In today’s digital world, electronic signatures are reshaping how we formalize agreements, especially in industries like banking where security, authenticity, and seamless interaction are paramount. Gone are the days of cumbersome paper trails; now, the goal is to create a signing experience that feels as natural as a conversation. In this article, we’ll dive into the essentials of electronic signatures, exploring the key security features that make them trustworthy and discussing how a conversational approach enhances the signing process for both businesses and clients.
The Basics of Electronic Signatures
An electronic signature is essentially a digital way to agree to terms, closing a transaction by signing an electronic document. However, this isn’t as simple as clicking “Agree” — especially in sectors like finance, where authenticity and security are non-negotiable. Electronic signatures need to ensure that the person signing is genuinely who they claim to be, that their identity is verified during the signing, and that the record of the signature is secured for future reference.
In essence, there are three core elements to electronic signatures:
- Identification of the Signer: Ensuring the signer’s true identity.
- Authentication During Signing: Confirming that the correct person is indeed the one signing.
- Securing the Signature Evidence: Storing proof of the signature securely for future verification.
1. Identification of the Signer
In the physical world, identification is often as simple as presenting a valid ID to a representative, such as a bank agent, who verifies that the person signing is who they say they are. In the digital world, the trust anchor usually is also a valid ID that is verified in some way, for instance by video identification – be it automated or by a human.
2. Authentication During Signing
Once identity is established, authentication is about ensuring that the right person signs the document. In the physical world, this is straightforward: the person present is the one signing. Digitally, however, authentication requires a bit more rigor. Typically, it involves using the credentials created during identification, perhaps along with multi-factor authentication, to verify that the person signing is indeed the one who is supposed to sign.
3. Securing the Signature Evidence
For any signature — digital or physical — preserving evidence is essential for future verification. Physical contracts are stored in archives, while digital documents are protected with encryption, timestamps, and traceable signing processes. This digital footprint ensures that, even years down the line, both parties can verify the contract’s authenticity, when it was signed, and by whom.
Different Types of Electronic Signatures
Electronic signatures come in three main types, each suited to different levels of trust and legal validation. Understanding these distinctions helps in choosing the right approach for various situations.
- Simple Electronic Signature (SES): This basic form of electronic signature functions as a digital handshake. It’s as simple as clicking “Agree” on a set of terms or using an email confirmation. Simple electronic signatures may use two-factor authentication for additional security and can include timestamps, and is considered sufficient for many types of contracts, though their legal validity may be limited : if a signature is contested by a client, the financial institution has the burden of the proof that indeed it was the person in question who expressed their consent to a contract.
- Advanced Electronic Signature (AES): Advanced signatures are a step up from SES. They meet specific standards, such as the European Union’s eIDAS (electronic IDentification, Authentication, and trust Services) requirements. This type of signature must have documented identity verification, verified authentication during the signing process, and secure storage of evidence to maintain a legally defensible trail. Although similar to qualified signatures, advanced signatures don’t require formal audit and certification by an authorized body.
- Qualified Electronic Signature (QES): The highest standard of electronic signature, QES is equivalent to a handwritten signature in its legal standing. Meeting stringent regulations (like eIDAS in the EU or ZertES in Switzerland), QES requires rigorous identity verification, secure signing processes, and must be certified by an accredited third-party auditor. If challenged, the signature’s validity is assumed unless proven otherwise, making it a secure choice for highly sensitive agreements.
The Conversational Way of Signing
As digital experiences evolve, so do client expectations. Rather than compartmentalized transactions that disrupt workflow, clients increasingly expect a conversational, integrated approach to processes like electronic signing. This conversational approach seamlessly incorporates signing into the natural flow of communication, resulting in a smoother, more intuitive user experience.
Here’s how it works:
Imagine a bank client interested in a new product, such as an investment account. They begin a conversation with the bank, perhaps through chat, a phone call, or even a video session. Through this ongoing interaction, the client asks questions, receives product information, and ultimately makes a decision to proceed. Traditionally, the signing step would require navigating to a separate platform or waiting for an email. With a conversational approach, however, the client can review, sign, and return the document right within the same chat or communication thread.
This approach is intuitive because it allows the document review and signing process to occur in the same “space” where the client discussion took place. There’s no need for the client to switch between platforms or remember the details of a conversation they had days or weeks prior. Instead, the document is reviewed and signed in a familiar context, giving clients greater confidence in what they’re signing and ensuring alignment with their requests.
Why Conversational Signatures Matter for Businesses
The conversational approach offers several benefits for businesses, especially in terms of client experience and process efficiency.
- Enhanced Client Confidence: Clients who see the document and sign within the same conversation are more confident that the content reflects their wishes and requests. This continuity builds trust and reduces the likelihood of disputes.
- Improved Efficiency: By embedding the signing process directly into the client conversation, businesses streamline operations. There’s less back-and-forth, fewer follow-ups, and documents get signed more quickly, allowing business processes to progress without unnecessary delays.
- Reduced Complexity: In traditional settings, clients might experience fragmentation, navigating between separate channels for information, calls, and documents. A conversational approach unifies these steps into a single, coherent flow, reducing complexity for both clients and service representatives.
- Stronger Security and Auditability: Integrated signing processes are more easily audited and tracked. Every part of the interaction, from initial request to final signature, is documented in one continuous record, making it easier to prove the document’s legitimacy and client consent.
Why Choose Jemmic’s Conversational Signature Solution?
Jemmic’s conversational framework supports the signing process with security and simplicity at its core. We believe that clients shouldn’t need to jump between systems or repeat their information just to complete a transaction. By integrating the signing process into a seamless conversational experience, we enable banks and other businesses to create a smoother, more intuitive path for clients. In our vision, a client’s journey with a company should flow naturally, without interruption, so the conversation feels as organic as in-person service.
Our conversational framework SecuChat supports simple electronic signature natively, but also integrates providers like Luxtrust, itsme, Siwsscom, SwissSign or QuoVadis for advanced or qualified electronic signature.
In practice, our solution means that a client’s request, product discussion, document review, and signing happen within the same conversation. Whether through a chat, audio, or video interaction, Jemmic’s framework makes it easy for clients to follow along, ask questions, and sign documents without the need to change platforms. This streamlined approach isn’t just convenient; it’s secure, auditable, and transparent, meeting high standards for trust and compliance.
Let’s explore the conversational signature together !
Electronic signatures are no longer just a checkbox on a digital roadmap. They’re an opportunity to enhance client relationships, simplify complex processes, and make transactions more secure and transparent. With Jemmic’s conversational approach, electronic signing becomes a natural, integrated part of the client journey. By combining advanced security with a seamless user experience, we help companies meet today’s digital expectations while building stronger, more trustworthy client relationships.
Book an appointment today to start exploring this together!
