Data sovereignty for Australian law firms means keeping data within Australia’s legal jurisdiction. A leading e-signature provider, eSignLive has addressed these concerns by ensuring that Australian documents can be e-signed without leaving Australian-based data centres.
Leveraging IBM Cloud SoftLayer data centres in Sydney and Melbourne to process digital transactions initiated through its cloud electronic signature solution, the e-signature choice for business, eSignLive, is addressing the need for in-country data residency for the Australian market while securing its leadership position with the most cloud locations globally.
A recent eSignLive poll conducted by Galaxy Research, found more than 50 percent of Australians were concerned that information in the cloud may not be stored within an Australian jurisdiction, and therefore not be subject to Australian privacy laws.
The survey also revealed that more than 50 percent of those aged 18-34 would prefer to add their signature electronically enabling anytime, anywhere transactions. With mobile as the channel of choice for younger demographics, signing on a mobile device is essential for remote account openings and new business applications.
According to eSignLive President Tommy Petrogiannis, “Many Australian organisations are enabling digital transformation strategies because the benefits and the laws are clear. Organisations and their customers understand that not only is this technology more secure than ‘ink and paper’, it is also more cost and time efficient and ultimately provides a better customer experience, delivering faster approval times for applications and reducing error rates on forms.
“Addressing the needs of the Australian market is in line with an announcement made last year to capitalise on IBM Cloud’s network of data centres, support the growing adoption of e-signatures internationally and meet in-country data residency requirements,” he explained.
Jim Comfort, general manager of cloud services for IBM added, “Our global network of IBM Cloud data centre locations, along with on-the-ground expertise, will provide customers with the best support and the most reliable availability, security and performance for their local and worldwide business transactions.”
With a focus on regulated markets like banking, insurance, healthcare and government where transactions touch both the customer and internal users, eSignLive is currently working with a ‘big four’ Australian bank, and has partnerships with local technology partners including Nuvola Group, Axient and Avoka.
“Avoka’s goal is to help banks, wealth managers and insurance carriers digitally transform their businesses, making customer engagement easier and increasing customer satisfaction. A point of friction in this process has been keeping the process electronic, without falling to paper to collect a signature,” said Philip Copeland, CEO, Avoka. “Together we are eliminating these issues.”
About eSignLive™ by VASCO®
eSignLive ™ is the electronic signature solution behind some of the world’s most trusted brands. Regulated industries and top analyst firms recognize eSignLive’s products and services for their ability to balance the highest levels of security and compliance with ease-of-use while automating any process – from the simplest, internal signing workflow to the most complex, customer-facing transactions. Available in the cloud and on-premises, the eSignLive solution offers a scalable platform to support an organization’s digital transformation strategy across the enterprise – today and tomorrow.
eSignLive is the trade name of Silanis Technology Inc., a VASCO group company. VASCO Data Security International Inc., a global leader in authentication, electronic signatures and identity management, enables more than 10,000 customers in 100 countries to secure access, manage identities, verify transactions and protect assets across financial, enterprise, e-commerce, government and healthcare markets. Learn more at www.esignlive.com.