What is Transaction Signing (AES)?
What are its Advantages and Features?

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The new agenda of the last period in the field of digital security has been “transaction signing”. In the digitalization process, which started with an electronic signature and continued with remote identification processes, a brand new door is now opening for users.

The contract signing period begins without additional tools such as e-Signature tokens and mobile signatures in banking and finance transactions made from phones and tablets without going to a branch. So how? Let's take a closer look at the issue of transaction signing, the legal regulation of which has just been published, and discover its advantages together!

What is Transaction Signing Technically?

As it is known, in electronic signature processes, digital documents could be signed with time stamp feature via personalized e-Signature. In order to use the electronic signature certificate, e-Signature card readers with USB or bluetooth connection had to be used. In order for the personalized certificate to be signed, it had to be activated with a PIN every time.

Transaction signing offers users a much more advanced and practical version of this process. Technically known as "Advanced Electronic Signature", this signature type makes it possible to sign without the need for tokens. Translated into Turkish as "Transaction Signing", this tool is created with instant and unchangeable codes created within the framework of personal information after remote authentication.

After presenting all the details about the contract or other type of documents to be signed to the signatory, transaction signing is activated and the contract is signed in seconds with a code generated on the mobile application. In short, users can now make a legally valid signing transaction with a single code in their mobile calls with banks or other financial institutions. Contact us for more technical information!

How Does the Transaction Signing Process Happen?

İşlem imzalama ya da gelişmiş e-İmza deneyimini gelin, kısa bir şekilde gözümüzde canlandıralım. Hepimizin tercihi olan mobil ve online hizmetler için oluşturulan dijital uygulamalara giriş yapıyoruz. Bu aşamada çift faktörlü kimlik doğrulama yöntemlerini kullanıyoruz.

Application Processes and Authentication

Then we connect to the service of the application to apply and process. In order to securely log into the service, we follow the following authentication steps specified in the legislation:

A quick note: We invite you to the LiveAuth world for the most practical and safest way to perform all these operations. Contact us now for our authentication solution LiveAuth!

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Contract Submission and Customer Check

After the legal authentication process, the video call phase comes. Of course, the technical services used for video calls must also comply with legal criteria. At this point, LiveAuth Communicator is an extremely useful alternative.

During the video call, the information obtained during the identification is confirmed by the customer representative, and artificial intelligence services continue the identity verification process by analyzing the person's mood and deepfake. Then, the documents related to the contract to be made are submitted to the control of the prospective customer via the mobile application. Contract clauses, conditions and amount information must be clearly declared at this stage.

Verbal Approval and Transaction Signing Process

If the prospect or customer approves the control and contract conditions, the process of signing the transaction begins. At this stage, with the verbal approval of the customer, the crypto code required for signing and produced only for that transaction is generated. Except for some cases determined by the legislation, this code must be generated in the application used by the bank.

After the agreement conditions are approved, the code can be sent via SMS in case of any problem or break in the mobile application. However, it is not possible to perform this operation very often, since SMS services do not provide enough guarantees in terms of security.

A New Era Begins in High Security Remote Finance Transactions with Transaction Signing!

As can be seen, the transaction signing process reduces the effort of the customer and the prospective customer in financial transactions to almost zero. It is possible for users to connect to bank applications and complete their transactions with verbal confirmation after identity verification. At this point, both the cost and effort for banks and financial institutions are considerably reduced. With this new process, problems such as branch costs, loss of time, and losses due to customers without e-Signature are eliminated.

Thanks to transaction signing, banks and financial institutions can complete transactions in minutes, which will take weeks of effort, while customers enjoy making transactions without even leaving their homes.

In this brand new phase of digital transformation, ArkSigner solutions continue to evolve to provide users with a flawless experience. Click now to learn about our remote customer acquisition solutions LiveAuth and LiveAuth Communicator. You can contact us here for process, legislation, procedure and price information.