Electronic contract signature at point of sale
Today, many companies in the banking, insurance, telecommunications, energy and other industries have their own networks of sales and distribution agencies that allow them to reach out to their clients physically. These agencies are places for acquiring new clients where thousands of new contracts are signed by hand on paper every day. Processing these documents is onerous, costly and not environmentally friendly. And yet the encounter between a client advisor and a prospect at a point of sale is an ideal context for appending an electronic signature with high probative value to a digital document.
With this in mind, Cryptolog has designed and developed a solution for electronic signature of contracts at the point of sale offering a complete paperless solution for contractual documents. Based on the use of a multi-functional touch pad, this solution offers a wide range of benefits:
- Reduced costs for client registration procedures at the point of sale (savings of at least 50%) through the digitalization of supporting documents, paperless contracts and the immediate dispatch of the data extracted from the documents to information systems
- Fewer paper files (80% fewer on average), and lower transport (reduction of CO2 emissions) and storage requirements
- Protection against fraud thanks to the security of the client acquisition procedure (authenticity check of documents provided)
- And above all, full compliance with the legal and regulatory needs.
With regard to this final point, the proposed process satisfies the requirements of the French decree of April 13, 2001, concerning electronic signatures by implementing a number of steps:
- The client provides his identity papers, which are scanned and verified
- The distributor or vendor is authorized to connect to the device using a badge and carries out the role of registry operator
- The client sees and accepts a request for a certificate
- The private key can be generated on a support such as a USB key or SIM card, secured and protected by a code giving the client "exclusive" control
- The client views his subscription contract, then signs it "manually" on a touch pad. The contract with the client's digital signature is then signed electronically with the private key generated in the previous step
- Before the signed contract is archived, the electronic signature is verified
- Finally, the contract is timestamped and then archived cryptographically.
Since 2008, we have been using this solution with SFR. Once the investment is made, the agency signature makes it possible to reduce fixed processing and archiving costs of between EUR 5 and 20 per paper contract to a cost of EUR 0.20 to 3 for contracts in electronic format.