A regulatory-compliant centralised digital signature process

The banking industry is currently experiencing the perfect example of a digital storm – a tempest that will have a major impact on client interaction. Transactions are moving from face-to-face interactions between agents and clients to user-friendly, entirely digital platforms. This enables banks to launch new banking services (eg, with mobile P2P transactions) and digitalise traditional banking transactions. Services such as opening an account or taking out a mortgage have not yet been part of the digital revolution. Electronic signatures enable financial service providers to offer quick, user-friendly processes at a fraction of the cost. For this large Spanish bank, GFT defined and implemented a fully compliant centralised signature process for new channels in mobile and online banking.

Compliance with new regulations for contract signatures in Spain

  • Create a new centralised signature architecture that meets treasury department and legal compliance requirements
  • Revise organisational processes and define new processes for contract and document signatures
  • Strike a healthy balance between existing systems/procedures and new ones

Definition and implementation of a centralised signature process

  • Combination of deep banking knowledge and state-of-the-art technology
  • Definition of the new system architecture and procedures
  • Three-step approach for a project lasting one year:
    • Concept planning of centralised signatures
    • Definition of requirements, analysis and design
    • Implementation of first use case
  • Reliable, on-schedule delivery offering the required quality

Fully compliant centralised signature, also supporting remote channels

  • Definition of the new architecture spanning three layers:
    • Access channels (online banking, branches, mobile…)
    • Orchestration layer (signature flow definitions and rules engine)
    • Service layer (DMS, trusted third party, Tibco SOA…)
  • Introduction of a trusted third party into the signature process
  • Ability to accommodate new channels for signatures in mobile and online banking

Further details on this success story

Major Global bank takes advantage of Smart Transaction Management

Smart Transaction Management (STM) is the next logical step in the digital transformation process after Personal Financial Management (PFM) tools as (...)

Major Global bank takes advantage of Smart Transaction Management

Smart Transaction Management (STM) is the next logical step in the digital transformation process after Personal Financial Management (PFM) tools as (...)

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