Bank Gutmann is the market leader in Austria and specialises in the field of asset management and investment advice. As a modern family business with tradition, they always focus on customers and their needs. Your customers trust in her expertise and experience in implementing their personal values and have done so for generations.
Gutmann’s investment company develops tailor-made fund solutions in the field of mutual and special funds. They currently manage around 195 investment funds with a total volume of around EUR 10.5 billion
Company Name: Bank Gutmann
Short description of the project:
We were looking for a way where both our customers and employees could securely sign digitally. sproof turned out to be the right partner for us.
Why sproof sign:
“In the past, there was a folder that had to wander through the house and be signed in various places. Now there is a digital folder that makes our signing process much easier.”
How did the decision to introduce the digital signature come about?
Klotzberg: “In private banking and generally when opening business relationships, many documents and contracts have to be signed and updated. It is ideal if you do not need a personal appointment on site for all these signatures. That’s why it was important to us to find a way where both our customers and employees could sign legally in a secure setting.
Of course, digital signatures were already an issue for us before Corona, probably more in the institutional than in the private customer sector. However, we have increasingly sought a solution due to Corona.”
What is the digital signature needed for?
Klotzberg: “On the one hand, for documents and reports that have to be processed and signed internally. On the other hand, for orders that we process together with business partners. In addition, it is essential that both our customers and we – as a bank – can sign documents and exchange them with each other.”
What signature standard is used?
Klotzberg: “We currently only use the highest standard of qualified electronic signature (QES) due to our banking operations and the security factor. When we take a look into the future, however, we consider whether an advanced signature would not be sufficient internally.”
What resources can be saved?
Klotzberg: “The time factor is an important point. In the past, there were only signature folders that physically wandered through the house and were signed in various internal places. Now we are increasingly using a digital “folder” where it is defined from which place a signature is required before sending. The documents in this folder can be signed much faster.”
“In the past, there was a folder that had to wander through the house and be signed in various places. Now there is a digital folder that makes our signing process much easier.”
Marion Klotzberg
Chief Digital Officer
What were the most important requirements when choosing the signature platform and what role did the interface for qualified signing play in this?
Klotzberg:
“The most important thing was that my colleagues could sign digitally quickly. The creation of a virtual workbook or the execution of several signatures at the same time was also a requirement.
Another essential point for us and our customers is the eID & QES Hub for digital identities from various European countries. We have offices in Budapest and Prague, so we need a platform that also involves Eastern European certificate providers in the signing process. Thanks to sproof sign, our international customers do not have to apply for another qualified signature, they can continue to use the already existing qualified signature from their country. This makes for a much more pleasant customer experience and ensures the correct process of signing across national borders – without any further effort.”
How did the introduction of sproof sign work?
Klotzberg: “At the beginning, we looked at the sproof website and got a test account. This allowed us to try out the functions and run through our various use cases. In the next step, our IT security officer checked for data protection as well as security and up-to-dateness of the systems. Then we talked to sproof sign ourselves and finally decided to go for it. After the final contract negotiations, which are quite complex in private banking, we clarified and finalized all the requirements.”
Why choose a European cloud provider?
Klotzberg: “It is very important to us that we cover all regulatory and safety requirements. This also means that we know exactly what happens to both our data and the data of our customers. How they are stored, where and for how long, as well as who else is involved in this process. That’s why we chose a European company.”
What is the significance of digitization in banking?
Klotzberg: “Digitization will continue to accompany us in various forms, because it is not a very big trend for a few years and then suddenly disappeared again. While it’s not the exclusive way to communicate with our customers, it’s also there to support us and our customers. Digitization is here to stay. I think there will be many other developments in the future that we can’t even imagine yet, that can simplify our lives.”
