As regulated industries shift more transactions online through digital processes, more questions have been asked as to whether a simple e-signature is enough to ensure compliance and protect against fraud.
This is where identity-verified signing provides ultimate assurance. It mandates robust identity checks alongside the electronic signature for an extra layer of certainty and clear proof that the person signing is genuinely who they claim to be.
For many sectors under strict regulatory scrutiny, this approach changes digital security for the better, but does it have the potential to be the new gold standard?
Identity-verified signing is a next-generation digital process that merges the two steps of identity verification and electronic signing into one seamless, secure journey. The first is verifying the signatory’s identity and the second is capturing their electronic signature. The verification step involves checking an official ID document, adding biometric checks like facial recognition or sending a one-time passcode to a verified device. Once the signatory passes these checks, they can sign the document electronically to create a clear, traceable record of who signed, when and how their identity was verified.
This approach significantly raises the bar for security, traceability and regulatory compliance. Unlike traditional e-signatures, which can rely on unverifiable email links or unchecked self-attestation, identity-verified signing ensures every signature is backed by rigorous evidence. Identity-verified signing remains a new and relatively rare capability in the market, but for organisations operating in regulated environments it demonstrates how security and operational efficiency can be achieved from the very first interaction.
In industries bound by strict compliance standards, trust and accountability are absolutely vital. For example, data protection regulations like the UK GDPR require organisations to have clear evidence of consent and valid authorisation when processing sensitive personal information. Alongside this, legal and property transactions carry high financial stakes and legal risks if signatories are not properly verified.
Electronic signature identity verification closes this gap. It reduces the risk of impersonation or fraudulent agreements and protects clients and firms alike. On top of that, it also provides more evidence and assurance than wet signatures, even exceeding traditional face-to-face signing. Identity-verified signing effectively ticks all the compliance boxes and streamlines the overall process at the same time.
Identity-verified signing makes meeting regulatory expectations far simpler. In regulated sectors, firms need to prove that signatories genuinely consented and that every step of the signing process is evidenceable. By linking electronic signatures directly with identity verification, organisations can build strong evidence that stand up to audits, legal challenges and customer disputes. Key advantages include:
For many organisations and sectors, the answer is yes. Basic e-signatures may suffice for low-risk documents, but identity-verified signing can offer peace of mind for regulated sectors that can’t be matched by standalone e-signatures. It strengthens trust with clients, reduces the chance of fraud and shows regulators that your digital processes are built for accountability.
The fact is, identity-verified signing is a new digital approach that solves many of the headaches with current systems. It is the next step in digital e-signing and verification that ensures complete trust, compliance and security without making the overall process awkward and time consuming. All it needs is an end-to-end platform that combines both ID verification and e-signing.
Identity-verified signing has the potential to bring together the speed and convenience of electronic signatures with the trust and accountability demanded by regulated sectors. By adding clear identity checks to every signature, organisations can both protect themselves and their clients from fraud to build strong evidence for compliance.
Bonafidee are the pioneers of identity-verified signing. Our platform gives you complete confidence about who you are dealing with at every critical interaction with the same certainty you could rely on in the real world. By combining advanced electronic signature identity verification, secure document handling and a clear audit trail in one end-to-end process ,organisations can confidently handle sensitive transactions online without compromising on compliance or customer trust.
To find out more about e-signing and how to future proof your business for the new industry standard, download our guide below.