Digital transformation in the multifinance industry is pushing the customer journey further into digital channels. Financing applications can start online, customer information can be processed digitally, and many interactions no longer depend entirely on face-to-face meetings.

However, an online application is only the first part of that journey.

When the process moves on to the transaction and document signing stage, companies need to build trust in two key things: the identity of the party making the transaction, and the signing activity carried out by that party.

This is where multifinance digital transformation needs to move from a simple digital application toward a trusted digital transaction.

A Digital Journey Needs Trust in Identity

In physical interactions, identity can be checked through documents and direct contact. When the customer journey moves to digital channels, companies need a mechanism that builds a similar level of trust in the user's identity.

Gartner positions identity verification as a technology organizations use to gain assurance that a person is genuinely the owner of the identity they claim. This capability is increasingly relevant across many customer use cases that require security, compliance, and trust.

This need is highly relevant in financial services, including multifinance. In this sector, identity verification is important not only at the early stage of the customer journey. A verified identity also becomes the foundation when the customer continues to activities that require approval and document signing.

Certified Identity Verification as the Foundation of Digital Transactions

In a digital transaction, a name or data entered by a customer does not, by itself, build the level of trust needed in the user's identity.

Certified Identity Verification helps ensure that the identity used in a digital process has gone through verification and validation.

This matters because identity does not remain just customer information. It later relates to the many activities the customer performs in the digital journey.

When the customer reaches the signing stage, the company needs a clear link between the verified identity and the party who performs the signing.

This link is what separates transaction signing based on a verified identity from a process that only places a signature image on a digital document.

From Verified Identity to Certified Transaction Signing

Once the user's identity has been verified, the digital journey moves on to transaction activity.

In a multifinance context, one such activity is signing documents electronically.

Certified Digital Signature allows signing activity to be linked to a user identity that has gone through verification and validation. A Certified Electronic Signature (Tanda Tangan Elektronik Tersertifikasi) uses an Electronic Certificate that links the identity of the owner with the data used in the electronic signature process.

With this approach, signing does not merely produce a digital document that carries a signature.

Transaction signing has identity context behind it. The flow becomes simpler and more connected:

For multifinance companies, this approach helps extend the digital journey from simply offering online application access to digital transactions built on trust in the identity of the parties involved.

Read also: Already Digital, So Why Is the Approval Process Still Manual?

Identity Verification Is Becoming More Important in Digital Transactions

Technology developments also bring new challenges in confirming user identity in digital channels.

Gartner notes that financial institutions face the growth of fraud involving technologies such as deepfake, voice cloning, synthetic identity, and the use of AI across various scam methods.

These developments make identity verification increasingly important for building digital trust.

The focus is not simply adding more checks to the customer journey, but making sure that important digital activities are linked to a verified identity.

In transaction signing, this principle becomes even more relevant. The more important the document or transaction being signed, the more important it is to be able to link the signing activity to the identity of the party performing it.

From Digital Application to Trusted Digital Transaction

A digital application and transaction signing should not be seen as two separate journeys. An online application opens access to services digitally, identity verification builds trust in the party behind it, and certified transaction signing carries that identity into the document signing stage.

With this flow, digitalization is assessed not only by the channel the customer uses, but also by the level of trust built throughout the transaction journey.

This is where digital experience and digital trust need to grow together. Customers need practical processes, while companies need assurance about the identity of the party making the transaction. Certified Identity Verification builds trust in the user's identity, and Certified Digital Signature carries that identity into the signing activity.

This is how the digital journey moves forward:

Multifinance digital transformation is only complete when the transactions a customer makes can be linked to a verified identity.

Key Takeaways

Multifinance digital transformation is not enough if it only brings the application process to online channels. When a customer continues the journey through to document signing, companies also need to ensure that the transaction is performed by a verified identity and that the signing activity can be linked to the right party.

As an implementation partner, Indocyber helps multifinance companies integrate identity verification and Certified Electronic Signature (Tanda Tangan Elektronik Tersertifikasi) from a registered electronic certificate provider into their digital journey.

Want to see how identity verification and certified digital signatures can be applied in your multifinance processes? Discuss it with the Indocyber team.

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