Livesign is an Australian innovation, backed by the experience and expertise of TLS, an independent Australian digital start-up that delivers legal solutions to both businesses and consumers.
In recent years, the witnessing of documents has been left behind in the shift to digital signing.
With the adoption of digital technologies accelerating, particularly since COVID-19, the risk of identity theft and digital fraud has also become more prevalent. For companies, closing the gap between knowing who is digitally signing the documents and confirming that the individual is who they say they are, has never been more crucial.
Livesign is the first company in Australia to take the signature into the digital age by connecting digital document signing with verification of identity. CEO of The Lawstore Ian Hendey said, 'we saw it as critical to develop technology where you can digitally sign a document and that person could prove their identity at exactly the same time, so you know with certainty the person signing your document is who they say they are.'
“We refer to this as witnessing reimagined - not removed,” Mr Hendey said.
“So your mobile phone has now effectively become the tool that we use as the witness in a digital world,” he added.
Livesign is highly secure. Through ReadID, the solution extracted the most trusted government ID – a passport photo - via the ePassport chip and biometrically face-matches that trusted image to the person behind the device, in real time, reducing the potential of identity fraud and human error.
Digital signing of Legal documents
TLS started in July 2020 to deliver trusted digital innovative legal solutions for Australian businesses. They identified a growing problem in the Australian market for identity verification of digital signers of legal documents. They are concerned about the separation of signing documents digitally and Identity Verification of the signer of documents, what they call Verification of Signer (VOS).
The pandemic accelerated the shift to digital signatures and digital Identity Verification in Australia and globally, but in doing so increased the potential for fraud. Currently, thousands of important documents are digitally signed each day without anyone verifying that the person signing the document is who they claim to be.
Livesign closes the risk of not having a physical witness, by biometrically binding the person behind the digital signature (i.e., the person holding the smartphone) to their government ID at the point of signing. This means the digital signature cannot be completed by anyone else, and it is time-stamped by a computer, making it more secure and less open to fraud than previous processes.
Proven NFC technology for identity verification
CEO of TLS, Ian Hendey was already aware of the strength of NFC technology for identity verification and was looking for a partner with a proven NFC technology solution to ensure that they could create their ‘Titanium Strength identity verification’. "We started a global search for NFC providers and tested the ReadID Me app. We liked what we saw."
They wanted the best technology behind this that would offer titanium standard identity verification for Livesign. After testing ReadID technology, they concluded that there is no better solution for identity verification.
“All the data is coming directly out of the chip, it cannot be tampered with, and the customer’s name can be validated, reducing rework and errors in a business’s client information.”
ReadID is linked to the ICAO standards and together with a broad reach of passports globally, it creates user-friendly and fully remote trusted identity verification.
ReadID conversion rates reach beyond 97%, with remote identity verification from the comfort of people’s homes.
With a passion for solving problems for the Australian market and creating a safer digital contract world, the TLS team designed their secure platform Livesign to guide customers through user-friendly and efficient processes in daily work life.
ReadID, an important component in Livesign, has created a secure and trusted identity verification.
“Livesign binds the individual behind the signature to the document in real-time. Which is a huge difference compared to other digital signing providers."