If you are not yet using digital signature API in your business, you should consider doing so because it canbenefit you in many different ways. Digital signatures function the same way asdigital “fingerprints.” The digital signature, which takes the form of a coded message, securely links a signer with a document in a recorded transaction. These signatures rely on a universally accepted format referred to as Public Key Infrastructure (PKI) to ensure enhanced security. The digital signatures are a subset of electronic signature technology (eSignature).
The digital signatures can be very helpful in digital on boarding because they are considered secure. They work using public-key cryptography,which is a cryptographic method that uses a key pair system; private and public. The private key encrypts the data and is available only to the signer, while the public key decrypts the data pertaining to the digital document and is given to the receiver. But, both parties need to have a registered digital certificate from an issuing certificate authority in order to connect the signer and their signature.
Public key cryptography ensures the accuracy, security as well as authenticity of the document. Encryption is simply the process of encoding data that is send to the receiver in a form that can only be decoded by the receiver while authentication is the process of validating that the information from the sender is genuine and has not been altered in transit.
The same way that every handwritten signature is unique, every signer is given aunique digital identity from a trusted service provider. When the signer signs a document, their identity is validated and the signature is encrypted using public key infrastructure technology.
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