Digital Signature in the Branch of the Future

We are all familiar with digital signature in the retail environment, even in insurance. A number of leading banks have begun to adopt the process, but in financial services the technology of digital signature is still in its infancy.

Whether we are opening a bank or brokerage account or applying for a loan there is usually a lot of paper involved. But paper takes time to process, must be stored and can easily be lost. Plus we need a more reliable way to ensure documents have been signed and stored as securely as possible.

Is it time for a fresh approach?

Many businesses around the world are saving money by replacing paper processes with electronic signature and document solutions. In the U.S. the ESIGN Act gives electronic signatures the same legal significance as paper signatures, provided the customer consents to the process.

Various forms of eSignature exist from a simple click to sign to robust biometric signatures written on electronic signature pads that record the precise shape and sequence of the signature, its strokes and direction of loops, and detailed timing of each part of the signature used in the signing process. Another form of electronic signature that does not incorporate biometrics - the digital signature - uses asymmetric cryptography to ensure documents can be protected once they are signed and any changes related back to the original signer.

The technology of eSignature and digital signatures is now available across multiple devices and can be deployed locally or at an enterprise level. Mainly deployed in the public sector and in the retail, healthcare and insurance industries, this technology has already been adopted by a number of leading banks to improve the speed and security of banking document processes.  Such efficiencies are leading the charge in enabling bank branches to become paperless. 

AssureSign (www.assuresign.com) and Topaz Systems (www.topazsystems.com) are leaders in the field of electronic signature and document management.  Topaz Systems offers a broad array of electronic signature pads for use in teller and non-teller related transactions, along with bundled software, authentication and server tools, and plug-ins.  Topaz solutions provide the capability for corporations to deploy their technology across any web based service and on any device, whether tailor made or generic.

Topaz signature pads are available in color and monochrome versions, wireless versions for use in drive-up teller environments, and pads which capture simultaneous electronic and paper signatures up to full legal clipboard size.  

(See Exhibits 1 and 2).

Exhibit One- Topaz eSignature software technology can be deployed across the web and directly with their biometric electronic signature pads.

Exhibit Two- A Biometric Signature using AssureSign