Customers of an online bank would naturally expect to be able to conduct their business online, wouldn’t they?
Of course they would, and Avanza’s customers had no reason to expect otherwise—with one glaring exception.
“We had a problem,” explains Mikael Lindahl, Business Developer for Avanza Bank. “When a new customer signed up on our web site, we had to send them a paper document, and they had to sign it and send it back to us.”
In terms of customer experience, this was an unfortunate way to begin the relationship, to say the very least. Not to mention the unnecessary administrative burden it placed on Avanza.
“It could take days, or weeks, even months,” says Lindahl. “We wanted to shorten that. And we wanted to do it by signing the document online.”
But Avanza’s legal team would only accept e-signing on the condition that the solution met two crucial security requirements:
• e-identification to authenticate the signing party
• PKI-based data integrity technology to protect the signed document