LEGAL ASPECTS OF IMPLEMENTING DIGITAL SIGNATURES IN PAPERLESS BANKING
LEGAL ASPECTS OF IMPLEMENTING DIGITAL SIGNATURES IN PAPERLESS BANKING

Summary/Abstract: Integrating electronic signatures into paperless banking projects offers a transformative opportunity to streamline transactions and increase efficiency. However, this innovation is not devoid of legal challenges, especially within the framework of the eIDAS Regulation. This article examines the key legal hurdles encountered when implementing electronic signatures in paperless banking under the eIDAS Regulation. We examine the following topics: the legal validity of electronic signatures, the identification and authentication of signatories, and the establishment of secure electronic signature systems that comply with eIDAS requirements, as well as the liability and evidentiary considerations associated with electronic transactions. We highlight the need for financial institutions to put in place robust mechanisms to ensure compliance with eIDAS standards while navigating the complex legal landscape surrounding electronic signatures in paperless banking. By addressing these challenges, financial institutions can realize the full potential of electronic signatures to revolutionize the banking industry while maintaining legal integrity and regulatory compliance.

• Details
• Contents