Bank Leumi

SIGNificant provides a user friendly and intuitive solution for Bank Leumi

Highlights

• Client: Bank Leumi – one of the leading financial institutions in Israel
• Product: SIGNificant
• Number of signature stations: 6,000 signature stations / over 2 million bank customers
   

Overview

Bank Leumi is one of the leading financial institutions in Israel, with offices in major economic centers around the world. In this era of digitized information there is an increasing need for secured and centralized solutions to manage document workflow and authentication. Furthermore, banks today spend significant sums of money on manpower, archiving and paperwork. For banks and many other financial institutions, biometric signature authentication provides the answer. Bank Leumi, like other financial institutions, is in need of a high security solution that is easy to implement and operate, trustworthy and reliable. SIGNificant's advanced system holds the perfect solution. The system makes an automatic comparison of the customer signature with the existing database of signature profiles for a complete and high-level security.

 
The Challenge

In its drive to ensure secured transactions, Bank Leumi was searching for a complete solution, which would implement a high level of transactions security, decrease check fraud for both private and business customers, decrease risk levels and optimize the entire process of handling signatures and signatories. Bank Leumi was also searching for a way to decrease manpower expense.  Their main challenge was to create a system that would communicate with the existing one, with minimum integration efforts. The bank’s readiness to enter the information age and seek an automated validation system led to SIGNificant's solution.

The Solution

SIGNificant presents an intuitive and user friendly environment for signature handling. There is no need to change habits or learn a new application, as the system provides a very comfortable interface and feeling of security using the old and trustworthy handwritten signature. Another benefit for customers is the reduced waiting time at counters, and the fact that in the near future they will be able to use personal tablets or PDAs for remote online transactions that are secured and authenticated by their handwritten signature. PIN codes or passwords that can be forgotten or breached will not be an obstacle for remote transactions.

The Benefits

SIGNificant brings an immediate return on investment by substantially slashing paperwork costs, archiving and manpower, and in addition providing the infrastructure for expanded applications. SIGNificant's web-based solution can be easily integrated with any existing workflow process in the bank and is very easy to implement. The system architecture is based on a layer-technology that allows easy changes in the entire structure according to emerging customers' needs. The bank employee's signatures can be also enrolled into the system in order to use them for internal approvals and document validation. As a result, the organization enjoys a superior workflow transaction process.