Private banking in transition - Bank Gutmann relies on digital signature

Klotzberg: "In private banking and generally when opening business relationships, many documents and contracts have to be signed and updated. It's ideal if you don't need a personal appointment on site for all these signatures. That's why it was important for us to find a way for both our customers and employees to sign legally in a secure environment. Of course, digital signatures were already an issue for us before Corona, probably more in the institutional than in the private customer sector. However, with Corona, we were increasingly looking for a solution."

Klotzberg: "On the one hand, for documents and reports that have to be processed and signed internally. On the other hand, for orders that we process jointly with business partners. It is also essential that both our customers and we - as a bank - can sign and exchange documents.

Klotzberg: "We currently use only the highest standard of qualified electronic signature (QES) because of our banking business and the security factor. However, if we take a look into the future, we are considering whether an advanced signature might not be sufficient in part internally."

Klotzberg: "The time factor is an important point. In the past, we only had signature folders that were physically moved around the company and signed at various internal locations. Now we are also increasingly using a digital "folder" in which it is defined from which location it requires a signature before it is sent. The documents in this folder can be signed much more quickly."

Klotzberg:

"The most important thing was that my colleagues could sign digitally quickly. Another essential point for us and our customers is the eID & QES hub for digital identities from different European countries. We have offices in Budapest and Prague, so we need a platform that also integrates Eastern European certificate providers into the signature process. Thanks to sproof sign, our international customers do not need to apply for another qualified signature, they can continue to use the already existing qualified signature from their country. This makes for a much more pleasant customer experience and ensures the correct process of signing across country borders - without any further effort."

Klotzberg: "At the beginning, we looked at the sproof website and got a test account. This allowed us to try out the functions and run through our various use cases. In the next step, our IT security officer checked for data protection as well as security and up-to-dateness of the systems. Then we talked to sproof sign itself and finally decided to go for it. After the final contract negotiations, which are quite complex in private banking, we clarified and finalized all requirements."

Klotzberg: "It is very important to us that we cover all regulatory and security requirements. This also includes knowing exactly what happens to both our data and the data of our customers. How they are stored, where and for how long, as well as who else is involved in this process. That's why we chose a European company."

Klotzberg: "Digitization will continue to accompany us in various forms, because it is not a big trend for a few years and then suddenly gone again. It may not be the exclusive way to communicate with our customers, but it is also there to support us and our customers. Digitalization is here to stay. I believe there will be many other developments in the future that we can't even imagine now that can simplify our lives."