Digital signatures have revolutionized the way companies and organizations manage documentation and contracts. They offer a secure, efficient, and legally binding way to sign documents electronically, reducing dependence on paper and speeding up processes.
The term digital signature is one of the most popular today, but it is not the same as an electronic signature. The first is a signature that meets the legal requirements of each country where it is applied, while the second is used as a way to seal a contract or pact between two or more parties, without legal support.
In this blog, we will explore the solutions of three digital signature service providers: Validated ID, DocuSign, and SignNow. We will compare the characteristics, advantages, and disadvantages of each technology so you can decide which one you need.
Key aspects of Validated ID
Validated ID offers a range of digital signature services, including biometric, electronic, centralized signatures, and time stamping (Stamper). It was born to provide a digital signature service to companies, extending today to more than three thousand clients.
These are its main modules:
1. Biometric Signatures
Validated ID biometric signatures capture a person's handwritten signature using touch devices, such as tablets or smartphones, and analyze unique biometric characteristics such as pressure, speed, and rhythm of the signature.
What is it for?
- Authenticity: It guarantees that the signature is unique and has been made by the person in question.
- Security: Biometric information is difficult to falsify, which increases the security of the signing process.
- Legality: Complies with strict regulations for the authenticity and integrity of signatures in many countries. ValidatedID meets the legal requirements of several countries in the European Union, and Argentina, Chile, Colombia, Costa Rica, Panama, Peru, Ecuador, Mexico, and the Dominican Republic.
- Common applications: In-person agreements, informed consents, employment contracts and documents that require high security and in-person validation.
2. Electronic Signatures
Validated ID electronic signatures allow documents to be signed digitally without the need for biometric analysis, using simpler and more accessible methods. This type of signature cannot be used on official documents, such as government documents.
What is it for?
- Efficiency: Facilitates quick signing of documents without the need to print, sign by hand, and scan.
- Flexibility: Can be used in a wide variety of situations, from simple agreements to more complex contracts.
- Integration: Compatible with multiple platforms and electronic document formats.
- Common applications: Commercial contracts, service agreements, internal approvals, and documents that do not require an extremely high level of security.
3. Centralized Signature
Validated ID centralized signing involves the use of digital certificates stored securely on a server. Users can sign documents remotely using these certificates.
What is it for?
- Security: Centralized digital certificates are highly secure and difficult to compromise.
- Regulatory Compliance: Suitable for critical transactions that must comply with strict regulations, such as those in the financial and legal sectors.
- Authenticity and Non-Repudiation: Ensures that the signature cannot be repudiated later, since it is linked to a secure digital certificate.
- Common Applications: Financial transactions, legal contracts, critical corporate documentation and any situation requiring high levels of security and regulatory compliance.
4. Stamper
Validated ID Stamper service provides a time stamp on electronic documents, verifying their integrity and existence at a specific time.
What is it for?
- Integrity: Ensures that the content of the document has not been altered after its creation.
- Legal Compliance: Complies with the legal and regulatory requirements of many sectors, providing proof of the existence of the document at a specific date and time.
- Confidence: Offers greater confidence in the validity of the document over time.
- Common Applications: Legal records, long-term contracts, regulatory compliance documentation, audit logs, and any document that requires time verification.
Advantages and disadvantages of ValidatedID, Docusign, and SignNow
Validated ID:
- Advantages: High security, solutions adapted to different needs (biometric, electronic, centralized), strict regulatory compliance.
- Disadvantages: Requires specific hardware for biometric signatures, greater complexity in managing centralized signatures.
DocuSign:
- Advantages: Wide market acceptance, integration with multiple applications and systems, ease to use.
- Disadvantages: High costs, some advanced features may require higher level subscriptions.
SignNow:
- Advantages: Competitive prices, easy-to-use interface, integration with other platforms.
- Disadvantages: Lower brand recognition compared to DocuSign, some limitations in advanced functionalities.
The choice between Validated ID, DocuSign, and SignNow will depend on the specific needs of each organization and the sector in which they operate.
Validated ID offers a range of digital signature solutions tailored to various needs and security levels. Its biometric and centralized signatures stand out for its high security, while Stamper's electronic signatures and service offer flexibility and regulatory compliance. Compared to DocuSign and SignNow, Validated ID is positioned as a robust option for environments that require a high level of authenticity and security in digital signatures.
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