The goal of the project was to design and implement technology for digital signing of loan documents (E-signing) and integrate this component into the completion of an entire “dematerialization agenda”, i.e. the elimination of paper documents from the sales process (the “paperless” concept).
The solution included initial research of the possibilities and technical feasibility of implementing a “visual electronic biometric signing” option. After evaluating the available options, producing a “proof of concept” of prototypes, and considering legislative aspects, solutions based on Signotec technology were chosen and executed with the client.
The solution itself is composed of multiple integrated components, namely: - A special front-end application for displaying signed documents, capturing biometric signatures using a “Signature Pad”, and verifiably connecting it to the signed document at the point of sale * Server component providing the signed documents and operating as a “mail room” for the receipt of digitally signed documents and managing their transfer to other internal systems (particularly the DMS) * Updates and integrations to the partner sales system (B2B Extranet) where the negotiating of contracts takes place and which is covered by the entire process beginning with consent to the processing of personal data and ending with the actual signing of a draft of the contract * Expansion and modernization of the system of print services that provide the contractual PDF documents, now prepared for affixing digital signatures
The entire solution was thoroughly analyzed and proposed with a mind toward security, legislative barriers, and the validity of the documents created in the event of certification or court disputes. Maximum use was made of the capabilities of the PDF format (certificates, version layering, and signatures) and cryptography (including placement of the necessary certificates directly in signing devices).
The user interface and behavior were custom designed for the client's points of sale. The idea is that it uses two monitors, where the seller fully checks the process and parameters of the agreement and the customers check the content of the signed document and the rendering of their signatures on their own monitor.
We implemented the solution at several of the client's key points of sale. The “paperless” process was practiced as a priority method of executing a contract at the given sales locations, with the outcome that they were able to process more requests in the same amount of time and finance the customer loan itself significantly faster.
“At our pilot sales locations more than 90% of the requests of the first days were completed in digital form only.” During the first few days, several hundred digitally signed contracts were processed without any technical problems.
According to the staff at contact locations, digital contracts are executed in significantly less time compared to the classic “paper” process.
The reception was positive among customers of all age categories. We plan to distribute the solution to our partner network as well. (...) At our pilot sales locations more than 90% of the requests of the first days were completed in digital form only.