Launch year: 2016
Country: UK
Categories:
Funds raised: 1.6 M£ (May 2016)

Cygnetise digitizes the signatory management process

Concept description

Cygnetise is digitizing management of authorized signatory list (list of authorized persons who have an authority to do something on behalf of the company) by using Blockchain. Cygnetise’s solution provides a decentralized platform on which customers can add signatories, grant, and revoke permissions instantly.

The process is based on an order trial, each change is recorded with a time stamp of what was changed and who changed it. Smart contracts are than used to automate the sending of email to the customers every time there is a data change.

Value proposition

Cygnetise reduces the workload related to signature/authorization management thanks to its solution that makes all the process digital and easy to modify. Due to the automation it limits human errors (authorization always active after a departure, etc.), which therefore increases security. Finally, it allows for a detailed and complete tracking of all changes (audit, etc.), which makes the solution very transparent and allows users to be up to date at all time.

Illustration (Video)

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