MALAYSIA – 23 August 2021 – Increased remote work requirements have prompted companies to embrace digital technology in order to meet new consumer demands and protect fragile supply chains in the last year. Furthermore, the Malaysian government encourages the use of digital signatures to reduce paper transactions and maintain physical distance during the Covid-19 epidemic.
Signitory, a major blockchain-engineered digital signature solution provider, believes that digital signatures are here to stay beyond the epidemic. The firm released their app on Google PlayStore, aiming to improve document signing by ensuring simplicity, compliance, and security. Signitory’s low-cost digital signature solution allows millions of small and medium-sized businesses (SMEs) to generate and legalise paperwork.
Signitory’s KYC (Know-Your-Customer) verification is a feature that is encouraged by both government agencies and financial institutions. It is powered by the most recent Blockchain and SaaS technology. By guaranteeing that signees are registered with their authentic identity cards, it enables real-time validation and eliminates fraud. Furthermore, Signitory’s blockchain technology ensures that all signed papers are tamper-proof and can be traced back to their time stamp. Its SaaS technology allows SMEs to use the Signitory app from anywhere in the globe.
“We are officially disrupting the digital signature business. Our blockchain-powered digital signature technology enables SMEs to sign documents remotely and securely”, KC Lai, CEO of Signitory, said “Because of the simplicity, effectiveness, and assurance that digital signatures provide, we believe it will become the standard.”
A free plan is being launched to entice SMEs to test out this innovative technology. From August 11th through September 30th, 2021, first-time users can generate, sign, and organise up to FIVE documents each month. Documents may be uploaded, modified, and submitted for signatures with no prior expertise, allowing anybody to create a completely legal e-contract in a matter of minutes.
Signitory is ideal for organisations of all sizes and industries looking to accelerate sales, transactions, new hiring, collaborations, and other business endeavours.
“A paperless method minimises client waiting times and aids in the development of consumer confidence. Furthermore, you may have e-contracts legally signed by international business partners anywhere in the globe using our SaaS blockchain built digital-signature solution. This is just another reason why we believe the digital signatures service will quickly spread outside the epidemic,” Carlo Chung, CTO of Signitory, also commented.
Most multinational corporations (MNCs) in Malaysia already use e-signature systems in their human resources departments for recruiting and job confirmation. From the mid-2020s, when the COVID epidemic initially caused Malaysia’s Movement Control Order (MCO) to be established, usage rose tenfold. MNCs had made it essential for their workers to work from home by that point.
According to Fortune Business Insights, the digital signature industry will be worth USD7.99 billion by 2027. Larger organisations will push the rising adoption of digital signatures, as well as the digitization of corporate processes, as a result of the pandemic.
It will have a cascading impact as SMEs improve their digital systems in order to do business with larger businesses. A digital signature solution will eventually become the standard. It’s logical. A paperless digital signature system can improve workflow efficiency, ease, and speed.
About Signitory
In 2020 Kee Choy Lai and Carlo Chung established Signitory to create a more comprehensive experience with signing by infusing their system with blockchain. Signitory’s ultimate goal is to improve people’s quality of life by increasing the efficiency and coordination in their businesses. Signitory uses blockchain technology for this purpose, as well as other digital tools that can increase productivity and effectiveness in a business.
