The signature card shows the bank how you write your name, so each check that is signed should be signed in the same way as on the signature card (N. Lobb, s.8).This card is a secured device that has a secret key embedded in it. This card, on request, signs any document. However, it never reveals the secret key (S. P. Vadhan, s.57). When the depositor first opens a bank account, he is required to sign a handwritten signature on the card. This card is stored in the bank. Then, if there is any suspicion that the signature has been falsified, for example, on a check, bank employees compare the signature on the check with the original on the signature card (D. B. Proctor, A. P. Adams, s.440)
Signature cards in a business situation
In the case of a business situation such as a doctor's office, the doctor often gives responsibility for paying various types of bills to a medical assistant or other his office staff. Then, every employee who has the responsibility to sign medical facility checks must go to the bank, where he is required to add a handwritten signature to the signature card. Authorized to sign checks are only those whose names appear on the signature card. If the bank has any doubts about the signatures, it is authorized to verify them (D. B. Proctor, A. P. Adams, s.440).
Digital signature card in a digital signature system
Digital signature cards are one of the basic elements of a digital signature system. They are very important because they carry out all security-related processes. Therefore, we can see the difference between issuing cards and the process of signing and verifying signatures (W.Rankl, W.Effing pkt.23.1.3).
Signature card issuing
To issue a signature card a future user must first register with the registration office. He must appear in person and present an acceptable identity card (personal ID card). He can also choose a pseudonym instead of the real name. The registration authority
- forwards the information it has received
- verified the information it has received
to the trust center. the trust center initiates key generation and personalization of the signature card. In that place the key and signature personalization are generated. These activities can also be carried out directly with the registration authority. Then it is signed by the trust center certification service and becomes a recognizable and authentic public key. This key is available to every system user. After all these activities, the new user receives a digital signature card and a letter with a PIN number. Then he can finally use it (W.Rankl, W.Effing pkt.23.1.4).
Examples of Signature card
- A signature card is a document that is used to validate an individual’s signature when they open a bank account. This card contains the individual’s name, address and signature. Banks require customers to sign a signature card so they have a record of their signature on file in case they need to compare it to the signature on a check or other document that is being presented for payment.
- Businesses can also use signature cards as a way to authorize certain individuals to sign checks and other documents on behalf of the company. This helps to ensure that only authorized individuals are able to access the company’s funds.
- In some cases, a signature card may also be used to authorize an individual to make deposits or withdrawals from a bank account. This helps to ensure that the correct person is making the transactions and that the funds are not being misused.
Advantages of Signature card
A signature card is a secure device that is used to verify the identity of a customer. It has numerous advantages, including:
- Increased security: The signature card helps to ensure that only authorized individuals can access an account. By comparing the signature on the card to the one on a check or other document, banks can ensure that the signature is genuine and that the customer is who they say they are.
- Faster verification process: Signature cards allow banks to quickly and easily verify a customer’s identity, making the onboarding process simpler and faster.
- Reduced fraud: By verifying the identity of a customer, banks are able to reduce the amount of fraud and identity theft that can occur.
- Cost savings: By reducing the time and resources required to verify a customer’s identity, signature cards can help banks save money.
Limitations of Signature card
The signature card has certain limitations:
- Firstly, it is vulnerable to tampering and alteration, as it is a physical document. It can be forged or changed without the knowledge of the bank or the customer.
- It is not secure enough to withstand sophisticated fraud. It can be easily duplicated and used to commit fraud.
- It is difficult to verify the identity of the signer as the signature on the card is not necessarily the same as the one on the check or the document being signed.
- There is also the possibility of misplacing or losing the card, which can lead to fraudulent transactions.
- It is not a foolproof method of authentication, as it can be easily faked or forged.
- Finally, the signature card is not a reliable method for verifying a customer’s identity, as it does not contain any biometric or other identifying information.
A signature card is an important document that is used by banks to verify the authenticity of a customer’s signature. However, there are many other approaches that banks use to authenticate customers’ signatures. These include:
- Fingerprint verification – This involves scanning the customer’s fingerprint and verifying it against the bank’s records.
- Signature verification software – This uses algorithms to compare a customer’s signature on a document with the bank’s records.
- Voice authentication – This involves the customer speaking a predetermined word or phrase, which is then digitally compared to the bank’s records.
- Automated signature recognition – This involves the use of optical scanners that can detect and compare signatures on documents.
In summary, banks use a variety of methods to authenticate customers’ signatures, including fingerprint verification, signature verification software, voice authentication, and automated signature recognition.
- Lobb N. (2000).,41 Activities in Basic Money Management, Walch Publishing, Portland
- Proctor D. B., Adams A. P. (2013)., Kinn's The Medical Assistant - E-Book: An Applied Learning Approach, Elsevier Health Sciences, Saint Louis
- Rankl W., Effing W. (2010)., Smart Card Handbook, John Wiley & Sons, United Kingdom
- Vadhan S. P. (2007)., Theory of Cryptography: 4th Theory of Cryptography Conference, TCC 2007, Amsterdam, The Netherlands, February 21-24, 2007, Proceedings, Springer Science & Business Media, Berlin
Author: Anna Jędrzejczyk