The use of digital signatures has expanded rapidly, encouraged by developments such as working from home amid the pandemic.

UK wealth manager, Quilter, has added four digital signature providers for UK financial advisors to use. It is an example, accelerated by the pandemic, of the financial industry continuing to move away from paper-based processes, .

As a result of its new additions, which were based on the most popular requests from financial advisors, Quilter now recognises 11 digital signature providers, it said in a statement.

After the firm established its digital signature capabilities in 2020, Quilter added Alphatrust, docSAFE, MyDocSafe and Rsign to its list of approved software providers. 

All the digital signature software suppliers will be recognised across Quilter’s platform and Quilter Cheviot.

The providers will give advisors proof of signing using a secure process; an audit trail along with a final document; and the ability to send, sign, track, and manage signature processes using a web browser or mobile device, Quilter said.

“We maintain constant contact with advisors to understand how we can best support them and their business both now and in the future, and we know they value flexibility of digital signature providers, which now play a vital role in their processes,” David Tiller, commercial and propositions director at Quilter, said.

The use of digital signatures has expanded rapidly, encouraged by developments such as working from home amid the pandemic. A report in June by Straits Research said that the global digital signature market size was valued at $4.4 billion in 2021. It is expected to grow by $42 billion by 2030 at a compound annual rate of 28 per cent during the forecast period (2022 to 2030).