ensure safety and efficiency in signing electronic contracts

In the context of strong digital transformation, signing electronic contracts has become an inevitable trend for many organizations and businesses. To ensure the legality and safety of these transactions, the Center for Information Technology and Digital Technology is researching the eKYC (Electronic Know Your Customer) solution to take advantage of the features and benefits of the solution in the process of signing electronic contracts between the parties.

The eKYC process involves several steps to ensure the accuracy and security of the verification process. First, the user provides the necessary personal information, including full name, ID card/CCCD number, passport or driver's license. This information is entered into the system to initiate the verification process. Next, the eKYC system will ask the user to take a photo of their ID. These documents will be checked for validity and compared with the database to confirm authenticity.

The user will take a photo of their face directly through the camera. The system uses facial recognition technology to compare this photo with the photo on the identity document, ensuring that the user is indeed the owner of the document. Personal information and facial recognition results are cross-checked with the databases of the authorities (such as the national population database) to ensure the accuracy and validity of the information.

The eKYC solution has many outstanding features such as enhancing security and safety, saving time and costs, improving user experience, and ensuring legality. The eKYC solution uses multiple verification factors (multi-factor) to ensure that only authorized persons can sign electronic contracts. This helps prevent fraudulent activities and protect the rights of participating parties. The online identity verification process reduces time and costs compared to traditional methods. Users can complete the verification process anywhere, anytime with just a device with an internet connection.

The user-friendly interface and simple process make it easy for users to go through the identity verification steps. This not only enhances the user experience but also promotes the adoption of e-contracts in the community. The eKYC solution ensures that the signed e-contracts have the same legal value as traditional contracts. Strict identity verification helps protect the legal rights of the parties involved.

The eKYC solution brings many benefits to businesses, users and management agencies. For businesses, eKYC helps minimize risks related to fraud and legal disputes thanks to a strict identity verification process. In addition, the application of electronic contracts helps optimize business processes, save costs and time, and increase professionalism and efficiency. For users, eKYC helps them conduct electronic transactions quickly and safely without having to go directly to agencies or offices. This not only saves time and effort but also creates convenience and flexibility in daily transactions. For management agencies, eKYC helps enhance the ability to monitor and control electronic transactions through the eKYC database. This helps improve management efficiency, ensure security and order in the field of e-commerce.

One of the biggest challenges of eKYC is protecting users' personal data. To address this issue, eKYC solutions need to comply with information security regulations and apply technical measures such as data encryption, two-factor authentication, and cybersecurity monitoring. Implementing eKYC requires close cooperation between authorities and businesses to ensure consistency and effectiveness of the identity verification process. Regulatory agencies need to develop a clear legal framework and support businesses in implementing eKYC solutions. For eKYC to be widely accepted, it is necessary to raise public awareness of the benefits and safety of this solution. Propaganda and training programs can help users better understand the eKYC process and trust in using electronic contracts.

The eKYC solution plays a key role in ensuring the safety and efficiency of electronic transactions. With outstanding features and practical benefits, eKYC not only helps businesses and users save time and costs but also improves the reliability and legality of electronic contracts. However, for the eKYC solution to be most effective, there needs to be close coordination between relevant parties and the application of strict information security measures. In the future, eKYC will continue to be an important factor promoting the development of the digital economy and digital society in Vietnam.

Source: https://moit.gov.vn/tin-tuc/bao-chi-voi-nguoi-dan/giai-phap-xac-minh-danh-tinh-dien-tu-dam-bao-an-toan-va-hieu-qua-trong-ky-ket-hop-dong-dien-tu.html