In a bid to simplify processes, improve the customer experience and enhance digital transformation, Bank of Valletta has recently introduced digital signature technology, which once fully rolled out to all services and processes across its operations, will see the Bank furthering its objective of going paperless.
Digital signatures will replace the need for customers, suppliers, and employees to physically sign documentation, whilst at the same time retaining the same means of authenticity. The transformation started off with selected customer-related services and internal processes and will gradually be rolled out to instances where documentation needs to be signed off by the Bank and its customers or suppliers. Digital signatures will be valid for authorising financial transactions, applying for new products or services and even the signing of employment contracts and procurement agreements.
BOV's Chief Digital Officer, Theodoros Papadopoulos explained that "The Bank is working tirelessly to make significant advancement in the digital sphere, and the introduction of Digital Signatures is yet another step forward in the digital journey that Bank of Valletta has embarked upon. Digital platforms are important tools for enhancing the customer experience. Gathering feedback from customers through the Bank's Voice of The Customer programme is essential for us to continue improving and innovating, and we shall soon be announcing further developments on our digital platforms."
During the first phase of the Digital Signatures project, Wealth Management and Private Banking customers have started signing off documents digitally when executing Stockbroking instructions and other documentation. Customers applying for new Internet and Mobile Banking services through the Customer Service Centre's Virtual Branch are also receiving the relative documentation electronically.
The next steps will see customers who will be applying for personal and corporate debit cards signing digitally on their application agreements. New employees joining the Bank are already doing away with signing physical documents, whilst suppliers doing business with the Bank are also already using digital signatures when signing procurement contracts.
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