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e-Signatures
Transaction Validation and Document Signing

e-Signatures for transaction validation and document signing

Overview:

In our fast-paced, ever-connected world, business is increasingly conducted through electronic channels. Mobile phones, email and the Internet in general, have revolutionized telecommunications, facilitating almost immediate response and significantly shortening lead time. Despite the advantages electronic channels present, the use of them does not come without security risks. When conducted through unsecured electronic channels, the transaction of financial information and the endorsement of legally-binding documents can result in considerable financial loss and diminished customer confidence. VASCO’s e-Signature solution helps eliminate these security threats, providing electronic confirmation of authenticity and integrity for documents and financial transactions across all industries.

VASCO’s e-Signature solution works by creating an electronic signature unique to each particular transaction or document using such data as account numbers, transaction amounts and timestamp. Based on MAC technology, this solution preserves data integrity and ensures authenticity, rendering any changes made to a transaction or document after it has been electronically signed, invalid.

What is an e-Signature?

An e-signature is a short piece of information used to authenticate a message and can be used for Transaction Signing and Document Signing.

Transaction Signing is the use of an authentication code to verify users and authorize a transaction like a money transfer.

Document Signing is a digital and secure way of presenting a document to a client for signature like a mortgage closing or a patient consent form.

Goal:

VASCO’s e-Signature solution supplements user authentication methods like one-time passwords with additional security to electronically validate high-risk transactions or sign legally-binding documents.

Threats:

Online fraud targeted at compromising transactions and documents has spread significantly in the past years; striking mostly financial institutions.

Approach:

VASCO’s e-Signature solution can be implemented in hardware form, software form, or as a combination of the two, offering a custom fit for different budgets, IT infrastructures, and user groups.



Benefits

What is an e-Signature?
VASCO’s e-Signature is a short piece of information used to authenticate a message and is based on a MAC algorithm (Message Authentication Code).

Benefits include:

True Transaction and Document Validation
VASCO’s e-Signature solution creates an electronic signature unique to each particular transaction. Should any elements of a transaction be changed or tampered with after it has been signed, the electronic signature becomes invalid.

Non-Repudiation
VASCO’s e-Signature solution is capable of providing complete non-repudiation of a document or transaction, verifying that a specific user was present and initiated the transaction or document.

Single Back-end Platform
Because they operate on the same back-end platform, the e-Signature solution can be combined with any other VASCO Strong Authentication solution such as one-time passwords and host authentication. Banks can simply leverage their existing investment since no infrastructure changes are required.

Software and Hardware Platforms
VASCO’s e-Signature solution can be implemented in software-only form or as a combination of hardware and software factors, depending on the end-user’s needs and risk profiles.

Components of this solution

Client products:

Server Products