[Webinar Slides] E-Signatures 101 in Europe
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In this information-packed presentation, we will provide an overview of the basic terminology, concepts, and laws related to electronic signatures and answer the most frequently asked questions on the topic. Want to follow along with the webinar replay? Download it here for free: http://info.aiim.org/esignatures-101-in-europe
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[Webinar Slides] E-Signatures 101 in Europe
- 4. Underwri(en by: Presented by: Agenda § What is the difference between an electronic signature and a digital signature? § How can you prove who e-signed? § What legal and compliance requirements do we need to consider? § What do signers need in order to e-sign? § What ROI metrics have others reported? § How do we get started? What’s the effort?
- 5. Underwri(en by: Presented by: Electronic Signatures What – Exactly – Are Digital Signatures? 1. Electronic Signatures § E-signatures and variaRons 2. DigiRzed Signatures § Digital representaRon of handwri(en signature (e.g. CC signature on tablet) 3. Digital Signatures § Advanced Electronic Signatures, Open Digital Signatures, Open Signatures, X.509 Signatures § Open, interoperable standard that confirms document integrity, signer idenRty, and intent 4. Document EncrypRon Digital Signatures
- 6. Underwri(en by: Presented by: Electronic Signatures What – Exactly – Are Digital Signatures? 1. Electronic Signatures § E-signatures and variaRons 2. DigiRzed Signatures § Digital representaRon of handwri(en signature (e.g. CC signature on tablet) 3. Digital Signatures § Advanced Electronic Signatures, Open Digital Signatures, Open Signatures, X.509 Signatures § Open, interoperable standard that confirms document integrity, signer idenRty, and intent 4. Document EncrypRon Digital Signatures
- 8. Underwri(en by: Presented by: Electronic Signatures What – Exactly – Are Digital Signatures? 1. Electronic Signatures § E-signatures and variaRons 2. DigiRzed Signatures § Digital representaRon of handwri(en signature (e.g. CC signature on tablet) 3. Digital Signatures § Advanced Electronic Signatures, Open Digital Signatures, Open Signatures, X.509 Signatures § Open, interoperable standard that confirms document integrity, signer idenRty, and intent 4. Document EncrypRon Digital Signatures
- 9. Underwri(en by: Presented by: Digital Signature Requirements 1. Open, standards-based technology 2. Integrated with standard directory systems (AD, others) 3. ProducRzed integraRon with: § Desktop applicaRons § ECM systems § Workflow and BPM tools § Devices § Other applicaRons 4. Can address both document-centric and data-centric signature applicaRons Digital Signatures Electronic Signatures SP WF SP +3P WF e.g. K2, Nintex Workflow BPM
- 10. Underwri(en by: Presented by: Legend Loan Applica(on Processing Scenario (Current State) Incoming ApplicaRon Form and SupporRng DocumentaRon (Fax) Incoming ApplicaRon Form and SupporRng DocumentaRon (Fax) Incoming ApplicaRon Form and SupporRng DocumentaRon (Fax) Incoming ApplicaRon Form and SupporRng DocumentaRon (Fax) Incoming ApplicaRon Form and SupporRng DocumentaRon (E-mail) Incoming ApplicaRon Form and SupporRng DocumentaRon (Mail) Quality Check Document(s) for legibility and sort into applicaRons Manual SorRng Determine Processing Technician Recipient Route to Technician Incoming ApplicaRon Form and SupporRng DocumentaRon (Fax) Incoming ApplicaRon Form and SupporRng DocumentaRon (Fax) Incoming ApplicaRon Form and SupporRng DocumentaRon (Fax) Determine ApplicaRon Type Review Account Determine Documents to Review Verify Documents are Complete Determine Underwriter Route to Underwriter Underwriter Review of ApplicaRon Authorized to Approve? Approved? Wet Signature Prepare and Deliver Documents ApplicaRons Manager Review ApplicaRons AdjudicaRon Enabling Technology ApplicaRons Processing Group Mail Room E-mail Fax Spreadsheet E-mail E-mail E-mail Fax E-mail Yes Yes No Manual Process Stop Unmanaged Electronic Process Stop (e.g. unmanaged e=mail, fax, etc.) Managed Electronic Process Stop
- 11. Underwri(en by: Presented by: Legend Loan Applica(on Processing Scenario (Current State) Incoming ApplicaRon Form and SupporRng DocumentaRon (Fax) Incoming ApplicaRon Form and SupporRng DocumentaRon (E-mail) Incoming ApplicaRon Form and SupporRng DocumentaRon (Mail) Quality Check Document(s) for legibility and sort into applicaRons Manual SorRng Determine Processing Technician Recipient Route to Technician Determine ApplicaRon Type Review Account Determine Documents to Review Verify Documents are Complete Determine Underwriter Route to Underwriter Underwriter Review of ApplicaRon Authorized to Approve? Approved? Wet Signature Prepare and Deliver Documents ApplicaRons Manager Review UnderwriRng Enabling Technology ApplicaRons Processing Group Mail Room Capture Imaging/ECM Workflow Imaging/ECM Workflow Imaging/ECM Workflow Imaging/ECM Workflow Imaging/ECM Workflow Yes Yes No Manual Process Stop Unmanaged Electronic Process Stop (e.g. unmanaged e=mail, fax, etc.) Managed Electronic Process Stop Incoming faxes and their key fields are quality reviewed, indexed via OCR or manual keying, and invoice images are