Banque Internationale à Luxembourg (BIL) is adopting an electronic signature system for all branch cash transactions, with the aim of boosting efficiency and improving client service. The move is part of BIL’s digital transformation.
The bank has been gradually rolling the system, created by Fujitsu, out across its branch network since February this year, it means the bank will no longer issue paper receipts for cash deposits and withdrawals for which clients will now sign an electronic document on a tablet. The receipt is instead transmitted to the client’s BILnet files and stored on the bank’s servers, from where clients can view, save and print as they choose.
“This solution meets the five criteria that financial institutions must fulfil when creating and managing documents, namely that the signature is authentic, forgery-proof, non-reusable, tamper-proof and irrevocable”, said Cédric Jadoul, Head of Digital Strategy, Fujitsu Luxembourg, adding “Sign’IT captures the image of the signature to integrate it in a PDF and can accurately authenticate it and prevent any attempted fraud.”
The bank hopes that digitalisation will result in a drastic reduction in paper consumption, and already sees annual savings of around half a million paper documents.
Image: Cédric Jadoul (far right). © Marie de Decker
