Why the eSignature platform needs an upgrade

When the first eSignature platforms were introduced two decades ago, they solved a real problem. They replaced slow, paper-based signing with faster digital workflows, making it easier for people to complete agreements without being in the same place.

It was a change that helped to set the stage for more flexible ways of working and doing business. It made remote work possible at scale and removed a significant amount of friction from everyday transactions.

However, these platforms were designed for a different era, one that prioritized convenience and speed rather than verifying the identity of the person signing the document. That distinction didn't matter as much when the main risk was someone forgetting to sign a page. It matters a lot more now, and it's driving the next phase of how digital agreements are handled.

Today, organizations are using digital agreements for high-stakes transactions, from hiring employees to securing property and accessing finance. In those situations, it's not enough to know that a document has been signed. There also needs to be greater confidence in who signed it.

AI has changed the threat landscape

Meanwhile, the environment around eSignature platforms has changed considerably over the past few years.

AI-powered tools are making it easier to replicate handwritten signatures, produce forged documents and generate synthetic IDs that pass standard verification checks. In our new report, Digital identity in business: The threats, impact, and opportunities, 94% of organizations said agreement workflows are at least somewhat vulnerable to AI-powered fraud, with nearly half (48%) rating that vulnerability as very or extremely high.

This risk is already playing out in the real world. We've seen cases where individuals are impersonated online, with agreements issued under false identities and payments then made on the basis of those agreements. While these scenarios were possible before, they're now far easier to execute and harder to detect.

The market is moving

Organizations are starting to recognize where existing processes fall short, and that's changing how they think about the integrity of their agreements and whether current signing processes provide the level of assurance they need.

Many are already adjusting how they approach identity verification. More than half of the businesses we surveyed (54%) believe current eSignature platforms either need security improvements or aren't sufficient for important agreements. At the same time, 77% plan to increase investment in identity verification over the next two years.

Speed is no longer the main priority. There also needs to be confidence in who is on the other side of the transaction, without slowing the process down.

What needs to change

The next phase of eSignature platforms is already moving beyond simply capturing a signature and towards verifying the identity behind it.

In practice, that means building identity verification into the signing workflow itself, so you can confirm the right person signed, not just that someone with access to an email link clicked a button. At the same time, stronger verification can't come at the expense of the experience. Signing still needs to feel simple and seamless.

We're already starting to see how this can work in practice. Lumin's Verified Digital Signing is one example, verifying the signer against a verified digital credential at the point of signing, instead of trusting whoever has access to the inbox.

Find out more

Organizations need to verify who they're dealing with, but they're not going to accept slower or more complex processes to do it. The focus now is on making identity verification part of the workflow.

For a deeper view of how digital identity fraud is affecting organizations, and how they're responding, download the full report: Digital identity in business: The threats, impact, and opportunities.