TeleTrusT awards prize for manual digital signature
The German TeleTrusT association has awarded its Innovation Prize 2009 to The Spanish Confederation of Savings Banks, CECA (Confederación Española de Cajas de Ahorro) for its new customer digital signing system.
Traditionally UK banks have used customers written signatures, visually compared to on-file samples, as part of the procedure for verifying identity and for authenticating documents on paper.
The Spanish Banks method uses special graphics tablets and combines biometric and cryptographic procedures. It's hoped that the use of digital signing will reduce the number of paper documents in the banking system. CECA uses more than 10,000 signature devices in more than 1,500 branches – 5 million transactions have been digitally signed so far. Next year, 25 member banks are planning to introduce the tablets into a total of more than 5,000 branches.
The Berliner Sparkasse (Berlin Savings bank) has used a similar procedure for a year. In his acceptance speech CECA's IT executive said the experience of the Berlin bank had provided CECA with valuable input. According to the executive, the method meets legal requirements and is both secure and well accepted by customers and staff.
- TeleTrusT verleiht Innovation Award auf der ISSE 2009, German language Innovation Award 2009 announcement from TeleTrust.