Several Founders, Co-Founders, CXO Bankers, CXO Fintech professional & people who participated in the ePanel discussions:
- Mr. Vikram Sareen, Co-Founder & Digital Transformation Architect, The Advisory Network
- Mr. Sharad Goklani, CTO at Equitas Small Finance Bank
- Mr. Pratik Maheriya, Technology Sales Manager-International Market, Decimal Technologies
- Mr. Shashank Chowdhury, Former Executive Vice President – Inclusion Initiative, Vakarangee software Ltd.
- Mr. Vikas R Panditrao, Co-Founder, Forum of Industry and Academic Knowledge Sharing (FIAKS)
- Many other CEO/CXO Bankers & Fintech professionals on FIAKS Forum requested to remain anonymous
This pandemic has put everyone on work from home mode and to surprise many companies are considering it to be the future of work. It seems like a new reality. Well, on the contrary, every company cannot consider work from home to be the future reality. FIAKS community had discussions on the same involving banks.
Question 1: Are banks designed for remote working? Are they not facing challenges in giving connectivity to vendors to operate remotely? Signing contracts remotely (Eg- DocuSign), etc
Question 2: Isn’t this the right time for regulators or banks to formulate policies around this to face or be prepared for such scenarios in the future?
Now here’s some insight shared by members regarding signing contracts remotely:
- A member mentioned, “In 2000, I was part of the engineering team that made digital signing products, we made loads of products in DIGSIG but till now e-signing or proper way of non-repudiation has not come in. Regulations already are there for ages. Certificate Authorities like VERISIGN, GlobalSign, COMODO and many more and there are both digital and postal ACT/Laws, the problem is not LAW or CAs, it is the fact that people do not accept digital and now with covid19 it might get accepted but then again humans forget very soon so covid19 will be also forgotten in 1-2 years and paper will rule again!”
- Well, if you see, not just banking, the entire eco-system of finance and commerce have silos of excellence in the ocean of lazy transformation to seamless digitalization.
- Bankers deal in documents but apart from digital payments no other document-intensive activity of banking has been effectively and securely automated in India and elsewhere.
- The disparate levels of digital maturity among all participants of financial and commercial services leads to an uneven digital society.
Is e-sign valid in the court of law? REGISTER and READ the complete discussions