Organizations have compiled an e-signature security checklist mainly to stay protected against the security threats and to evaluate the e-signature services.
FREMONT, CA: Every organization battles to stay away from the security scars, which is why the IT teams keep conducting extensive due diligence on their software providers and cloud hosting. It is to stay safe against the data breaches, phishing, malware, data loss, viruses, and other security threats.
The security checklist takes a holistic approach when it comes to security. Companies must learn more about the security that comes with the service, signer authentication, and strategy of the vendor to document and signature security, also the audit track related to the digital transaction.
Mostly the e-signature laws do not speak much about the security techniques and technology that comes with it. Still, the fundamental legal definition of any electronic signature revolves around the signer’s identity. It means the company needs to validate the users before e-signing, and link that authentication to the e-signature as well as the e-signed record.
Documents that carry e-signatures of the e-signature vendor can be evaluated and archived autonomously, which will provide an added layer of security. Irrespective of the company maintaining an account with the e-signature service in the coming days, the document can never be affected, since no one can have any online access to corroborate the e-signed document. In order to achieve vendor independence, organizations need to have a solution that surrounds the e-signatures, time stamping, and audit tracks in the report directly. Additionally, it builds a self-contained, transferable record.
When large companies undergo a compliance audit, they are asked to prove the business methods they follow. It is essential to capture a full audit track of the signing procedure, as it allows explaining how the customers complete their transactions on the web or via mobile devices. For the most part, e-signature solutions in the marketplace fall short while they try proving compliance as they cannot capture a complete record of actions of the signer.
Additionally, organizations also need to understand the protocols an e-signature vendor has in place in order to recognize as well as avoid data breaches. It is essential to gather insights about the security practices, certifications, track record, and the frequency of the vendor’s security audits.