Three in every four in-store credit agreements now signed digitally using electronic IDs
Trondheim, Norway 28th November 2018 – Signicat, a leader in verified digital identity solutions, today announced it has been selected by Resurs Bank to provide instant mobile signing of credit agreements. Resurs Bank is the leader in retail finance in the Nordic region with more than 1,000 retail partners, serving more than 35,000 stores.
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.”