How 2FA & eSignatures Ensure the Security of Digital Documents
With the lightning-fast pace of digitization, it is only natural that there is an unprecedented increase in the frequency and quality of online attacks. In addition, the COVID-19 pandemic has forced entire workforces to start working virtually. As a result, industries embracing the digital initiative have experienced resounding success. However, with this leap came the threats and increased risks of cyberattacks on their systems.
Organizations looking to prevent cyberattacks need a resilient and accessible cybersecurity strategy. The aim is to adapt to reinforce defenses and manage risks. However, many businesses find indulging in product innovation and embedding accurate security measures challenging.
Data is the new oil, an invaluable resource many want to pay big bucks for. Unfortunately, this has resulted in data breaches that have cost organizations millions of dollars and devastation.
Cybercrime costs can reach $10.5T annually by 2025 – Cybercrime Ventures
Information security is of prime importance and acts as a security moat against malicious actors. Once a cyberattack hits a business, it takes a considerable amount of material and physical resources to come out of it unscathed, especially in today's world with eyes and ears on every screen. However, by taking the adage 'prevention is better than cure,' companies can invest in simple solutions to strengthen their systems and avoid such security lapses. Two-factor authentication (2FA) is a simple method to prevent unauthorized system access. It provides users with an extra layer of security and helps them become more proactive before opening suspicious emails.
What is 2FA?
As cybercrime becomes more sophisticated, organizations must upgrade their legacy systems to counter it. 2FA helps employees in organizations prevent unauthorized access to their accounts, documents, etc. The fact is that if your security depends only on one password, then you can't really call it security. Most people are likely to set rudimentary passwords around birthdates, names, or names of pets, etc. Two-factor authentication (2FA) Two-factor authentication (2FA) provides your accounts with an extra blanket of security.
Even if a password is stolen, this method is a safe bet. Enabling 2FA will protect accounts from being used maliciously and help companies provide access to the right users.
Common Types of 2FA
- SMS Text-message and Voice-based 2FA
2FA is a text with a six-digit code sent to the employee's phone to verify their identity. It is better known and trusted due to the technology employed by major corporations. Similarly, a voice-based 2FA is where a user is called, and the one-time usable code is verbally delivered. For companies dealing with low-risk levels, this is all you need.
- Software Tokens for 2FA
A software-generated two-factor authentication code that needs a software or mobile application to function. Companies highly value it due to the time limitation of the password. In addition, it deters online hackers and is available for wearables, desktop PCs, and smartphones.
- Hardware Tokens for 2FA
A hardware token is a small, physical, two-step authentication device used to access electronically restricted resources. There are versions of hardware tokens that transfer the 2FA code when plugged into the computer or laptop’s USB port.
- Push Notifications
Push notifications are sent by the website or mobile application to the user’s device. It alerts users of the attempt and asks them to approve or deny access with a single tap.
What are Electronic Signatures?
Electronic signatures or eSignatures are legally binding signatures organizations or individuals use to provide their consent on digital documents. They help curb the use of paper and enable users to be efficient and resourceful. They are the digital equivalent of wet or handwritten signatures and validate the identity of users. Electronic signatures also comply with major electronic signature laws worldwide, helping companies provide their consent from smartphones, workspaces, or any other location, legally and securely.
Electronic signatures serve as undeniable proof in digital documents. However, while digital signatures are effective against data tampering and impersonation, there are always limits. For example, valid signatures can fool users into trusting emails from unknown actors and have their information compromised. To counter this, 2FA is used to ensure data integrity and applications' security.
How 2FA Secures Electronic Signatures
When you get a two-factor authentication with your eSignature account, you protect not only your digital documents but also your users and their access. With 2FA, you can decide which user gets the authority to edit the information, while others get Read-Only rights.
This helps companies in protecting their data successfully without too much hassle and control from their end. Even if most devices lack basic security, like anti-virus software, this method is an easy-to-integrate security step that helps in protecting users from malware.
Moreover, 2FA offers companies a solution that has a minimal impact on daily operations. The frictionless authentication allows users to access resources securely without cumbersome training sessions.
How DrySign is the Best Solution
DrySign is a digital signature solution that provides a single platform for electronically signing, sharing, and storing digital documents. Here are some advantages of DrySign that set it apart:
- Simple to Use – It is easy to use, allowing users to complete the entire process within minutes.
- Automates Workflows – DrySign automates the signature workflow of any document end-to-end by eliminating the need to print or manually handle paper at any point.
- Secures Signatures and Documents – It protects the document from mishandling, loss, and other risks. Moreover, DrySign digital signatures are encrypted and password protected as an extra measure against hacking attempts.
- Offers Convenience – Electronic signatures are highly convenient and easy to use, even for those who are not tech-friendly. They are used to sign all forms of digital documents from any device.
- Connects Business Operations – Electronic signatures help organizations reach across business departments and encourage collaboration.
Does DrySign Offer 2FA?
Electronic signatures like DrySign use two-factor authentication (2FA) and a one-time password (OTP) to limit document access. It provides access only to authorized users and complies with the latest laws and regulations in electronic signature globally to make online transactions secure.
In addition, DrySign is also compliant with the two primary electronic signature acts in the United States, the Electronic Signatures in Global and National Commerce (ESIGN) Act and the Uniform Electronic Transactions Act (UETA). Both laws enforce eSignatures as legally binding and applicable on forms, contracts, and other documents.
DrySign, a trustworthy and reliable electronic signature solution provider, helps companies keep their documents safe and easy to access. It helps prevent sensitive information from landing with the wrong people while maintaining secure records from start to finish.
Get the best of 2FA and digital signatures with DrySign.
DISCLAIMER: The information on this site is for general information purposes only and is not intended to serve as legal advice. Laws governing the subject matter may change quickly, and Exela cannot guarantee that all the information on this site is current or correct. Should you have specific legal questions about any of the information on this site, you should consult with a licensed attorney in your area.