Jersey City, NJ (PRWEB) October 24, 2011
xyzmo, a world-leading e-signature provider, is pleased to announce that its signature verification solution won the 2011 IDCAR competition for online skilled forgeries.
The challenge for e-signature solutions, particularly in customer-facing environments, is to replace pen-and-ink signing with something that provides the same sense of gravity and security as traditional wet signatures. Capturing handwritten signatures is the natural replacement, which everyone understands immediately, and it allows signers to feel comfortable with the process and provides a sense that digital signing is a serious event.
Signature Verification takes this approach one step further, and is the modern equivalent of traditional signature cards used in banks, for example, for subsequent identification of the customer by comparing the customer’s signature with the signature on the card.
Signature Verification authenticates the identity of individuals by measuring their captured handwritten signatures. The signature is treated as a series of movements that contain unique data, such as personal rhythm, acceleration and pressure. The basic idea behind Signature Verification is the transformation of natural hand fluctuations into a mathematical structure called a ‘personal profile’. This transformation is one-way only; hence, the hand (pen) movements can be transformed into a personal profile but the reverse operation is virtually impossible. Documents and transactions are only processed if their signers are authenticated and companies can thus prove who signed which document and when.
What results can be expected from online signature verification?
The systems participating in the IDCAR conference were evaluated by forensic experts using different testing sets. The task was to determine whether a particular signature had been written by the author of the reference signatures or if it had been forged by another writer.
IDCAR evaluated the systems according to several measurements. They generated ROC-curves to see at which point an equal error rate was reached: i.e. the point where the false acceptance rate (forged signature being accepted as genuine) equals the false rejection rate (genuine signature being rejected). At this specific point they also measured the accuracy, i.e. the percentage of correct decisions with respect to all queried signatures.
The winner was the xyzmo solution, with an accuracy of 96.27%, a false acceptance rate (FAR) of 3.70% and a false rejection rate (FRR) of 3.76%. In comparison, the second best system had false acceptance and false rejection rates above 7%!
The field of electronic signature verification and authentication on a large scale is in its infancy, with such high-quality standards as those achieved by xyzmo being newly introduced to the market. Nevertheless, there are early adopters such as Tatra Banka (Member of Raiffeisen Bank International) in Slovakia, which authenticates all its customers in real time based on their handwritten electronic biometric signatures. This will become an interesting technology for banking and many other vertical markets over the next few years, and xyzmo is clearly in the leading position and ahead of the competition with the best and most advanced solution available.