In a landmark move, SigningCloud, a digital signing solution and subsidiary of SecureMetric in Malaysia, has formed a strategic partnership with Singpass from Singapore. This collaboration aims to heighten transactional security, provide superior solutions for efficient transactions, and drive the transformation from conventional paper-based signatures to secure digital signatures.
SigningCloud plans to equip Singpass users with the capability to digitally sign documents, thereby mitigating the risks associated with traditional paper-based signatures. To fortify the security of these transactions, SigningCloud’s digital signatures will be supported by Singpass’ authentication measure. Consequently, these signatures will be legally binding and acknowledged under the Singapore’s Electronic Transactions Act.
The distinguishing feature of SigningCloud lies in its seamless integration with Singpass, renowned for being a gold standard in authentication gateways. Singpass, by leveraging signing certificates issued by the National Certification Authority, equips businesses and consumers with a platform to digitally and securely sign agreements. By capitalizing on Singpass’s robust infrastructure, SigningCloud ensures that each signature is cryptographically linked to the signer, hence, adding an extra layer of security.
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Edward Law, CEO of Securemetric, emphasizes that digital signatures are crucial not just for convenience, but also as a fundamental component in strengthening cybersecurity. He further elaborated that adopting digital signatures can help businesses and individuals protect their documents, prevent unauthorized changes, and maintain the highest standards of data integrity.
In addition to security, SigningCloud offers features aimed at enhancing user convenience. Users can create and save document templates, thereby reducing time spent on repetitive paperwork. The platform’s user-friendly interface allows for smooth document preparation, enabling users to prepare and dispatch documents for signature swiftly. A real-time document tracking feature along with notifications enhance transparency and keep all stakeholders updated on the signing progress.
Law accentuated that SigningCloud strives to eliminate the vulnerabilities associated with traditional paper-based transactions. He stated, “Our platform adheres to industry best practices and employs robust encryption techniques to safeguard our users’ information. By adopting secure digital signatures, individuals and businesses can significantly reduce the risk of fraud, enhance customer experience, and streamline their workflow processes.”
In a broader context, SigningCloud envisions playing a pivotal role in the digital signing ecosystem in the ASEAN region, with a mission to enable cross-border signing in the future.
This development coincides with other efforts to make online transactions more convenient, such as Maybank’s launch of its cross-border quick response (QR) payment service. This service allows customers traveling to Singapore, Indonesia, and Thailand to conduct cashless and instantaneous payment transactions via Maybank’s MAE app.
John Chong, Maybank’s group CEO of community financial services, opined that the cross-border QR payment service is an essential feature that facilitates travel for Malaysians abroad, as well as tourists visiting Malaysia, enabling them to conduct cashless payments through their respective country’s currency. Ultimately, this news sheds light on the evolving landscape of secure and efficient transactions, highlighting how companies like SigningCloud and Singpass are leading the charge.
This update is based on a report by Marketing Interactive.
