Processes in commercial offices and branches are being reinvented; even more so taking into account changes produced derived from Sars-CoV-2 pandemic situation.
Automation and digitization of the usual processes and procedures in bank branches, both those related to internal activities and customer issues, is a need that some banks and financial institutions are already addressing. Signing and contracting are two of the most common as well as substantial processes of all those that occur in commercial offices and branches.
Contracting at branches
Recruitment processes at bank offices can be tedious and present a number of complexities that commercial office workers know well.
The first requirement for a contract or the acceptance of the content of a document delivered to the client is the verification of their identity. While the KYC (Know Your Customer) process must have been carried out previously in the actual clients, in many occasions its realisation is required for the signing of a document.
Check in this article how the eKYC (electronic Know Your Customer) process works
Thanks to this process, the identity of the client is duly verified, validated and registered in such a way that it can be recognized to carry out any type of activity in the commercial office without the need to carry out an additional identity verification process for each issue.
Fraud prevention and risk management is a key aspect to take into account in the banking and financial sector. This is especially delicate in processes such as contracting, being necessary to comply with the relevant AML (Anti-Money Laundering) controls and the appropriate regulatory standards in terms of signature.
Download here for free our whitepaper on eIDAS and AML5, the regulations that intervene in digital signature and contracting processes.
Digitization and automation of the signature process not only reduces costs and process times to a minimum but eliminates bureaucracy and risk of fraud while offering a fast, agile process without the need to use pen and paper to sign a document with the maximum guarantees. Loss of documentation, signature forgery or the need to wait for validations are completely discharged.
How the digital contracting process works
For a client to be able to make an electronic signature in a branch or store, they must follow the same steps as in the standardized electronic signature process. This process may be or not be assisted by an agent of the commercial location, and carried out on devices from tablets or computers to ATMs.
The process proceeds as follows:
- The document to be signed is shown to the user at an ATM, digital terminal, PC or tablet.
- The user reads the document for as long as he wishes, being able to navigate through it and check it exhaustively.
- The user clicks the “sign” button, accepting its content.
- The user receives an OTP (One Time Password) by SMS on his mobile phone and enters it. Alternative methods may also be proposed as two-factor authentication, for example, biometric face registration. Thanks to CertID, the user could also sign the document with their electronic NID with NFC chip, since SignatureID and SmileID are compatible with the official electronic certificates of various states and countries.
- The document has been electronically signed with an electronic certificate of natural person and a qualified timestamp.
The process is simple, agile, and is developed within a quality user experience. It is adaptable and flexible to any type of need that the branch requires.
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