14 October 2016
- Cecabank signs an agreement with the UAM Foundation to promote banking technology solutions
- R&D projects in the field of biometric recognition of handwritten signatures online will be funded
Cecabank strengthens its commitment to the pursuit of technological solutions for banks. It pursues those that respond to the customer's needs and incorporate best security practices. Today, the company has signed an agreement with the Fundación de la Universidad Autónoma de Madrid (FUAM). Together they will promote and strengthen research and development activities in the biometric recognition of online handwritten signatures, of the UAM's ATVS biometric recognition group.
The purpose of the Digitalised Signature System (SFD) is to replace the handwritten signature of physical documents with electronic documents. After that, the signature will be securely stored in electronic biometric format. Digitalisation of documents at source through the digital signature enables efficiency gains in business processes. It will also transform the relationship with the customer in the multi-channel environment and reduce operational risk. On the other hand, it offers cost savings, reduces the environmental impact and helps to prevent fraud.
Cecabank was a pioneer in the real implementation of biometric solutions in Spain, beginning these operations in 2008. Currently, the solution is in place at more than 16,000 branches, with deployment of more than 46,000 tablets. More than 500 million signed documents are managed annually, benefiting 15 million end users.
Secure signing of documents, one of the bank's technological solutions
Cecabank is a leader in the development of this type of service. A large part of the Spanish banking sector and other economic sectors are involved in the project.
Jaime Manzano, Head of the Reporting, Operational Management and Banking Training Services at Cecabank, commented: "Digitisation is one of the priorities that every company must address in order to adapt to the changes that are revolutionising the sector. One of the ways for companies to deal with this transformation is to collaborate with partners, jointly expanding our knowledge. For Cecabank, the alliance with the FUAM is part of this strategy. It is a partner that provides us with a great research capacity. "
According to Javier Ortega García, director of the UAM Polytechnic School and the ATVS Biometric Recognition Group, "Cecabank's commitment to R&D+I in relation to biometric recognition of handwritten biometric signatures represents a milestone in public-private collaboration for the development of this type of solutions. Our research group has global leadership in these areas. In prior pilots developed with BIOTRACE-100 technology, authentication returns have been obtained similar to those with biometric features with greater power of discrimination a priori. An agreement of this nature will enable cutting-edge technology, with extraordinary performance levels and with which the end user is familiarised.
About Cecabank
Cecabank is a wholesale bank in Spanish capital with a principle of service to all financial institutions. It is a specialist in Securities Services, Treasury Management and Banking Services, and it bases its management philosophy on a thirst for knowledge, a commitment to caution, and an openness to change.
About the Foundation of the Autonomous University of Madrid
The Foundation of the Autonomous University of Madrid (FUAM) is a non-profit institution whose fundamental mission is to bridge the gap between the Autonomous University of Madrid (UAM) and society. Its main goal is to promote the transfer of knowledge from the University to society as whole: through teaching and research, encouraging studies, promoting culture and university attendance, and promoting values of solidarity, tolerance, coexistence, freedom, and justice.
