Authentication Methods Used With eSignatures
In some cases, you may need to use more robust authentication methods. The good news is that these can also be configured to support your workflow.
An electronic signature (ES) is a legally binding document created by typing or electronically pasting your name. It is often accompanied by other security measures, which help ensure the validity of the document.
Authentication Methods for eSignatures
Many companies utilize eSignatures to digitally transform contract lifecycle management. By using a platform that allows them to send documents for signature, track signatory completion, and integrate everything directly into a centralized repository, they can mitigate fraud risks and ensure that contracts are executed by the right person. However, for an eSignature to be considered legally binding, it must be backed by some form of authentication.
Different countries and regions have their own specific laws that dictate the level of security required for eSignatures to be considered valid. In the EU, for example, it is necessary to follow eIDAS regulations to guarantee the authenticity of an electronic signature.
Authentication methods include things like a PIN number, password, or other verification code that is entered on a screen to identify the signatory. In addition, there are more secure methods such as biometrics, which use physical or behavioral traits to confirm a person’s identity and prevent spoofing or forgery. Biometrics can include fingerprint, iris, facial recognition, or voice recognition.
Finally, there are also a variety of authentication methods that use cryptography to protect eSignatures and verify the identity of the signatory. This type of technology makes hacking difficult, as it requires a large amount of computing power to break the encryption and read the contents of the signature. For even more security, some eSignature solutions use quantum-resistant cryptography to ensure that they are secure against attacks leveraging quantum computing.
SES
As its name suggests, SES is the simplest type of esignature. It does not include any identity verification and is not legally binding in most cases. This type of eSignature is useful for documents that do not require rigorous compliance or security standards, such as simple record management and accessing government services online.
The SES authentication method is not strong enough to protect sensitive or confidential data and does not comply with regulatory standards. To be considered a legal signature, it must be verified through a Qualified Trust Service Provider (QTSP) who verifies that the person signing is the document creator. QTSPs are a standard element of most eSignature solutions and are necessary to meet international regulatory requirements such as the European Union’s eIDAS regulation.
When selecting an eSignature solution, it is important to consider the business needs and how the solution will integrate with existing documentation workflows. The solution should also be able to validate the legitimacy of signatures and prevent document tampering or fraud by providing features such as an audit trail and geolocation data. It’s also important to ensure that all staff, from frontline employees to the CEO, will be comfortable using an eSignature solution. This will make adoption easier and help to ensure that the solution is successful in meeting the company’s goals.
AES
Authentication is one of the most important aspects of an eSignature because it ensures that you are who you say you are when you sign a document. It also prevents others from signing on your behalf, safeguarding against unauthorized use of your signature.
There are three different types of eSignatures: Simple Electronic Signatures, Advanced Electronic Signatures and Qualified Electronic Signatures. The difference between these is the level of validation they provide. Simple Electronic Signatures (SES) are the easiest to create but they offer only a minimal amount of validation. Advanced Electronic Signatures are more secure and allow you to identify the signatory. Qualified Electronic Signatures have the highest legal validity of the three and are based on a certificate that uniquely identifies the signatory.
The key to choosing the right eSignature is to evaluate your company’s needs. Smaller companies handling fewer customer transactions on a daily basis may be able to use a simple solution like adding a signature line in an email or PDF file. In contrast, larger companies managing numerous signature-intensive documents each day will benefit from intuitive, mobile-optimized eSignature solutions that efficiently and effectively manage the entire process. This way, you can ensure that your business is following all digital signature and authentication protocols set by eIDAS and AML. This includes ensuring that your signature is tamper-proof and that it carries all of the same weight and import as a physical one.
QES
An e-signature is a digital way of signing a document instead of using a pen and paper. It is legally binding in most countries and helps you to easily send, sign and store documents online.
The three types of e-signatures include different levels of verification to make sure that the person signing the document is who they say they are. Simple e-signatures don’t include any identity verification and are therefore only suitable for low-risk use cases, such as attendance sheets. Advanced e-signatures offer more verification and are ideal for document signatures that require a high level of security, such as employment offers letters. The most secure e-signature is a qualified electronic signature (QES).
A QES uses multiple methods to verify the identity of the person who signed the document. This includes identity verification via a mobile app, username and password, or video call where the person presents a valid driver’s license or other official ID. This multi-factor authentication process creates a unique audit trail for each qualified electronic signature and makes it legal to treat them as equivalent to handwritten signatures.
It is important to weigh up the cost and convenience of each type of e-signature against the level of validation that you need for your document workflows. For example, it may be worthwhile to invest in QESs for the most high-stakes documents but to rely on SESs and AdESs for simpler document signature needs.