OneSpan Sign takes aim at the slow work around bank agreements

OneSpan Inc., a digital agreements and authentication company, has introduced enhancements to its OneSpan Sign electronic signature service. The updates aim to streamline non-signing aspects of the agreement process, which can delay financial institutions. While electronic signatures have become standard in digital business, issues arise from document preparation, identity verification, and handling exceptions.

Ashish Jain, OneSpan's Chief Technology Officer, emphasizes that an agreement's worth lies in the business outcome enabled, such as a new account or loan for a customer. With this update, OneSpan applies intelligence to eliminate unnecessary steps. The redesigned preparation dashboard helps staff lay out fields using AI-generated field placement.

Reviewers can access an AI summary of the agreement and receive AI-generated answers to their questions. Automated checks are in place to catch document problems early, with tamper-proof attachments. Advanced biometric identity verification and digital credential support are also part of the package. Planned support for the Model Context Protocol will enable authorized AI agents to interact directly with agreement workflows and data.

The company is also expanding integration options and developing agentic workflows to reduce post-signature handoffs. OneSpan's products are divided into cybersecurity and digital agreements portfolios, with financial institutions being long-time customers. Over 60% of the world's 100 largest banks use OneSpan's technology, processing more than 100 million transactions annually.

The update encompasses new and planned features, with release dates yet to be announced. OneSpan will showcase the updates in a webinar on October 14. The company's mission is to keep content open and free, and they invite engagement with theCUBE community.