Mozipo IFN, a non-banking lending institution, adopted in April 2018 the electronic signature for the conclusion of credit agreements. The institution aims at eliminating paper documentation by digitizing the credit process as well as simplifying sales processes, responding to the needs of customer mobility and speed. The remote electronic signature certificates used to sign the documents are issued by certSIGN, a trusted service provider qualified in accordance with EU Regulation no. 910/2014 on electronic identification and trust services for electronic transactions.
Thus, after the first month since the launch of the service, Mozipo IFN has awarded more than 1500 online credits. Online credit is obtained in less than 10 minutes.
"Today, more than ever, the speed with which you can meet the customer's need – in our case, the speed we can give credit – is essential. With the help of our certSIGN partners, we have succeeded in digitizing the entire credit process and eliminating any exchange of paper and the need for roads to one of our offices. Now everything is as simple as possible and happens 100% online. The customer completes the data with us on the site, electronically signs the required documents with a digital certificate issued locally, at a distance, and obtains the credit in minutes from the front of the computer", says Andrei Dragu, General Manager of Mozipo.
Electronic signatures for financial services (banking and non-banking) become every day an indispensable tool in the relationship of the credit institution with the client. The main objective is to use electronic signature services to sign the documents needed for remote crediting by customers in front of a computer or a mobile device. In Mozipo's case, the major challenge was to use these services in line with current standards, good e-signature practices, but also with European and national legislation. The remote electronic signature used is recognized on the territory of Romania and the European Union.
"We have identified this opportunity with the emergence of EU eIDAS Regulation 910/2014 on reliable suppliers and services and we have begun preparations in this direction. By the end of 2016, the services to be prepared for the market, the accreditation conditions and the auditor agreed at EU level were analyzed. All technical and operational procedures have been aligned with standards and best practices in the field of trust services. At present, we come to meet our customers with a new service that responds primarily to their business needs. Service security and compliance with standards and legislation remain our mission, confirming the trust our customers have given us over the past 10 years. Now, certSIGN customers have at their disposal solutions and services with a high degree of trust and recognition", said Aurel Meiroşu, certSIGN Business Development Manager.
certSIGN's systems and procedures have been developed and expanded for the issuance and remote management of the electronic signature creation mechanism by the client. Thus, in its on-line journey, the client goes through all the steps necessary for a process: accepting specific clauses for personal data processing, viewing the documents required for signing (crediting, hiring), as well as other procedures required by the legislation in force. At the same time, the integration of the certSIGN services allows the issuance of a digital certificate necessary for the creation of the electronic signature after the client has been identified according to the legislation in force.
"All this effort over the last three years, opening up and trusting in technical skills and work procedures certSIGN allowed us to have projects in various areas implemented with a large part of the target market. Three months ago, we delivered the remote electronic signature service in accordance with eIDAS 910/2014 with Mozipo IFN. Customers in their credit process have the opportunity to sign the documentation, at a distance, through the digital certificate issued by certSIGN", adds Aurel Meiroşu, certSIGN Business Development Manager.
certSIGN, the leading manufacturer and developer of cryptographic solutions and reliable services in Romania, provides reliable eIDAS requirements. Its solutions are fully developed in Romania and designed specifically for the needs of the business environment and for facilitating relations with public institutions.
Mozipo was established in 2007 and is among the first non-bank financial institutions to provide credit over the Internet and SMS. Its simple and clear procedures allow customers to get credit online and in their offices in just 5 minutes.