A subsidiary company of Alankit Limited, a leading private player in the e-governance space, Verasys Technologies has announced its entry into the electronic signature space to provide secure e-Sign service under the brand name Vsign.
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, Digital Signature Certificate issuance request, Digital Signature creation and affixation and 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.
Revealing the rationale behind the venture, Mr. Ankit Agarwal, Managing Director, Alankit Limited said, “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.”
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.
How e-Signatures work
A key feature of the e-Sign solution is its simple process and flexibility in configuration structure, which is aligned to the e-KYC services, with the facility to record e-KYC IDs and enable instant verification of the identity of the signatory. The authentication options for e-KYC comprise both biometric features as well as OTP function.
The online signature is validated by an OTP based authentication process which is enabled through e-KYC verification of the e-Sign user, with simultaneous encrypted signature on the document being accomplished with the help of a secure backend server of a service provider. The e-Sign services can be provided, in the first place, only by legally authorized third-party service providers with a valid licence as Certifying Authorities (CA). Verasys Technologies is one amongst such legally recognized organizations.
To further enhance the security and ensure user privacy, the e-Sign requires submission of only the thumbprint (hash) for completion of the signature formalities, rather than the entire document. 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 speeded up the process to a day or two, as against the traditional, prolonged tenure of 2-3 weeks.
The Government’s Digital India program is fast gaining traction and is witnessing increased adoption of paperless, eco-friendly technologies. Use of digital signature is a step in this direction. 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.
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Alankit Ltd. ties up with UTI for digital PAN Card Services
E-governance service provider Alankit Ltd. has tied up with state-owned UTI Infrastructure Technology and Services Ltd. to provide PAN card services to the citizens digitally across India at all its facilitation centres.
UTI Infrastructure Technology is a SEBI registered Permanent Category-1 Registrar to an Issue and Share Transfer Agent, offering R&T services to the investors of Mutual Fund AMCs, Bond/Deposit/shareholders of Corporate and Financial Institutions.
With this strategic agreement, Alankit Ltd will offer hassle-free and seamless PAN Card services that includes New PAN Card application, PAN Correction, Duplicate PAN, PAN card of NRIs, Lost PAN, e-PAN Card etc.
Alankit through its nationwide network and Business Associates, will offer these services, making it easy for the customers.
Commenting on this agreement, Ankit Agarwal, MD Alankit Ltd. said “We are delighted to be partnered with UTI, as they are already one of the established leaders of PAN card services. Now, we can address and resolve all the PAN card related grievances digitally. Alankit has always acted as the last mile between the Government and the citizens of the country and now we would be fulfilling it by offering PAN card services.”
Additional Information:
Verasys Technologies Private Limited, incorporated on August 24, 2016 under the Companies Act, 2013, stands among one of the recognized companies for providing digital signature certificates and related services. With the Government of India driving ‘Digital India’, we do not see the demand for digital signatures and electronic signatures coming down in the next few years. Some of the examples include Income Tax Return filings, MCA, PF, GST etc. We issue digital signatures based on Aadhaar e-KYC making the entire process of obtaining a DSC quick and paperless. Practically, we can issue a DSC within minutes versus the traditional way of making a paper application and providing certified documents. We have a dedicated team of professionals, who understand the domain, government rules and regulations as well as the specific business needs and provide the best eSign or electronic signature related services. Our company, a subsidiary of Alankit, is the 8th Certified Authority (CA) to have received the DSC license by the CCA (Control of Certifying Authority).
Specialties:
Digital signatures, Certifying Authority, DSC, PDF Signer, Digital Signature Certificate, Multiple PDF Signer, eKYC, Sign documents digitally, epass tokens 300, esign, electronic signature, and PDF Signer
Source: Smestreet, Morungexpress, Linkedin, Wikipedia
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