November 09, 2020
We often talk about the benefits of e-signatures for businesses. There are some that apply to every organization, such as the cost and efficiency benefits, but there are certain industries that experience more advantages than others from the switch to e-signatures.
These are highly regulated and require high-trust e-signatures to ensure that all documents are compliant and non-reputable. Within these industries there are multiple use-cases where e-signatures can streamline processes and deliver secure signing for all parties involved.
Banking
As banking institutions deal with both consumer and business accounts, enable equities and commodities trading and process hundreds of thousands of documents a second, the industry has many uses for e-signatures.
Banks require the highest trust, eIDAS compliant e-signatures as they are generally dealing with financial transactions including personal wealth management and lending.
Using an e-signature solution with a Hardware Security Module (HSM) ensures that cryptographic keys and digital identities are secured centrally. These can then be used to sign transactions and investments, legal records and even mortgage applications.
Government
For every law or regulation that is passed by a government there will have been countless documents, signed by multiple parties, to push it over the line. A bill will pass through multiple departments and committees who will all have their say, and there is potential for countless amendments throughout its many readings before the bill is passed and becomes law.
The most important element of any law is that the bill needs to remain valid for decades and the document signer cannot be disputed or altered.
Governments should ensure that any e-signature solution they use offers long-term validation (LTV). This can be done through the use of ETSI PAdES, XAdES and CAdES signatures with the appropriate LTV format. Essentially a document timestamp is required, and a new document timestamp can be applied in the future and embedded.
Much like banking, an HSM is essential for keeping the individual’s signing keys secure.
Engineering and Manufacturing
Time is of the essence in manufacturing and engineering – a small delay can cause a project to overrun and cost an organization thousands. Any small mistake in blueprints or order forms can also be costly – and with a long approval chain, mistakes can creep in.
Ensuring blueprints are thoroughly reviewed and that alterations cannot be made to documents is vital to keeping projects on track and within budget. Providing thorough evidence of the identity of all signers involved ensures that every part of the process has been signed off and accounted for and responsible parties can be contacted.
High-trust e-signatures are becoming increasingly common in these industries where the need to provide substantial evidence and secure e-signatures is crucial. Find out more about Ascertia’s signing solutions including the world leading ADSS SAM appliance that was recently Common Criteria certified according to eIDAS Protection Profile EN 419 241-2. To learn more about e-signing, or remote signing, and the use of HSMs in this context, take a look at our dedicated blog post.
