Liquid and OneSpan gear efforts towards document signing security

Developments in document signing processes, has been the focal point for recent product launches by both Liquid Inc. and OneSpan.

Liquid and DocuSign are joining forces to introduce a biometric eKYC service that will see the integration of Liquid’s “LIQUID eKYC” identity verification technology with DocuSign’s electronic signature platform, allowing users to verify their identity through biometric authentication while signing documents.

Elsewhere, OneSpan is also advancing document security with its phishing-resistant authentication offering, with the aim of safeguarding critical transactions and electronic signatures from evolving cyber threats.

Liquid, DocuSign push ahead with biometric eKYC service launch

A new eKYC biometric service will be entering the APAC market curated off the back of a collaboration between the Japanese ID verification service provider Liquid Inc., and U.S. electronic signature and agreements management company DocuSign.

Together, they plan to integrate Liquid’s “LIQUID eKYC” online identity verification service with DocuSign’s ID verification tool to introduce biometric authentication technology geared towards identity verification for electronic signers, with the service expected to launch by April 2025.

How it works? The companies explain that the “LIQUID eKYC” service allows users to verify their identities online by either photographing identification documents or reading IC chips. The system then matches these documents with selfies or utilizes public personal identification (JPKI). Signers will be able to upload a photo of their Japan-issued driver’s license and a selfie using their smartphone to complete verification.

The company boasts that the technology’s design minimizes unclear images and reduces drop-off rates during the verification process through its biometric and image recognition technologies. This integration with DocuSign has also been set up to help with identity verification for signers, especially for agreements requiring heightened trust.

Liquid eKYC’s AI-based screening function automates identity verification tasks, including matching personal information with ID documents and masking sensitive data.

According to the company, Liquid has verified over 50 million identities for online contracts, account registrations, and more. The company has proprietary AI, biometric, and OCR technologies under its belt and works towards the goal of low dropout rates during the identity verification process.

In the first quarter of the year, Liquid completed a cumulative 40 million KYC checks.

As well as using its services for signing documents, in 2021, Liquid filed an application for a patent on its face biometrics-based technology for fraud detection. The company also provides online identity and age verification services for Hello Cycling’s electric bike-sharing platform in Japan.

OneSpan’s phishing-resistant offering

Complementing these regional efforts, OneSpan also has its hypothetical hands in a transaction signing tool that works as an authentication offering for banks. The new system uses a combination OneSpan’s patented CRONTO transaction signing with FIDO2 protocols to safeguard transactions against phishing and account takeover threats (ATO), by linking the transaction to the identity of the user.

“For three decades, our customers have trusted us to lead the way in banking security innovation, consistently staying ahead of emerging threats,” said Giovanni Verhaeghe, senior vice president of corporate and business development at OneSpan.

“With VISION FX we are bringing a future-proof approach to digital banking authentication that sets the new standard in online transaction security while also creating a seamless user experience.”

Previously, OneSpan announced its entry into the workforce authentication market with the launch of DIGIPASS FXI BIO, a FIDO-enabled authenticator designed for passwordless, phishing-resistant authentication, and in 2023, released a partner network with early passkey token access. Alongside this, OneSpan has now introduced another device in its Digipass product line, the DIGIPASS FX7.

Article Topics

APAC  |  biometric authentication  |  DocuSign  |  electronic-signature  |  face biometrics  |  identity verification  |  KYC  |  Liquid Inc  |  OneSpan  |  selfie biometrics