Posted by Mumbai: Verasys Technologies, a subsidiary of Alankit Limited, a player in the e-Governance space has entered into the India’s digital signature services segment. Under the brand name Vsign, it will offer secure e-Sign service across India.
Armed with a Digital Signature Certificate (DSC) as a Certified Authority (CA) issued by the CCA (Control of Certifying Authority), Alankit via Verasys Technologies offers secure e-signatures with diverse, inbuilt functionalities including user consent, DSC issuance request, digital signature creation and affixation. Also, an established audit trail to confirm the authenticity of transactions and data integrity, all in conformity with the regulatory framework and relevant provisions of the Information Technology Act.
“For any change to reap optimal results, it is necessary for all players to contribute and Verasys Technologies, a subsidiary of Alankit is doing just that. With proven technology expertise, Alankit is committed to Digital transformation in India. With this license, we aim to utilize and further optimize and increase the viability of our franchise network to benefit the end consumer,” said Ankit Agarwal, MD – Alankit Limited.
Not to mention, e-Sign is a convenient digital tool that facilitates the digital signing of documents along with seamless integration capabilities with service delivery applications via an API-based model. It’s worth noting that company’s e-Sign service estimated to be 25-30% more economical compared to its peers in the market.
Additionally, the security concerns surrounding digital signatures have been adequately addressed. The private keys of the e-sign users are developed on a Hardware Security Module (HSM) that is damaged immediately upon one-time use. Further, the short validity period of the certificate mitigates concerns on the key storage and key protection front.
Verasys Technologies is amongst legally recognized and authorized companies to provide e-Sign services in India.
e-Sign services allow easy access to online signature function, irrespective of time and place, without the need for physical presence. In case of processes with mandatory signature requirements, Alankit, through Verasys Technologies, has drastically speed up the process to a day or two, as against the traditional, prolonged tenure of 2-3 weeks.
Given that the signature function operates as a widely accepted authorization tool with application across industry segments, Alankit expects to realise higher volume of user subscriptions mainly from banks, NBFCs, insurance companies, government department and other sectors, where secure authentication of online transactions and implementation of best practices in governance, risk management, and compliance (GRC) remains a core priority and where the physical signature can be successfully substituted with an e-signature.Vsign is aiming a subscription base of over 5 million in its launch year.