Three in every four in-store credit agreements now signed digitally using electronic IDs
Customers signing a credit agreement in stores served by Resurs Bank no longer have to sign physical paperwork – instead, they can sign using their eID and create a digital agreement. All paperwork is shared digitally, so in-store purchases of high value items requiring a credit agreement are therefore as fast, secure, and convenient as any online transaction.
The agreement is signed using a combination of Signicat Sign and an approved electronic ID (eID), such as BankID. The customer can easily accept the terms and conditions and sign using their mobile device.
A pilot programme in Sweden was an instant success, with 76% of customers choosing to sign credit agreements using Mobile BankID. The service has now been rolled out to all retailers served by Resurs Bank in Norway, Denmark, Sweden and Finland.
“This technology means that traditional stores can better compete with their online rivals—while they offer superior customer service they need to combine this with the convenience of online shopping,” said Marcus Lennerhov, Product Manager at Resurs Bank. “Thanks to Signicat, the majority of our retail credit agreements are now signed digitally using a mobile device giving customers the security and ease they are used to online.”
“In ditching paper, electronic signatures offer a frictionless and instant customer experience, and gives retailers a trusted and scalable way to deal with growing demand while improving conversion,” said Gunner Nordseth, CEO, Signicat. “Working with Resurs Bank to provide digital signing to over 35,000 stores is another milestone for digital identity in the Nordics, a model for the rest of the world to emulate.”
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Based in Trondheim, Norway, and founded in 2007, Signicat operates the largest Digital Identity Hub in the world, offering the only complete identity platform in the market and trusted to reduce the burden of compliance in highly regulated markets.
With Signicat, service providers can build and leverage existing customer credentials to connect users, devices and even ‘things’ across channels, services and markets transforming identity into an asset rather than a burden. By ditching manual, paper based processes and replacing them with digital identity assurance, customer on-boarding is accelerated and access to services is made simple and secure. Signicat’s Identity Hub is a complete solution to that offers compliance and a route to better customer engagement.
Signicat has over 200 financial services organisations as clients, connects to more than 20 schemes globally and verifies more than 10m identities per month.
For more information, visit: https://www.signicat.com/contact/
CCgroup for Signicat
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About Resurs Holding:
Resurs Holding (Resurs), which operates through the subsidiaries Resurs Bank and Solid Försäkring, is the leader in retail finance in the Nordic region, offering payment solutions, consumer loans and niche insurance products. Since its start in 1977, Resurs Bank has established itself as a leading partner for sales-driven payment and loyalty solutions in retail and e-commerce, and Resurs has thus built a customer base of approximately 5.5 million private customers in the Nordics. Resurs Bank has had a banking licence since 2001 and is under the supervision of the Swedish Financial Supervisory Authority. The Resurs Group operates in Sweden, Denmark, Norway and Finland. At the end of the second quarter of 2017, the Group had 742 employees and a loan portfolio of SEK 22.3 billion. Resurs is listed on Nasdaq Stockholm, Large Cap.