A few years ago, the financial world involved long processes that forced people in need of financial credit to go to the offices with documents that guaranteed their ability to assume the debt. Banks were the only entities authorized to lend money and, in the light of a traditional sector, everything moved physically and irremediably slow.
Digital Transformation: Security in Online Transactions
Then came the technological era and, with it, the possibility of applying for financial loans and making processes faster and more agile. Although it was a process that took time: it took years to evolve from transactions with a stamp on paper to making them on our cell phone. Similarly, it took years for banks and users to dare to make online transactions.
What made this process possible? Technology faced a challenge that it still faces today: it had to prove that it could be secure. Socially, online security still generates many doubts. In the physical world, the tangible is the evidence of the actions carried out; but in the digital world, as the evidence is intangible, skepticism is often generated.
However, it was the user himself who understood that the digital world could be equally or more secure than the physical world. Now, they demand security to carry out online transactions.
Trust, the basis of the relationship between customers and financial institutions
When financial credit processes are carried out, both banks and users are consolidating a relationship of trust. While it is true that it is the bank that disburses the money, it is the user who chooses which bank he/she wants to do it with and is willing to pay interest according to agreements between the parties. Any contract is important, and those involving financial sums are especially delicate. In many cases, they will establish a relationship between bank and user for years, making it essential that the conditions of financial loans and the identity of the participants are clear and well safeguarded.
This is where digital signatures take on special relevance, enabling integrated processes with identity validation when necessary, or allowing the use of codes for opening documents before they are signed. Using digital certificates or OTP codes, the time of an operation is guaranteed through time stamps.
In short, the user who used to sign without knowledge can now receive a copy of his documents and feel confident with the bank, which offers state-of-the-art technology to ensure that his data and the process carried out are in the best hands.
More than 23 years helping clients with their financial loans
Viafirma is a consolidated company with more than 23 years of experience in digital and electronic signatures, with clients around the world who put their image and trust in us. At Viafirma, we understand that when a bank puts its trust in us, it is putting its clients in our hands.
That is why we have long term relationships with great clients in the market; we are proud to make the universal signature a reality. One of our clients is Motor Crédito S.A., a Dominican Republic institution dedicated to meeting the financing needs of the private sector for the purchase of vehicles and motorized equipment.
Daneury Peña, Planning and Development Manager, shared his experience with Viafirma’s solutions on the second day of our May event, Digital Signature, Beyond Ink.