Authentication and digital agreements company OneSpan Inc. today unveiled new and planned features for its electronic signature service OneSpan Sign that go beyond the signing step.
The update targets the parts of the agreement process that slow down banks and other financial institutions. Electronic signing itself has become an expected part of digital business, OneSpan said, but the burden now comes from the surrounding work, including document preparation, identity checks and handling exceptions.
Ashish Jain, chief technology officer, said the value of an agreement lies in “the business outcome that the agreement enables.” At a bank, this could be a newly opened account, a loan or another customer transaction. OneSpan applies intelligence “where unnecessary work can be avoided,” he said.
On the preparation page, employees creating agreements receive a redesigned interface based on a single dashboard. Artificial intelligence helps you place fields in the document. Customers who review the agreement before signing can view an AI-generated summary and the software will answer their questions about the document.
Several of the additions deal with verification. Automated order checks are intended to detect problems in a document earlier and check attachments for manipulation. Advanced biometric identity verification is part of the package, as is support for digital credentials and wallets.
According to OneSpan, none of this is intended to slow down customers. The company launched its DigipassONE authentication platform in July with built-in support for digital credentials.
As the process progresses, planned support for the Model Context Protocol will enable authorized AI agents to work directly with contract flows and data. OneSpan is also expanding its integration capabilities and developing agent workflows. The company expects the changes to reduce the number of handovers once an agreement is signed.
OneSpan divides its products into cybersecurity and digital agreements portfolios. Financial institutions have been customers for more than 30 years and the company says more than 60% of the world’s 100 largest banks use its technology. More than 100 million transactions are processed on the electronic signature site every year.
Andrew Gens, AI software research analyst at International Data Corp., said customers want contract data that is linked to broader business systems and AI initiatives. “The value creation goes beyond signature capture and into the broader contract lifecycle,” he said.
OneSpan described the package as a mix of new and planned features and did not provide release dates for individual features. The company will discuss the update in a webinar on October 14th.
Image: OneSpan
Support our mission to keep content open and free by interacting with theCUBE community. Join theCUBE Alumni Trust Networkwhere technology leaders connect, share information and create opportunities.
- Over 15 million viewers of theCUBE videosto spark conversations about AI, cloud, cybersecurity and more
- Over 11.4k theCUBE alumni — Connect with more than 11,400 technology and business leaders shaping the future through a unique, trusted network
Founded by tech visionaries John Furrier and Dave Vellante, SiliconANGLE Media has built a dynamic ecosystem of industry-leading digital media brands, reaching over 15 million elite tech professionals. Our new proprietary theCUBE AI Video Cloud is a game-changer in audience engagement, leveraging the theCUBEai.com neural network to help technology companies make data-driven decisions and stay at the forefront of the industry conversation.
