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The COVID-19 pandemic catalyzed digital transformation across the enterprise.
Face-to-face transactions were no longer feasible, and organizations needed solutions to move forward with digital operations.
With this rapid digitization of workflows across enterprises, the adoption ofeSignaturessaw a dramatic increase.
But what exactly qualifies as an eSignature, and how do they work?
Senior Vice President and General Manager for Digital Agreements at OneSpan.
What is an eSignature?
At the most basic level, eSignatures are legally binding and operate the same as traditional, handwritten signatures.
The main difference between the two lies in the medium through which thedocumentis signed.
As said before, an electronic signature is, like its paper equivalent, a legal concept.
However, digital signatures are a pop in of eSignature that is built onencryption/decryption technology.
The digitization of our world is driving the adoption of eSignatures.
After adopting eSignatures, they streamlined theirapplicationpaper process from 52 days to 10 minutes.
How do eSignatures work?
What do they offer?
Security:Protection of users and electronic documents against fraud with digital signature encryption.
This tamper seals documents after each signature and visibly invalidates documents if any changes are made.
Enhanced Compliance: Verification of the validity of the signed document and comprehensive end-to-end audit trails in the market.
Secure Digital Storage:E-vault that can preserve the integrity of signed documents during the lifetime of the agreement.
Moreover, deepfakes and other forms of synthetic media are becoming more sophisticated.
But what should they look for in a provider?
White-labeling is also something to look for in a provider.
This term refers to adding an organizations logo and customizing theemailcontent/sender domain to reflect the organizations brand.
A fully branded transaction reinforcescustomertrust and ensures you achieve the highest adoption rates.
They have already begun to move into the realm of a strategic asset to support organizations' digital processes.
That said, its possible to have these secure transactions without sacrificing customer experience.
We’ve featured the best identity theft protection for families.
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