IDnow, the identity verification platform provider, has launched two new e-signature solutions to the market.
InstantSign empowers financial businesses to innovate friction-heavy and lengthy signing processes, such as loan contracts, by way of a reusable identity, while eID eSign enables users to verify their identity and digitally sign contracts with the help of Near Field Communication (NFC) technology.
“InstantSign has been proven to reduce drop-offs and accelerate contract completion. With physical signing processes sometimes taking days, our customers can now cut this to mere seconds with InstantSign, by foregoing the printing, signing and return process of a hard copy contract.” explains Vikas Seth, Chief Product Officer at IDnow.
“Additionally, if reverification is needed due to an expired identity document, InstantSign works seamlessly with IDnow’s entire range of identity verification solutions from automated and hybrid, to video, thus keeping identity data up-to-date, and providing a compliant solution for financial services organisations.”
eID eSign allows end customers to quickly verify their identity and digitally sign contracts remotely. IDnow’s eID eSign solution currently works with the German ID card, residence permit or EU citizen card, using a secure, compliant NFC chip readout of these documents. It expands IDnow’s existing signing solution portfolio and complements the available identity verification methods for various types of signatures with solutions like VideoIdent, AutoIdent and IDCheck.io.
Seth continues: “With eID eSign, our customers can future-proof their offering according to the German AML laws (GwG) and the European eIDAS regulations. The use of the NFC chip reduces the risk of identity theft and unauthorised access while cutting costs associated with printing, storage and manual handling of documents. Both solutions propel us and our customers into the next stage of compliance
digitalisation.”
