Capitec will soon allow you to sign documents digitally on its banking app using facial biometrics

Banking group Capitec says it has taken the final step in its paperless journey with the introduction of an e-signature capability, by means of a biometric fingerprint.

Capitec claims to be the first South African bank to introduce a legally compliant e-signature, which means it complies with Section 13 of the South African Electronic Communications and Transactions (ECT) Act of 2002, in that:

• The electronic signature used is able to identify the signatory;
• The signatory is indicating their approval by applying their electronic signature; and
• The method of capturing the signature is appropriately reliable under the circumstances under which the document is signed.

Wim de Bruyn, executive: business development and technology at Capitec, said: “We will extend this capability to facial biometrics later this year, allowing our clients to e-sign documents from anywhere, 24/7 on our banking app.”

Clients will be enrolled for the new e-signature solution as they make use of a Capitec branch.

The benefits of an e-signature capability include client security: A robust electronic identity is established by linking the client’s ID, photo and fingerprints, backed up by a secure, tamper-proof audit trail and the enabling of a multifactor client authentication each time the client interacts with Capitec.

Read: Capitec launches new ‘flexible’ credit option – here’s how it works