Introduction eSign – Online Digital Signature Service
Nowadays, people love to get everything at their own convenience. The digital landscape is a catalyst for this change. Humans trust and prefer convenience rather than waiting in long queues to get their things done.
Mobility and modernization are pushing for the adoption of eSignature. Online digital signature services offer paperless methods to issue e-sign for organizations and businesses.
What is a digital signature?
You can term it “Electronic fingerprints”. Digital signatures are coded messages that associate a signer securely with a document. These documents are recorded transactions.
Digital signatures use accepted and standard formats. This is called PKI-Public Key Infrastructure. It offers a high level of universal acceptance and security. They are the implementation of specific signature technology (eSignature).
Salient features of online digital signature service
- Instant key destruction after use
- KYC-based authentication for Aadhaar
- Saves time and cost
- Mandate Aadhar ID
- OTP or Biometric-based authentication
- Legally recognized
- Simple signature verification
- Improves the convenience of the user
- Suitable for Government, business, and individual
- API subscription model
- Fast and flexible integration with apps
- Verifiable signatory and signatures
- Easy to apply Digital Signature, and many more.
Benefits of eSign
1. Saves Time
Earlier, it was quite tough to get/ arrange signatures, especially when the person was not present.
For wet signatures, one had to wait for a long time for the person to visit in person and sign. With the introduction of eSign, things have been quite easy. The documents can be signed instantly from any location.
Thanks to the electronic signature, one can avoid tasks that seem tedious. It has made things easier for banks, companies, individuals, etc.
In India, a person can get an eSign service through their registered phone number for Aadhar ID. Check the image below for reference.
2. Saves Cost
Apart from timer saving, electronic signatures can also save a lot on cost. Since there is no requirement for any paperwork, you do not have to invest in ink and paper.
It may not sound that crucial for individuals but counts well for larger enterprises. Especially in the case of those transactions or businesses wherein enormous paperwork is required.
One can also save plenty of travel expenses because of electronic signatures. eSignature eliminates the cost of scanning, printing, and delivery overnight.
3. Signatory and verifiable signature
Authenticating the identity of an individual is one of the top priorities nowadays. Each signature needs to be verified by the signatory to avoid any fraud. With eSign, the verification is done by the signatories by the documents submitted to them.
4. Recognized legally
The e-sign is recognized legally by the Indian Government. It is announced as a great method that facilitates the certifying body to provide electronic signature services to citizens with Aadhaar cards.
You can check the provisions that are related to e-sign on the Information Technology Act, 2000.
5. Quick implementation for decision
It is not an easy thing to enforce decisions in an organizational setting. Multiple documents need to be approved and signed by numerous stakeholders.
The more time it takes to sign the agreement, the more the chances of the decision getting affected. Even sound business decisions can get affected amidst the process.
Adoption of e-sign hastens the formalities that are associated with the process of approval.
The Service of e-Sign
The Indian Government announces this method as a safe option. It gives authorization to the certified authorities to offer e-Sign services. This is especially for those citizens who have an Aadhaar ID.
But, it involved two challenges. They are:-
1. A trusted method for signing
2. Authentication of the user
Aadhaar-based authentication is employed to overcome the challenges of user authentication in India.
How does eSign work?
An e-sign is similar to handwritten signatures. It is unique for each signer. A digital sign is created automatically when a person electronically signs the document. It stays secure with the signer.
You can term it a mathematical algorithm. It is very much like a cipher. In the process, data has been created that matches the signed document. It is termed hash. The digital signature is the resulting encrypted data.
This signature is saved with the time it was created. If the document gets changed after signing, it is invalidated.