Capitec has launched a new eSignature feature which allows its customers to use their biometric fingerprint as an electronic signature.
“In a time of COVID-19 and social distancing, this is a crucial move to ramp up convenience and help keep South Africans safe,” Capitec said.
“Biometric readers allow for sanitization after each client’s use, while paper documents cannot be easily disinfected between parties.”
Capitec said it is the first South African bank to introduce a legally-compliant eSignature.
This means its solution complies with the South Africa Electronic Communications and Transactions Act in that the electronic signature is able to identify the signatory, the signatory indicates their approval by applying the electronic signature, and the method of capturing the signature is appropriately reliable under the circumstances under which the document is signed.
Clients will be enrolled for the new eSignature solution as they make use of a Capitec branch, the bank said.
The following benefits are enabled by this technology:
- Client security
- Less paperwork
- Reduced environmental impact
- Improved safety of documents
“We’re constantly challenging the norm, helping our clients to live better through smarter, simpler banking,” said Capitec business development and technology executive Wim de Bruyn.
“Our transition to paperless banking is in line with this, offering our clients improved convenience in the form of faster service times and simpler processes.”
“We will extend this capability to facial biometrics later this year, allowing our clients to eSign documents from anywhere, 24/7 on our banking app,” De Bruyn said.