The technological enhancement ‘VideoSign Proof of Signature’ of SuiteBox’s digital conferencing and meeting application will involve capturing a photo of the document signer to ensure and confirm their identity at the time of signing, according to a statement.
Other forms of identification documentation such as a driver’s licence or passport photo can be added to the signature verification, the statement said.
This will complement the other features of the application, which records online meetings, screenshare documents and allows all present parties to sign documents within the meeting.
SuiteBox chief executive Ian Dunbar said the new feature “closes the loop on any ambiguities around who has signed a document during a meeting”.
“The VideoSign feature offers the proof that the person(s) present within the meeting are truly the ones signing the digital documents,” he said.
“This is a subtle, but incredibly important, verification process that offers SuiteBox clients peace of mind that the signatures executed in the meeting are legitimate and have proof of identity stored within the meeting for all signers.”
Mr Dunbar added that clients saved around five hours a week on administration and travel time with the application, speeding up the close of business from days or weeks to minutes.
“The addition of VideoSign now ensures that the person signing a document is beyond doubt,” he said.
SuiteBox, which is headquartered in New Zealand, launched the app to Australian advisers in May 2015 and in June this year won a contract to roll out the application across financial adviser network Aon.