaction to prove compliance. An electronic audit trail is permanently embedded within the eSigned document for easy, one-click verification. An advanced eSign platform provides a single audit trail of the entire agreement process – from identity verification and authentication to e-signature. This includes the ID and authentication check method used and the detailed results of the verification. As a result, you get a full picture of the transaction with strong identity assurance to be compliant.
With this level of detail, you get a complete picture of the transaction, ensuring strong identity assurance and full compliance with legal and regulatory requirements.
Customizations
Customizing the signing experience is one of the best ways to protect your brand, build trust with your customers, and boost adoption rates. A good eSignature platform allows you to personalize every aspect of the process, including:
Branding Elements: Adjust colors, logos, and the visibility of headers, footers, and navigation bars to match your brand.
Email Notifications: Tailor the content, tone, and design of emails sent to signers.
User Interface: Customize dialog boxes, error messages, and other on-screen prompts to create a seamless and professional experience.
By taking control of these details, you can create a signing process that feels familiar and trustworthy to your customers while strengthening your brand identity.
eSignature software doesn’t just streamline workflows – it builds trust by ensuring security, transparency, and a personalized experience for everyone involved.
