Staying safe online and protecting your business against security breaches and cyber-attacks is crucial in today’s technology-dependent world.
Although modern technology brings us many benefits, from near-instant access to online information, to the convenience of smart home automation technology, it’s important to remember that potential threats lurk behind every device and platform.
So just how secure is signing online? Many people often wonder whether e-signature software can be as secure as traditional wet signatures but the truth is that in many ways, they’re even more secure.
Here’s everything you need to know about electronic signatures and cybersecurity.
What is cyber security?
First, let’s bring it back to basics: Cyber security is an umbrella term used for the protection of computer systems, networks and data from malicious cyber attacks.
When we talk about cyber security, we’re usually referring to the technology, processes or controls which are put in place to defend against the unauthorised exploitation of these systems.
Why is cyber security important?
Cyber security is important because it protects all categories of data from theft or corruption. This includes sensitive company data or personal information, intellectual property and industry informational systems.
Without investing in a cybersecurity program, you leave your organisation at risk of cybercrimes such as data breach campaigns or ransomware attacks.
Security risks of paper signatures
We often get asked how the security standards of electronic signing compare with traditional handwritten signatures so let us dive into some of the issues with pen and ink.
Typically, the validity of wet signatures rely on testimonies from handwriting experts or witnesses who were present at the signing. Not only is this both expensive and time consuming, but it depends solely on the human element, which is less reliable than digital data.
Furthermore, in today’s world of working from home, it can be risky business to use handwritten signatures: pets, children and spilled coffee are just some of the threats facing paper documents, not to mention floods, fires and other natural disasters.
You could of course make copies but that introduces opportunities for tampering. Alternatively, you could scan your paper documents and upload them to the cloud, but that’s just an e-signature without the all important cybersecurity technology!
Why eSignatures are the way forward
With e-signature software, there are many controls put in place to ensure a secure signing process as well as proof of transaction:
Two Factor Authentication
Two-factor authentication (2FA) is a security method which, as the name suggests, requires two forms of identification to access resources and data. At Signable, we use 2FA as an added layer of security when logging into your account.
To break it down, 2FA consists of a combination of any two of the following three elements:
Things you know, such as a password or PIN.
Things you have, such as a badge or mobile phone.
Things you are, such as a biometric like fingerprints or voice recognition.
Signable utilises password protection (something you know) and authentication from an authenticator app installed on your mobile device (something you have).
Unlike handwritten signatures, which offer no record of a transaction, digital signatures come with an electronic footprint, providing proof of the event.
This audit trail includes details such as when the document was opened, viewed and signed, and provides a detailed history of any actions taken within the document. If one of the signers should dispute their signature, or if there are any queries about the transaction, this audit trail is available to all parties and can be used to resolve such objections.
Certificate of signature
The certificate of signature is an important document that is received once the transaction is complete and includes detailed information such as:
“the standard security technology for establishing an encrypted link between a web server and a browser. This link ensures that all data passed between the web server and browser remain private.”
What this means is you can be safe in the knowledge that the information you share when you sign digital documents remains secure. At Signable, our website is encrypted with SSL, meaning no one can snoop on your password or the documents you send and sign using our services.
When searching for the right e-signature solution for your business, look for one which offers all of the above. This way you can rest assured that your sensitive information will remain secure.
Sign documents securely with Signable
We understand that security is your number one priority when it comes to investing in an e-signature solution, which is why we provide the following services: