SmartSign

SmartSign is a secured signature application that can be easily integrated into existing applications with no complexity. Sign documents with a few simple steps anywhere!

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Inspiration

According to a new McKinsey Global Survey of executives, companies have accelerated the digitization of their customer operations post covid pandemic. Document signature is a crucial part of every industry nowadays. It could save plenty of time, costs and also increase security and transparency if the process is digitalized. This would result in improving overall productivity and trust across the world. SmartSign has been developed considering aspects of embedded finance, which makes it capable of providing financial solutions inside ERPs as well as any application. It ensures a seamless experience for end-users, providing an integrated solution for e-signatures - anywhere, anytime!

What it does

• SmartSign is an innovative document signature solution across a variety of use-cases such as Finance, Sales, Human Resources, Legal, etc.

• It can be integrated with your current systems without the need of managing complex architecture and time-consuming processes. It's a low / no-code, API, and web-based solution. Any web application can benefit from it. Greenfield, Existing UI, embedders anywhere

• It is compliant with best-in-class data safety, and also allows you to meet the different regulatory requirements of your industry and be KYC (know your customer) and AML (anti-money laundering) compliant.

• Contributes to the expansion of trustworthy customer relationships; more rapidly and efficiently.

• The workflow is the following, for instance during an account opening contract signature

1) ID Document Capture: The platform guides users with simple steps to follow to capture the identity document

2) Checking document and its holder: SmartSign automatically verified the authenticity of the document and confirms the identity of the bearer

3) Complete a quick facial recognition validation, to validate the owner of the Id Card submitting the application is actually who he is

4) Send a one-time password via SMS

5) Download digitally signed document: Once the process is completed, the user would be able to download the digitally signed document. ID card verification footprint can be seen embedded inside the e-signature of the document.

6) Considering integration with Finastra's core products, Finastra's core products will make a call to with Service Provider Interface and display returned URL inside an iframe. All further steps till signature are handled by a service provider (fintech) due to which SmartSign is capable of integrating with systems with low/no-code.

• Advantages:

1) Fully Digitalized & one-stop solution: Users have a seamless digital experience without waiting for any manual verifications and approvals, also users don’t need to leave the application till the completion of the process.

2) Adaptable: Selective verification methods. For a use-case like an account opening, you can configure face & OTP verification identity whereas for other use-cases we can only keep OTP verification.

3) Faster: Usual document signature time < 10 minutes

4) Easier: Sign anytime with a simple 3-step process, practically from anywhere

5) Cost-Effective: Automate the manual process, removes the need for paperwork

6) Risk Reducing: Standardize and compliance the following process

How we built it

We leverage FusionFabric.cloud APIs Web-Based Interface: https://developer.fusionfabric.cloud/api/platform-web-interaction-v1 and Web URL session callback: https://developer.fusionfabric.cloud/api/platform-web-interaction-callback-v1/docs

We adapt the solution within a Fintech solution called https://www.checknsign.io/ and integrate it inside a demo app.

Challenges we ran into

FFDC API can be enhanced to support all the capabilities of e signature and customization. E-signature is not worldwide standardized yet, and some countries require x requirement, some z.

Accomplishments that we're proud of

The future of finance is being open, in this project we are open to innovation that comes from the inside of Finastra but as well as outside, going beyond our resources, we found a partner happy to collaborate for this hackathon, capable to offer a sandbox environment for us.

What we learned

FusionFabric.cloud is awesome in terms of the capacity of integration. This platform URL API allows having very fast results, fintech hosting the user experience. We need to leverage the strength of each other, the power of FusionFabric.cloud combined with the innovative solution of SmartSign.io allows us to build very powerful solution with just no code.

What's next for SmartSign

We plan to add the offer inside FusionFabric.cloud store and also to integrate it inside Finastra products. But that's not the end, the theme of the hackathon is Embedded finance, so we will integrate this e-signature model power by Finastra and CheckSign.io inside ERP, CRM... and beyond!

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