Legal solutions provider thelawstore.com.au recently launched Livesign in the Australian market.
This technology, the first of its kind in Australia, is being touted to bring about the full digitisation of the centuries-old process of bearing witness to a signature on a document by combining digital signing and digital verification of identity (VOI) into a clear, concise, non-repudiable signing process in real time.
This also serves to benefit businesses that are already relying on electronic signatures as such are becoming more susceptible to fraud especially since they do not rely on in-person authentication anymore.
According to thelawstore.com.au, Livesign lessens the risk of not having a physical human witness by biometrically binding the person behind the digital signature to their government-issued ID at the point of signing, known as verification of signer (VOS). This means the digital signature can’t be completed by anyone else, making it more secure and less open to fraud than previous processes.
“Digital signing and digital VOI are no longer just conveniences, they’re an expectation, especially in industries such as conveyancing and mortgage lending,” said Ian Hendey, CEO of thelawstore.com.au. “With the explosion of digital processes and automation over the past few years, we saw a real gap in security, and a gap in the market. Digital VOI only does half the job. We identified the need for a technology solution to allow you to sign a document and prove your identity at the same time. This is why we call it witnessing re-imagined – not witnessing removed.”
Hendey added, “We’re increasing the security of the witnessing process to provide the safety of in-person witnessing with the convenience of digital. Effectively, a mobile phone has become the secure witness in a digital world.”
Zeb Drummond, Head of Customer Operations, Gateway Bank, said that the move to a one-stop signature and witnessing solution could not have come soon enough. He commented, “Livesign has removed barriers for customers in rural and regional areas Australia-wide, as they don’t need to rely on the postal service or face-to-face verifications when signing mortgage documents. Additionally, Livesign supports Gateway Bank’s purpose to support Australian’s pockets and planet, taking paperwork out of the verification process.”
Livesign is now available to all Australian organisations as more businesses go paperless, electronically sending and signing important documents.