VTB brings machine approval to electronic signatures

Source: VTB

In order to optimize business processes, VTB bank has developed and implemented a technology that made it possible to speed up the exchange, processing and signing of legally binding electronic bank documents.

The new development allows for automatic verification of electronic signatures, robotization of approval routes, organization of electronic archives, and auto-recognition of electronic documents.

The introduction of the software reduces the time for processing documents by 2 times, as well as increasing the use of electronic economic document management.

VTB integrated the new system with the largest operators of electronic document management and provided a single internal contour for the work of bank employees with legally binding electronic documents, which corresponds to all the necessary requirements for information security.

The technology was developed and implemented in 5 months: the adjustment, pilot and launch of the process of electronic signing of documents in the internal systems of the bank were made.

“The introduction of this system is an important stage in the implementation of the bank’s digital transformation strategy. In the future, we plan to fully automate the process of document flow within the bank from the receipt and verification of documents to their payment, which will allow us to speed up our internal processes. and remove standard routine operations from our staff’s workload.” said Dmitry Pyanov, a member of the VTB Management Board.

VTB’s development was recognized as the best, with a nomination for “Implementation of the Year in the Field of EDI” of the CFO Russia award “The Best EDI in Russia and the CIS 2021”.

Nikita Rybchenko, Head of the Department of Technological Development of General Banking Systems and Vice President, said: “VTB is actively developing and implementing internal services for employees and managers of the bank. Open technology stack. The solution for processing electronic legally binding documents within the bank on a single digital platform provides automatic recognition and verification of documents, which significantly speeds up the bank’s document flow and allows you to give up paper.”