finance

Glasgow firm creates AI tool for remote document signatures



Glasgow-based software developer Videosign has created a facial recognition tool for remote witnessing of contracts and legal documents.

Launched in 2019, following the introduction of new rules allowing for remote signing and witnessing of contracts, the company established a development lab in Glasgow and has spent the last year working on the product.

UK law now allows digital signatures for all contracts except for deeds and wills. Deeds can now be signed online, providing they are witnessed.

Wills still require a ‘pen and ink’ signature, but the law allows for the witnessing to take place electronically.

Videosign achieves this by stitching videos of the signatory and witness together to form a single piece of evidence.

The online meeting platform has a facility to record video and other evidence, like IP addresses and timestamps, to remotely witness signatures.

Its Verify tool uses artificial intelligence-based facial profiling techniques to compare an individual with a legal document to confirm their identity.

The system then allows a user to upload documents for tamper-proof electronic signatures – witnessed by everyone in the meeting and backed up with the video and metadata evidence.

Steven Tallan, chief executive at Videosign, said: “We are very excited about this feature as it replaces the very costly and time-consuming process of having people confirm their identities by turning up in person or sending documents through the post.

“Plus carrying out these checks electronically is much less prone to fraud and document loss or damage.”

Videosign’s technical operations manager Mark McGrath added: “We don’t believe this is a Covid product – we think this is a future product.

“I was talking to one company who said it was taking three weeks to process documents that had to be printed, posted, signed and returned – with Videosign you can do it in an hour.”

Two members of the development team learned their trade through CodeClan, the Edinburgh-based digital skills academy established to support Scotland’s digital economy.

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