Signicat chosen to provide digital signing technology to Nordic retail bank customers
Nordic financial institution Resurs Bank has chosen mobile signing technology from Signicat for credit agreements to enable its retail finance customers to avoid physical paperwork. Resurs Bank customers can use an approved electronic ID, such as BankID, in combination with Signicat Sign to sign an agreement, and accept terms and conditions through a mobile device, according to the announcement.
The partnership is intended to allow in-store purchases of high-value items that require credit agreements to be carried out as quickly, securely, and conveniently as an online transaction. The companies say that 76 percent of customers in a successful pilot in Sweden chose to sign credit agreements using Mobile BankID.
“This technology means that traditional stores can better compete with their online rivals—while they offer superior customer service, they need to combine this with the convenience of online shopping,” said Marcus Lennerhov, Product Manager at Resurs Bank. “Thanks to Signicat, the majority of our retail credit agreements are now signed digitally using a mobile device giving customers the security and ease they are used to online.”
The service is now available to Resurs Bank’s retail customers in Norway, Denmark, Sweden, and Finland.
“In ditching paper, electronic signatures offer a frictionless and instant customer experience, and gives retailers a trusted and scalable way to deal with growing demand while improving conversion,” said Gunner Nordseth, CEO, Signicat. “Working with Resurs Bank to provide digital signing to over 35,000 stores is another milestone for digital identity in the Nordics, a model for the rest of the world to emulate.”
Signicat joined the European Telecommunication Standards Institute (ESTI) in September to assist with the creation of standards for digital signatures and trust services.