Interview with Naveen Chava, Chief Executive Officer, IDSign
Incepted in 2018, IDSign is an emerging startup offering robustly integrated verifiable digital identification and signing solutions. Its platform-agnostic ecosystem comprises identity management, digital verification and digital signing, simplifying digital verification and consent based data sharing, unlike the traditional method. Accredited as ‘Certifying Authority’ by the Government of India, IDSign’s first-ever mobile app thrives to bridge the market gap by removing the need for a physical token and limitation to use a desktop for digital signing under IT Act. IDSign offers enablement of digital signing across multiple devices also supporting traditional tokens. In other terms, the app (shortly available on iOS and Android) will enable mobile users to sign any document digitally; use mobile as a primary ID that can be verifiable by the platform and ability to sign all business related documents, agreements and filings with Tax & Government authorities anytime , anywhere. To top it, any document signed using IDSign app is legally valid in India. This element perhaps makes IDSign stand out from other players operating in the domain.
Could you please elucidate on the in-built technology which makes the IDSign app robust and unique?
The patent- pending technology allows any application to digitally get user consent and digitally sign without intensive integration efforts. The uniqueness comes from the fact that the app and platform combination ensures clutter-free user experience across devices of various operating systems for multiple verticals.
How do you think the mobile-app based solution would pave the way forward for a revolutionized digital verification and signing markets?
We live in a dynamic world with the new generation that has moved to using only mobile phone for anything from banking to shopping. The way forward for any digital identity or verification or bank on boarding or e-sign will be on mobile so the users can implement it anytime and anywhere. With the new data privacy law, the platform provides simplest way to receive verifiable consent to access and share data. With high-decibel security systems such as biometrics and Global PKI standards, the platform is meant to ease out day to day life functionalities, ensuring privacy of personal data.
What is your game-plan to leverage business opportunities, as the industry is set to witness an exponential growth in the coming years?
The game plan comes from our approach to the different verticals of banking, NBFCs, healthcare, corporate e-signing and across horizontals of on boarding, signing of consents or any paper based transaction between different stake holders that corporates deal with on a daily basis. All of the use cases will be seamless, reduced cycle times and digital with access from anywhere.
Recently, the RBI rolled out new measures to ease out the process of digital KYC mandate? How would it help the industry?
The recent RBI’s amendment to its KYC guidelines like rollout of video-based KYC process is a welcoming move for the sector. This will help fasten the process of identification and ensure real-time on-board customers, irrespective of the geographically limitations. IDSign’s app is built on similar line that offers a unique solution to banks which works very well with latest RBI guidelines. The solution in combination with other features can ensure entire on boarding for various products of a bank can be completely paperless.
Is there any pain points of the sector that need to be addressed immediately?
Given the demand for digital verification and signing as a result of technology shift across industries, which is currently limited to desktop-only, there is a large scope for newer solutions to ensure sophisticated and integrity process with a touch of quantum technologies. Some of the issue areas include: inability to digitally sign documents and other requests on Mobile; Lack of Aadhaar independent digital signing for e-signing for corporate application on web and on mobile; Complete paperless account based issuance for digital tokens for desktop and mobile and ability to sign and store documents across any device and OS in a simplified manner without need for any applications.