What are the most common concerns with electronic signatures?

Electronic signatures are incredibly efficient and convenient, but they aren’t without their risks.
In addition to potential fraud, there are also issues like unauthorized signing, regulatory compliance, and the validity of electronic contracts.
The good news is that most of the common concerns about e-signatures are easy to address — you simply need the right processes and technology. 

Overcoming the top three risks of using electronic signatures

1. Fraud
Perhaps the greatest risk of using e-signatures involves fraud. All a bad actor needs to do is compromise the right organization, then they can acquire or forge an individual’s e-signature. Though this is concerning, it’s actually easier to forge a wet signature — all you need is a pen and some practice.
E-signatures provide several additional layers of verification and validation to protect against fraud and forgery, including password protection, multi factor authentication, and digital certificates.
Check Also: The best digital signature websites in KSA

2. Unauthorized signing
How do you know that whoever signed an electronic document is who they claim to be?
Without the proper validation tools and processes, you don’t. This means there’s a much higher chance that someone will challenge the e-signature validity. The good news is that this issue is easy to overcome. Here’s how: 

• Ensure that your e-signature provider verifies the identity of the signer through a government platform such as Absher and Nafath. 
• Verify there is an audit trail attached to the signed document that keeps track of who signed, when, where, and how.

3. Non-compliance
For the most part, governments don’t care if your organization leverages Electronic signatures internally.
However, if you need your documents to be treated as legally binding, it’s important to familiarize yourself with regional laws, national legislation, and any relevant international regulations.
You should also know if there are any industry-specific requirements for electronic documents. This will help you avoid regulatory penalties, fines, and potential reputational damage. 

Overcome your concerns about Electronic signatures with Signit
If you’re looking for an easy to use signing platform with multiple layers of authentication, intuitive workflows, and full compliance with regulations in the Kingdom of Saudi Arabia — try Signit today.

Start your free trial now.