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Remote Signing Service Ecosystem
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Why Digital Signature ?
Today’s technologies enable digital conduct of business, however may also lead to possibilities of unauthorized actors being able to intrude in electronic transactions with malicious intent.
Therefore, Digital transformations of business are faced with rising concerns over Authentication, Validation, Trust, Recognition, Security and Reliability of digital transactions. Several advanced and emerging technologies are being made available in response to such concerns.
To simulate the real-world scenarios and use-cases in the digital world, the next crucial step is to replace hand-written (“wet”) signatures with legal digital signatures.
Digital signatures provide several advantages over wet signatures, like reduction in costs, significant improvement in service turn-around-time, improved efficiency, increased confidence in trust and integrity of transaction, reduction in possibilities of fraud, ease of maintaining records, and enhanced security, to name a few. It also enables making legal business transactions, truly paper-less and presence-less.
Cost Saving
Digital signature provides Authentication, Validation, Trust, Recognition, Security and Reliability for digital transactions.
Every penny saved matters. Smart cost savings eventually add up to significant profits for businesses in the long run. emdha offerings also provide a seamless and easy-to-use way to enable secure electronic transactions. Our clients no longer need to spend large sums of money on traditional paper-based processes, or on related logistics. Businesses can also rely on emdha’s Trust and Certification services to offer industry-leading and standards-compliant Digital Signature infrastructure at a fraction of cost in comparison to building an in-house setup.
Digital Signature will be the corner stone for Electronic Government and Digital Transformation Kingdom wide which is part of Saudi Vision 2030.
Key Advantages for Organization and Individuals
The significance of digital signatures grows day after day. Individuals and several organizations have started to use it to improve and smoothen workflow while still maintaining the integrity of critical documents.
Organization User Advantages
- Enhanced Security Minimize risk and reduce fraud with added assurance and reduction in misuse of wet signatures.
- International Standard Follows International standards of Digital Signature.
- Legal Recognition As per the e-Transactions Law in the Kingdom of Saudi Arabia
- Cost Savings cost saving by eliminating manual and paper-intensive processes ie. Human interaction, paper, printing, postal/courier charges, archiving, transportation, etc.
- Improved Quality of data with integrity, improve quality and accuracy of exchanged data.
- “Green” Environment Paperless transformation reducing excess use of paper.
- Anytime, Anywhere transactions Possibility of 24x7 presence & paperless transactions.
- Trusted and Secured Encourage irrefutable business transactions.
- Notarization of Time Evidentiary proof that a transaction existed at a certain point in time
- Futuristic Innovations Be part of innovative digital transformation
Individual User Advantages
- Saving Significant Time and increasing productivity.
- Enhanced automation and security of the processes, i.e., by minimizing or eliminating human error by automation and digitization of the workflow.
- Paperless archiving and document management.
- Reducing operational costs.
- Cutting carbon footprint
- Fulfilling the Legal compliance
- Data Integrity and non-repudiation
Use Cases
The use cases for Digital Signatures are extensive and limitless. We endeavor to support our clients to discover more use cases as we learn from each other to enable them to run their operations more smoothly and efficiently.
Though saving time, cutting costs, and customer experience benefit all sectors and industries, its use varies according to unique business needs. Below are some examples of use cases that can be well-suited to your business setup.
Future Opportunities
The digital signature market is still an uncharted area across MENA, thus offering ample opportunities for market players to exploit its potential. Although digital signatures are prevalent in developed economies, including the U.S. and the European Union, the market is still small in developing countries. However, significant expansion in the insurance and banking industries in developing countries is providing lucrative opportunities to the market players for growth.
Some of the emerging technologies that are empowered by PKI and complement digital signatures, are:
- Blockchain
- Electronic Seals
- AI (artificial Intelligence)
- IoT – Internet of Things