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Industry Leaders Align On Digital Transaction Management Standard

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DocuSign, in partnership with industry, security, and policy thought leaders announced a new global standard for secure cloud-based Digital Transaction Management, xDTM. The xDTM Standard protects and empowers organizations and consumers to securely conduct business around the world. Key requirements include security, privacy, compliance, enforceability, availability, openness, scalability, and universality.

A Board of Governors has been created to manage the xDTM Standard. Board members include:

• Arden Bement, fmr. director of National Institute of Standards & Technology, and National Science Foundation
• Rob Carter, EVP of FedEx Information Services and CIO, FedEx
• Erik Avakian, CISO, Commonwealth of Pennsylvania
• Brett Wahlin, CISO, Hewlett-Packard
• Dr. Christopher Longhurst, CMIO, Stanford School of Medicine
• Leah Anderson, Head of IT Strategy, Demand, and Delivery Services, Blue Cross and Blue Shield of Minnesota
• Kevin Mandia, founder of Mandiant, a FireEye company
• Dr. Gerry McCartney, CIO, Purdue University
• Tom Pageler, CISO, DocuSign

“Standards help drive consistent, predictable, and trustworthy interactions between parties, be it business-to-business, business-to-consumer, or consumer-to-consumer,” says Arden Bement, former director of both the National Institute of Standards and Technology and the National Science Foundation. “DocuSign’s leadership of the xDTM Standard will help define the methods, procedures, and requirements for safe and secure digital transactions as more and more companies and individuals make the transition to fully digital interactions in the cloud.”

“Cyber security has never been more important than in today’s digital age,” says Kevin Mandia, founder of Mandiant, a FireEye company. “DocuSign is leading the way to drive a secure, standards-based approach to digital transactions in the cloud that will help protect consumers and businesses alike.”

Digital Transaction Management has emerged as a new category of cloud services to digitally manage document-based transactions. DTM removes friction inherent in transactions that involve people, documents, and data to create faster, easier, more convenient and secure processes. DocuSign’s DTM platform helps consumers and businesses complete transactions faster by eliminating the hassles, costs, and lack of security in printing, faxing, scanning, and overnighting documents to capture information, payments, and signatures. Companies DocuSign to create better customer experiences, ensure security and compliance, and achieve substantial ROI.

Built on the cornerstones of being “trusted” and “connected”, the xDTM Standard outlines the key requirements for companies and platforms to facilitate business in a trusted online environment that protects consumers and businesses:

Security – Secure xDTM transactions have best-in-class technical protection afforded by encryption, highly secure access with privileges approved by multiple parties, and proactive protection policies.
Privacy – Private xDTM transactions allow a person or company to reveal information selectively, at their discretion. Personal data is not sold.
Compliance – Compliant xDTM transactions conform to industry policies, standards, and laws such as ISO 27001, SSAE 16, PCI DSS, HIPAA controls, and the like. Recurring third party auditing is engaged to verify compliance.
Enforceability – An enforceable xDTM transaction is non-reputable, reliable, and transparent with an audit trail.
Availability – xDTM transactions are always accessible and obtainable. Business critical systems must be available with a minimum of 99.99 percent transaction uptime with no scheduled service downtime.
Openness – Open xDTM transactions are supported by collaborative services environments and leverage open API’s and open gateways.
Scalability – Scalable xDTM transactions are facilitated by a system that accepts increased volume without impacting performance.
Universal – Universal xDTM transactions work seamlessly across heterogeneous computing environments, devices, languages, and industries.

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