automaRcally routed to the correct processing technician (based on index data). Paper documents are scanned, quality reviewed, key fields are indexed via OCR or manual keying, and images are automaRcally routed to the correct processing technician (based on index or load-balancing criteria). All applicaRons are stored in the repository, where they are accessible online to downstream users in the loan applicaRon processing flow. All incoming applicaRons received and processed centrally, which: • Reduces the Rme required to get incoming applicaRons into the process from days to hours. • Saves Rme for technician or underwriRng staff that formerly received applicaRons and had to spend Rme determining where to route them. • InsRtutes a common, controlled process • Saves on shipping and courier costs, and reduces lag Rme Workflow automaRcally determines appropriate UnderwriRng individual to receive applicaRon for approval, based on business rules or other criteria to balance workloads across available resources. Processing technicians can access applicaRon form and supporRng documents from the repository right from their desktops, saving Rme spent searching in paper file cabinets. Workflow automates the internal review-and-approval cycle, reducing the Rme to approve and enabling escalaRon if approval steps are not completed in pre-determined Rme windows. This ensures Rmely compleRon and minimizes the potenRal for late penalRes. Underwriters and managers can access supporRng customer documents from the repository, saving Rme over searching through paper file cabinets, email folders, and share drives for corroboraRng documentaRon. The ability to find documentaRon has the potenRal to reduce the number of applicaRons that have to be pended (and are thus more expensive to process). All documents, processes, and acRons by underwriters and managers are logged and stored in the repository – and are thus accessible for review, appeals or audits. This reduces the Rme and cost of discovery and facilitates compliance.
- 12. Underwri(en by: Presented by: Where E-signature Fits Banker meets client anywhere – Private Banking office or home Banker and client fill out e-forms together on laptop or tablet If ink signature is required or preferred by client, print and sign the forms E-sign the forms; submit electronically Front Office scans and submits collected documents (if paper) Front Office collects other documents from client Common capture process to perform verificaRon, XML data capture, recogniRon, data extracRon, addiRonal indexing, QA, etc. Documents released to system of record (FileNet) Once stored, documents are available for use in any downstream process; they should not be collected from the client again, and should not be printed and re-scanned. • Client logs into online banking from computer, laptop, or mobile device and verifies idenRty • Fills out e-forms; clicks to sign and submit • Client submits other electronic documents via portal upload Front Office uploads other collected documents (if digital) Once documents are verified, users can be noRfied and downstream business processes can be triggered E-forms can provide data validaEon, improve data quality, and simplify later recogniEon. XML generated with form and held in queue Front Office Capture Processing, Storage, and Access Client Portal
- 13. Underwri(en by: Presented by: Where E-signature Fits Banker meets client anywhere – Private Banking office or home Banker and client fill out e-forms together on laptop or tablet If ink signature is required or preferred by client, print and sign the forms E-sign the forms; submit electronically Front Office scans and submits collected documents (if paper) Front Office collects other documents from client Common capture process to perform verificaRon, XML data capture, recogniRon, data extracRon, addiRonal indexing, QA, etc. Documents released to system of record (FileNet) Once stored, documents are available for use in any downstream process; they should not be collected from the client again, and should not be printed and re-scanned. • Client logs into online banking from computer, laptop, or mobile device and verifies idenRty • Fills out e-forms; clicks to sign and submit • Client submits other electronic documents via portal upload Front Office uploads other collected documents (if digital) Once documents are verified, users can be noRfied and downstream business processes can be triggered E-forms can provide data validaEon, improve data quality, and simplify later recogniEon. XML generated with form and held in queue Front Office Capture Processing, Storage, and Access Client Portal
- 17. Underwri(en by: Presented by: How to Evaluate Opportuni(es 1. Is the form acRve or obsolete? 2. Does the form require a signature? Can the signature be electronic or must it be ink? 3. Is the form purely for data collecRon, but has no signature or retenRon requirements? Could it be replaced by a data capture applicaRon? 4. Are they low, medium, or high volume (thousands, 10ks, or >100M per year)? 5. Is it part of a high value business process (e.g., is it part of revenue generaRng process)? 6. Does it have a significant impact on customer experience? 7. Does it meet branding standards?
