/regulation & compliance

News and resources on regulation, compliance, legal and governance issues for banks and fintechs.

DocStribute moves into digital signing market

Source: docStribute

London-based RegTech startup docStribute has launched dSign, a digital signing solution leveraging the power of Distributed Ledger Technology and the existing infrastructure of flagship product dSend.

dSign will be available to companies of all sizes and is built around the needs of SMEs in particular, democratising digital signatures by making all features available for all sectors at a single, low cost, flat fee (with no hidden costs). dSign will support smaller companies by providing an easy and intuitive solution to inefficient and unsustainable physical signing. Immediately upon launch, dSign will take on an established market (with providers such as DocuSign that have ~75% market share) by offering drastically lower fees, unlimited users, DLT security, 2-factor authentication as standard, and much more.

UK local government data shows that paper and cardboard account for 20% of all waste produced in the UK and data from Danish activist collective The World Counts shows that paper accounts for around 26% of total waste at landfills. Furthermore, according to Harvard Business Review research, as much as 21% of a salesperson’s time is taken up by admin. dSign directly responds to these issues, providing a new way, a better way, to conduct business.

Built on Hedera Hashgraph, dSign uses cryptography, 256 digit alphanumeric code, and a seamless three factor verification process to store documents and create secure links to them. When signed, the content of the documents and their signatures are secured with a docStribute digital stamp - ensuring one true source of the final contract, while recording a real-time audit trail.

dSign offers users the solution of legally binding digital signatures which reduces turnaround time by 80%, enabling business to be conducted faster, more securely and in a more environmentally-friendly way.

Digital signatures are becoming more popular in businesses, eliminating paperwork and saving time, money and resources. According to research conducted by Deloitte, the global e-signing market is projected to be a $5 billion market by 2023 and over $14 billion by 2026, with a compound annual growth rate ranging between 28% and 30% across the period.

docStribute CEO Chris Ansara said: “We are very excited to be launching dSign - a digital document signing solution that helps business be conducted quicker and in a more environmentally-friendly and cost effective way. dSign ensures the authenticity of contracts is retained from start to finish. This launch will open up new markets to docStribute such as SMEs, the real estate sector, legal sector, human resources, and more. Businesses are tired of paying extra for additional functionality and seats. Other companies lock you in, and then encourage you to pay extra for functionality. With dSign, there are no hidden costs or sneaky upgrades required. We offer outstanding value for money and peace of mind that your contracts are in safe hands.”

For a fixed fee of £20 per month at launch, users will get:

Distributed Ledger Technology: technology that allows the simultaneous access, validation and updating of records and works on a computer network spread over multiple entities or locations. DLT ensures document security by using cryptography that only allows access to authorised users, and securely stores all data
Truly unlimited document manager folders, document history, documents for eSignature and users
Ensured security of all documents/agreements through being delivered to signees via immutable hyperlinks, as well as controlling who has access and monitoring all team activity
Guaranteed document safety through SMS 2-factor authentication login and SMS 2-factor authentication signing, ensuring only those authorised have access
A CO2E savings calculator - as companies of all sizes, across sectors, look to decarbonise, it’s crucial to have access to data, showing progress or areas to improve
Customisable branding, meaning that users can adapt according to their company brand book and corporate image
Signer fields, collaborative fields, multiple signers and sequenced signing ensure the maximum efficiency of the digital signature process
A real-time audit trail so all records can be tracked

Comments: (0)