Six E-Signature Security Requirements for Digital Transactions

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Digital Signatures as Part of E-Signature Security

People often assume that digital signatures and electronic signatures are the same, however, they are actually two different things. An e-signature is a legal concept, while a digital signature is a security technology. If an e-signed document is modified or tampered with in any way, the digital signature technology will detect it and indicate that the document has been altered. Digital signatures are therefore the foundation of any reliable electronic signature and a core requirement for a trustworthy solution. This is a unique and significant advantage over the paper world, where it is not always possible to detect whether changes have been made to a document.

The electronic signature market has been around for more than 20 years, but it has seen significant expansion and adoption in the past decade. Highly regulated industries like financial services, insurance, government and health care have led the charge when it has come to implementing this technology because of its ability to enable digital business while keeping processes secure and compliant. Recently, the industry has experienced increased growth in the mid-market as even more small- to medium-sized businesses have started adding e-signatures to their customer-facing processes.

A December 2015 report from Forrester Research, "E-Signatures – A Few Simple Best Practices Drive Adoption" (access requires subscription), attributes this recent increase in adoption to the fact that as customers become more digital, they increasingly expect the companies they do business with to provide high-quality digital experiences. Replacing manual, paper processes with ones that are automated and electronically signed has enabled organizations of all sizes to significantly reduce cycle times, errors and costs while offering the experience customers expect.

As more businesses transition their customer transactions to the web, security is understandably a top concern. When organizations are looking at various e-signature vendors, it is not enough to simply look for an e-signature that is "ESIGN compliant" or has a certain security certification. Taking a broader view of e-signature security will help companies strengthen their legal and compliance position while ensuring maximum adoption. In this slideshow, Silanis, provider of e-SignLive, takes a closer look at the top electronic signature security requirements for digital transactions.

 

Related Topics : Unisys, Stimulus Package, Security Breaches, Symantec, Electronic Surveillance

 
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