First digital banking in Hungary

        

otp bankElectronic customer documents reducing costs and lots of processing time

More than 50.000 customer documents have to be managed electronically at the biggest financial institute in Hungary, the OTP bank. With introduction of the signature pad “Delta” from signature specialist signotec, the bank is now able to electronically edit every account within Europe, directly with the signature pad.

In the domestic banking sector, the OTP bank is the first credit institute, which has implemented a customer administration underutilisation of the advanced signature via signature pad. The solution allows reading and signing of the generated digital document, directly on the pad. signotecs signature pad “Delta” is utilised, which allows displaying documents in their original width and comfortable scrolling. Because the Delta pad is a real signature pad and not just a monitor extension, it’s completely independent from the application on PC. These features are making this tool unique, not just in Hungary.

With the signotec signature pad, the system generates highly secure, electronic signatures and fulfils the strictest legal requirements. This is possible due to the internal signature unit within the pad itself, which in this form, is only available at signotec and makes for an absolute unique selling point. A server manages the electronically signed documents. Neither bank employees nor other persons in the banking industry have access to signatures captured within the documents. Therefore, in accordance with the applicable regulations, a certified copy of the electronically signed document is available at the customer banking account. It can be retrieved either directly within the OTP bank or via the banks Internet banking interface.

With the signotec technology, a signature is captured along with its writing dynamics and the relevant criteria are saved. The signature authentication technology recognises the typical dynamics and therefore unique characteristics of the signature and gives an immediate feedback regarding the signatory.

The customer signs transactions like deposits, payments and transfers directly on the pad. Personal loans and Internet banking contracts don’t have to be printed out anymore before signing. Management is going to be significantly simplified with the help of signature pads. An account with the related documentation comprises about 150 pages. By using the e-Signature, processing time of up to half an hour, can be reduced to a fraction the time. Usage of the electronic document on the “Delta” is imaginable convenient. Complete A4-documents are displayed in their original width and can be comfortably scrolled with the pen. To navigate through the document, the pen just has to be moved up or down.

In the next 3 years, 100 million documents will be processed by to OTP bank. Thanks to the use of the signature pads, 50 million DIN A4-pages don’t have to be printed out before signing. Management of customer documents in electronic form reduces costs and a lot of processing time. 3.200 employees in total within the branch network of the OTP are working with this tool. The signature solution is – also for security reasons – centrally installed exclusively on the server in the OTP infrastructure, there is no need for a client-side installation.


About the OTP bank:

The OTP bank is the largest Hungarian financial company and is, in addition to Hungary, also active in numerous Middle- and East European countries. The abbreviation OTP stands for Országos Takarékpénztár (national savings bank). The company emerged from the public national savings bank of the same name OTP, founded in 1949, which was privatised in 1991 just like the other two public banks, foreign trade bank and investment bank. Due to ambitious acquisitions since privatisation, the OTP group is by now also represented in Slovakia, Ukraine, Bulgaria, Romania, Croatia, Serbia, Montenegro and recently also in Russia

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