Australia Post and DocuSign have partnered on an ID verification arrangement to speed up the often frustrating arrangement of verifying identification, for things like opening a bank account or signing a lease agreement, eliminating the need for Australians to prove their identity in-person in order to verify important documents.
The digital signatures market has been bubbling away for years, but usability issues, and regulatory concerns kept it in check in the years gone by. However, with the digital acceleration caused by COVID, the market is accelerating and is expected to grow to $14.1B by 2026 according to Markets and Markets, up from just $2.8 B in 2019.
In the company statement announcing the service the parties describe as Australia’s first eSignature Digital iD solution, participating businesses will be able to offer one-step ‘100 point’ ID verification eliminating the need for customers to prove their identity in-person in order to verify important documents.
The service integrates the DocuSign ID Verification with Australia Post Digital iDTM to verify signer identities for both existing and guest users.
According to Paul Cross, VP Customer Success APAC at DocuSign, “For many Australians, the bottleneck around ID verification has been the requirement to either provide verified copies of their documents or to visit an organisation in person with physical copies of their ID.”
“Once the organisation, for example, a bank or real estate agent, has checked the 100 points of ID, they often take a copy as a physical record. By integrating DocuSign eSignature and Australia Post Digital ID, we’re making it more efficient and frictionless for customers to prove their identity and access their services.”
A company statement announcing the deal says users who have an existing reusable digital ID on their Australia Post Digital iDT smartphone app can use this ID as part of the verification process. New users can enter the details from their identity documents which are checked against official sources.
Once verification is successful, users are passed back to the DocuSign eSignature application to complete their agreement. To further ease the verification process, new users are also able to create a mobile digital ID on their Australia Post Digital iDTM smartphone app for reuse as an electronic form of identification for future documents.
“When transactions contain highly sensitive, personally identifiable information, security is critical. Protecting customers is our number one priority, and this new comprehensive approach to ‘100 point’ ID verification addresses the security, privacy, compliance and validity requirements for ID verification across Australia,” says Cross.
“Combining Australia Post Digital iDT with DocuSign’s e-signature capability, enables DocuSign customers to improve their service experience, meet compliance obligations and reduce risk by eliminating the need to collect and store copies of sensitive identity documents” says Margo Stephen, Head of Australia Post Digital iDTM.
“We see this collaboration as a great opportunity to increase awareness of digital identity in Australia and give people more places to use their Australia Post Digital iD to securely and simply prove who they are when transacting with a range of services online.”