How to Mitigate the Top Six Risks of E-Signatures: eSignLive Releases a New Whitepaper

June 14, 2009

Montreal, QC, June 15 2009 - Silanis Technology, the leader in electronic signatures, announced today that it has released a new whitepaper that discusses the top six risks of adopting e-signatures as defined by Locke Lord Bissell & Liddell – a law firm that guides insurance and financial institutions to design and implement e-signature processes – and what organizations can do to mitigate the risks. While the E-SIGN Act grants electronically signed records the same legal status as paper records, it is no guarantee that they will be admitted into court as evidence or that they will provide adequate defense in the event of a legal dispute. Moreover, meeting the basic requirements of the E-SIGN Act does not mitigate against a number of other important risks associated with bringing transactions online. “Understanding the legal and regulatory environment is important,” said Pat Hatfield, Partner at Locke Lord Bissell & Liddell. “However, the key to implementing e-signatures without introducing new legal risks is more about understanding the business process, and less about particular technologies.” The paper discusses how a well-designed process, supported by new-generation electronic signature technology, can actually reduce the risk of fraud, repudiation, admissibility, and non-compliance, and strengthen the enforceability of signed records compared to paper. Individuals with legal, compliance, IT, operations and risk management responsibilities within an organization will benefit from the paper as it also addresses the following topics:

  • What to consider when authenticating signers and verifying their identity online
  • How electronic signatures can preserve the integrity of signed documents
  • What additional information can be included as part of the electronic evidence to strengthen legal position
  • How regulatory requirements can be enforced to ensure compliant processes
  • What’s at risk if the electronic process is too difficult to use
  • How to ensure greater visibility and control over processes

About Silanis
Silanis Technology is the leading provider of e-signature process management solutions. The world’s leading insurance and financial services companies, major government agencies, integrators and service providers depend on Silanis to accelerate business transactions and reduce costs while improving compliance with legal and regulatory requirements. The company’s electronic signature platform, ApproveIt®, is an enterprise-class e-signature process management solution that transforms paper-based business transactions to all-electronic, web-based processes for e-commerce and e-government.