- 18. Underwri(en by: Presented by: How to Evaluate Opportuni(es 8. Does it meet customer/user experience standards? 9. Is the form part of a larger set of forms or documents? Are other forms or packages involved in earlier/later steps in the process? 10. Will the form require more indexing in the back office? Is it designed for auto-recogniRon? 11. Does it require content validaRon upon receipt? 12. Are there similar forms used by other business groups within your organizaRon? 13. Is any form content common/reusable across other forms within your organizaRon?
- 19. Underwri(en by: Presented by: What Should Your Team Do? 1. Be a core team of centralized resources 2. Have enterprise scope – cross business areas 3. Secure execuRve level support 4. Have clear focus on forms usability, consistency, and currency 5. Be acRon oriented – responsible for execuRon and/or implementaRon (not just standards and guidelines) 6. Tightly align with IT for execuRon support 7. Measure your results with regular reporRng 8. Address the “3 lenses” of communicaRon: (your) product, compliance, and client experience Compliance Product Client
- 21. Underwri(en by: Presented by: Management Consulting Objective Enterprise Content Management (ECM)
- 25. Underwri(en by: Presented by: • New business processing • ePolicy delivery • eDisclosure delivery • Online memberships • Claims and appraisals • Account maintenance • Mortgage • Disclosures • Lending • Credit card applicaRons • Account openings • Deposits and payments • Treasury management • Wealth management • Internal / OperaRons Banks, Credit Unions Financial Services • Account Opening • RRSP • GICs • Mutual Funds • Financing and retail installment contracts • Payment processing & merchant contracts • Internal / Legal • HR • Procurement • InspecRons • Licensing • Field force enablement • Supply chain management • OperaRons • AccounRng • Audits Government eContrac(ng • Vendor contracts • Contract approval process • Contract award noRces • Contract modificaRons • NDAs • Service agreements • Delivery order requests Healthcare/Pharma • Purchase orders for narcoRcs / controlled substances • Consent forms • Clinical trials • Lab reports Other Insurance Companies Insurance Brokers • Real estate transacRons • Federal tax returns • Law firms / client files • Outsourced accounRng • Safety/compliance forms for truckers / transporters • New business • Renewals • Endorsements • Account openings and maintenance • Internal (accounRng, HR) E-Signature Adop(on
- 26. Underwri(en by: Presented by: Why E-Signatures? • Reduce document handling costs - faxing, scanning, imaging, courier, manual QA; storage and retrieval • Offload paperwork from service reps; reduce reliance on knowledge workers OperaRonal efficiencies & reduce costs Lower risk with error-free transacRons • Complete transac(on in one session – retail call center or online • Client never has to return paperwork due to missing signatures or data • Reduce drop-off that occurs due to process delays Be(er customer experience • Eliminate errors and any missing data or signatures through enforced business rules • Reduces risk of non-compliant documentaRon • Capture detailed audit trails demonstraRng regulatory and compliance requirements
- 29. Underwri(en by: Presented by: European Union Advanced E-Signature • Promotes the Advanced E-Signature as a widely adopted form of technology-neutral e-signature in the market today See Recitals 27, 50 • “…cannot be denied legal effect and admissibility as evidence solely because it is in an electronic form or does not meet the requirements for qualified electronic signatures. eIDAS ArEcle 25, paragraph 1 Qualified E-Signature • Maintains the Qualified E-Signature to support clear standards on stronger authenRcaRon where needed • “…has the equivalent legal effect of a handwri(en signature.” eIDAS ArEcle 25, paragraph 2 eIDAS will make digital business easier in Europe
- 30. Underwri(en by: Presented by: Customer Experience & Security Achieving the best of both worlds Customer Experience Security “Overly complex processes lower adoption significantly” – Forrester Research
- 32. Underwri(en by: Presented by: E-Signature Defined Authen(cate Associate Intent A(ribute act of signing to signer § User ID/PIN § Email address § Shared secret § SMS Passcode § Online ID Service (KBA) § Digital CerRficate § Graphic signature capture § Voice • Associate acRon to document and signature locaRon • Embed verifiable signature data in document and secure AffirmaRve acRon with clear purpose Apply at signature locaRon for clear intent (consumers) • Click-sign • Type name • Signature-capture
- 41. Underwri(en by: Presented by: Code once. Deploy anywhere. PRIVATE CLOUD PUBLIC CLOUD ON-PREMISES U.S. Canada U.K. Germany Australia Singapore Japan Brazil Common Plakorm Common Integra(on Framework Common User Experience Enterprise E-Signature Service Bus Scalability Easily scale across mulRple lines of business – both locally and abroad Performance Maximize system performance no ma(er what deployment type Data Compliance Meet in-country data residency requirements with global data centers Cost No upfront hardware or infrastructure. Start developing in the cloud, then deploy anywhere. Deployment Op(ons