"People are looking for convenient, streamlined, and secure ways to interact with financial institutions. Our E-Signature technology is enabling banks to provide services through additional channels (web and mobile) that were once thought to be available only in the branch. This is a win for all involved." said Heinz Reschke CEO at Softpro.
There will be several key capabilities that Softpro will be demonstrating. They include:
- the ease in which financial institutions can integrate e-signatures into their processes
- a standard signature platform that enables device flexibility and multiple signature options
- interoperability between off-line and on-line electronic signing
- integration between e-signatures for workflow automation and fraud detection
Major innovation: The first SignPad signature tablet with color display
In 2011 Softpro comes up with another CeBIT Premiere: The SignPad Color is a new signature pad, which was again developed in close cooperation with the long-term hardware partner Wacom. It will be also known with its technical term "Wacom STU-520". Wacom claims to be the world leader in pen tablets. When compared with other tablets and pen pads on the market SignPads stand out for being much more robust because the sensor is located behind the display.
Also in use at the booth is Softpro DESKO SP 500 TabletKiosk - a kiosk with reader for identity documents and data on magnetic strips. This device is also based on Wacom's Penabled technology and it works with software from Softpro. At CeBIT several applications that have been tried already in the public administration and commerce and telecommunications companies in practice will be shown for the first time to a broad audience. Hence Softpro offers at CeBIT by far the most comprehensive overview of different types of devices for collecting signatures.
E-Signing at its best
The new version 3.2 of SignDoc sets the next milestones in combining convenience and security – in the most efficient way. SignDoc Web enables the signing of documents directly in the web browser through an ultra thin client. The client side footprint is minimized and SignDoc Web can be disseminated with web-like convenience.
E-Signing with SignDoc is at least as secure as signing on paper: Besides the static image of the signature that is familiar to everyone on paper, signature tablets and Tablet PCs also capture dynamic signals. These signals are created throughout the signing process and may be used as additional security features. The different levels of the writing pressure, speed and velocity throughout the writing process are very unique to the individual signer. They can be verified automatically on demand.
Checks are still alive
The second major topic of Softpro's presence at CeBIT is Check Fraud Prevention in paperbased payment processing: Although the rate of online banking is increasing hundreds of billions of checks are written every year throughout the world. The affinity to checks is not diminishing in the "check countries". The relative importance of checks as a payment instrument is outstandingly high in Singapore, Turkey, the United States, Brazil and Canada.
For financial institutions worldwide, check processing and clearing is a significant cost factor in the payment process. However, reduction in processing costs leads to higher check fraud risk exposure. Check fraud is consistently rising year-over-year and is expected to continue rising as fraud perpetration using other payment instruments such as credit cards becomes increasingly difficult.
The use of checks as a vehicle for fraudulent transactions is a global phenomena. The figures about check fraud worldwide are impressive. However only a few organizations are publishing figures about fraud cases and money lost due to check fraud. Arguably the motivation for perpetrating check fraud crimes is the low risk of being caught.
Holistic Check Fraud Prevention is highly important
These losses can be avoided. Searching for fraud amongst the billions of transactions may seem like searching for a needle in a haystack. However there is one holistic and sustainable way to address all relevant aspects of check fraud and effectively lower the operational risk. Leading financial institutions around the globe cope with this challenge in using Softpro's SignPlus product suite and securing millions of transactions every day. Up until now, the challenge to fighting this fraud has been to reduce check processing costs while increasing, rather than decreasing, protection against fraud losses.
At Cebit Softpro showcases the latest features SignPlus Edition II. Banks enjoy substantial savings for back-office check processing centers by automating tedious and error-prone manual verification while significantly improving the detection of fraudulent items. This solution enables banks to take necessary precautions to secure the paper-based payment process and prevent losses from check fraud in a truly cost-effective manner. Softpro has a proven track record with her systems for the validation of handwritten signatures and fraud prevention in payment processes. The company provides the SignPlus suite of products, which were initially conceived in cooperation with a consortium of the largest U.S. banks. The solution is considered by many of the US Tier 1 banks to be a "best practice industry initiative" to combat check fraud and has been successfully deployed at many of the world's largest financial institutions since its inception.
CeBIT: A true global meeting place for a world market leader like SOFTPRO
CeBIT is the key trade fair for Softpro, especially because of its increasingly international orientation. Heinz Reschke, CEO of Softpro: "Our global experience is more important than ever for our prospects, customers and partners across the world. There is no better place for networking and business generation as this is the only cross-vertical IT-show that has an impact across the continents. It is a truly global meeting place."
