Make your digital signature your gateway to paperless (digital) credit in no time at all

Last year 53 percent of Germans did their banking over the internet, according to the German Federal Statistics Office. Most login to their bank’s online portal to check their balance or pay bills, but more complex transactions are increasingly being carried out over the Internet. As a result, more financial service providers are also making it possible for customers to apply for credit online. Since the technical and legal frameworks are in place, banks can now digitally collect the necessary elements – like identification and signatures. Thanks to Online Legitimation and electronic signatures from businesses like IDnow, it’s possible to apply for credit from the comfort of the sofa. This saves the customer a trip to the bank or post office and they get their desired credit even faster.


Secure online identification

Today, all that is needed is a computer or a smartphone, a valid identification and a secure Internet connection. An Ident-Specialist can ensure the identification matches the applicant over video chat. If the identification fits, then the application can be completed in just a few clicks of the mouse. A Trust Service Provider then takes this to generate a Qualified Electronic Signature (QES), which meets the highest levels of security, is valid across Europe and is just as secure as an in-person signature. The entire process takes just a few minutes, putting the client on a quick and simple path to their desired credit.

To get easily and everywhere an online credit

Online credit is also increasingly popular as online banks and credit marketplaces provide more favourable conditions than traditional bank branches can. According to a study by the comparison portal smava, a quarter of credit was approved online in 2015. Electronic signatures give banks a comfortable and quick way to approve credit. And since the so-called eIDAS Rule came into effect in mid-2016 to streamline electronic signatures across the EU, these electronic signatures are paper- and borderless.

Seamless use in eCommerce

Online stores are wooing shoppers by allowing them to pay for their purchases with online credit. And when the customer can complete the financing application as part of the payment process, they get their purchases even faster. It eliminates the tedious printing, signing and mailing as well as the trip to the post office to verify their identity. Instead of all this, the online shop can connect directly with the bank once the credit application is approved and send out the order. Credit marketplaces like auxmoney are using video identification and electronic applications as well. This allows customers to get their credit in just minutes without getting up from their computer.

If you would like to learn more, meet us at Digital Banking Day in Munich, Germany, from September 21 to September 22, 2017. You can also read about our solutions at or contact us at We look forward to hearing from you!

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