A sign of the times
A sign of the times
The humble signature, once vulnerable to forgers and fraudsters, is re-emerging in electronic form to offer foolproof security.
Nowadays, a signature is not considered to be one of the most secure methods of identifying that an individual is who he purports to be, but that looks set to change, thanks to the introduction in Australia of technology that adds several layers of security to the standard signature.
If proponents of the new technology have their way, e-signatures will replace ink on paper. The technology works by capturing the user's signature electronically on a special pad-not a new technique in itself, but it's the embedded tools used to analyse the signature and the encryption safeguards that prevent alteration of legally binding documents that sets it apart.
The technology, called SigAnalyze, utilises biometrics to record the speed, timing, and stroke order of the signature, all characteristics that cannot be photocopied or forged.This has alerted banks, who are interested because they can do away with paper based forms, and benefit from more security, durability and versatility for teller-customer and internal administrative functions.
The customer's electronic signature template is held in the bank's head office or at branches. Where a signature or controlled access to an account is required the customer can sign at any branch and the signature is verified instantaneously. Special signature software allows forensic examiners to determine authenticity, should the signature record be in dispute.
The e-signature, developed in the U.S. by Topaz Systems, is being introduced into Australia by Sydney-based Intercept Information Solutions. Intercept general manager Bob McAnderson says discussions are at an advanced stage with a major Australian bank to have the system installed, and other banks have expressed interest.
"While the obvious application is in banking, the potential is virtually unlimited wherever secure personal identification is required," he says. "Where an e-signature is part of an electronic contract, any tampering with the contract text will immediately result in deletion of the signature, rendering the contract invalid.
"It takes the old concept of digital signatures to a new level. The technology differs from anything else that is available in that it encrypts signature data to a given document's contents, which means that if the contents of a document are changed after signing, the signature itself will be invalidated and rendered useless."
Such a technique does away with legal wrangling over whether the contents of an agreement have been changed. Topaz also provides its own proprietary forensic analysis software to document examiners to make expert determination about the e-signatures in a legal setting.
According to McAnderson, typical applications include automation of contracts, forms and enrolment in insurance; motor vehicle registration; automating the prescription process of pharmacies; order processing and proof of delivery, and many more.
The software embedded in the system automatically validates the authenticity of electronic signatures at the point of capture. This enables banks, insurance companies, etc, to know in advance when a person is attempting to commit fraud. By comparing a captured signature to an existing template, its validity can be determined immediately and reliably. Customer templates can be stored and accessed at a server at each bank branch or at a remote central server, and accessed via existing network.
Additionally, the system offers the option of Dynamic Stroke Pressure, a feature which provides visual feedback about the speed at which a given stroke was made, with slower portions represented by thicker "electronic ink", allowing the recipient to visually verify the identity of a signer using an electronic signature card, if desired, without the need to create a signature template.
"This product is unique in the market and we anticipate it will prove very successful," concluded McAnderson.
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