Identity security firm Entrust has embedded its Qualified Electronic Signatures (QES) into the KYC platform of Veyco, a UK-based property fraud prevention company. The partnership was announced after His Majesty’s Land Registry (HMLR) confirmed last year that it would accept digital signatures.
Entrust’s and Veyco’s e-signature product is already being used by Nationwide Building Society, the largest building society in the world and one of the UK’s largest mortgage lenders. Thanks to the QES, the lender will allow clients to sign mortgage deeds electronically, according to Simon Hughes, director at Veyco.
The electronic signature combines biometric identity verification and allows property professionals to digitally sign contracts and legal documents with the same legal effect as a handwritten signature.
Users of the Veyco app can verify their identity by photographing their ID and submitting a selfie video for biometric verification. Once verified, a qualified certificate is issued by Namirial, the Qualified Trust Service Provider (QTSP) partner for Entrust. The QES is applied to the document to protect it from tampering and bind it to the verified signer.
“Our partnership with Veyco delivers a single, secure solution that empowers banks, mortgage lenders, estate agents, conveyancers, and legal firms to verify users with confidence and execute documents digitally with legal standing,” says Minh Nguyen, vice president of Identity Security at Entrust.
Entrust has recently announced it would scale its Citizen Identity Orchestration solution with the help of the Home Office, after receiving backing from the UK’s Electronic Travel Authorization (ETA) and eVISA systems. Applicants for ETAs or visas can apply through the ETA App or GOV.UK, scanning their passport chip and completing a face biometrics and liveness check with a selfie for identity verification.
Article Topics
digital ID | electronic-signature | Entrust | KYC | land registry | Namirial | Qualified Trust Service Provider (QTSP) | selfie biometrics | UK digital ID