Signitory: Anti-Fraud eSignature Solution Can Help Businesses Save Time and Money
- Signitory's eSignature solution eliminates cybersecurity and fraud concerns by streamlining the whole process into an all-in-one application that records are ledgered on the blockchain.
- Businesses can decrease the time spent devising contracts and collecting signatures from days to hours.
KUALA LUMPUR, MALAYSIA - Media OutReach - 6 September 2021 - Business owners are facing disruption in creating and signing contracts in the pandemic. Generating tamper-proof electronic agreements and ensuring the authenticity of remote signees can be challenging. This includes issues such as identity theft, document fraud, and other digital scams synonymous with sending electronic documents through the internet. Signitory's timely launch of its unique eSignature solution addresses all these challenges.
According to PwC's Global Economic Crime and Fraud Survey 2020, the total cost of these crimes is at an eye-watering US$42 billion. That's money taken straight off companies' bottom line. And 13% of those who had experienced fraud said they had lost US$50 million-plus. The survey lists the common risks as customer fraud, cybercrime, and asset misappropriation. Small-Medium Enterprises (SMEs) are subject to these same risks, just like large multinational companies.
Traditionally, the process of creating electronic agreements and collecting signatures is fragmented and subject to multiple issues. Businesses typically use various software or applications to create electronic documents. Subsequently, these electronic agreements are sent via unsecured means such as public email services or open chat messenger apps, exposing businesses to cyber security risks that compromise company secrets.
Before creating Signitory, founders KC Lai and Carlo Chung found these issues challenging. They were familiar with the amount of documentation required within Multinational Companies (MNCs) and SMEs. Everything from closing deals to onboarding new employees involved documentation. They wanted a way to help businesses to complete documents with ease, accuracy, and security.
Since KC and Carlo have extensive experience creating and transforming businesses with enterprise and blockchain solutions, they developed Signitory to provide entrepreneurs and professionals with a complete frictionless signing experience. To maintain regulatory requirements and contract legitimacy, KC and Carlo combined the best of Blockchain, SaaS and eKYC (Electronic Know Your Customer) technologies into Signatory's system to make a genuinely unique and compliant solution.
Signitory's eSignature solution eliminates cybersecurity and fraud concerns by streamlining the whole process into an all-in-one application that records are ledgered on the blockchain. The workflow covers creating, editing to verifying, keeping the entire transaction safe.
The company's blockchain-based technology safeguards signed electronic documents from being altered. It can further detect if signed electronic records have been tampered with in any way. Additionally, Signitory's eKYC solution captures live video movements and official identification documents from all signees to ensure accurate identity verification before the document is signed.
Now, all businesses can benefit from the convenient solution that KC and Carlo have built. The company has released a comprehensive guide for eContract and eSignature management at an affordable price for businesses of all sizes. Moreover, Signitory's latest promotion, the Un-Real $2 Deal is perfect for any entrepreneur or professional who wants to use the eSignature solution to save time and money. To get this offer, please visit https://www.signitory.com.
"We want to make it as easy as possible for entrepreneurs to continue securing deals and building their businesses. This is why we are offering the Un-Real $2 Deal, which features massive savings on our Starter package," said Victor Yong, Marketing Manager at Signitory.
The eSignature solutions company's offer is timely. Generating paper-based traditional contracts and getting signatures during the covid era is challenging for most organizations. The latest statistics show that the time difference in obtaining signed documents between traditional and e-Signatures is 5 days vs 37 minutes.
"According to studies on eSignature solutions, 78.62% of businesses say eSignature apps helped save money, taking account into material, administration, shipping and subscription costs. There was also an 80% average reduction in turnaround time using eSignature. The data is a testament to the effectiveness of eSignatures in the financial and business landscape." said KC Lai, CEO of Signitory.
In 2020 Kee Choy Lai and Carlo Chung established Signitory to create a more comprehensive experience with signing by infusing their system with blockchain. Signitory's ultimate goal is to improve people's quality of life by increasing efficiency and coordination in their businesses. Signitory uses blockchain technology and other digital tools that can increase productivity and effectiveness in a business.