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ABU DHABI / WAM
First Abu Dhabi Bank (FAB) launched FAB eSign, a new portal that provides a secure, safe and legally valid way
for clients to sign documents digitally.
Initially available to clients of FAB’s Global Transaction Banking (GTB) division, FAB eSign allows authorised signers to digitally sign documents anywhere and anytime, the bank said in a statement on Wednesday. This eliminates the need to sign documents in ink and submit physical documents to the bank.
This innovative service is fast and convenient, addressing pain points which required FAB relationship managers and clients need to pass physical documents person-to-person.
Some of the documents eligible for FAB eSign include Channel on-boarding documents, Facility Offer Letters, Escrow Agreements, etc.
Commenting on the new portal, Manoj Menon, Senior Managing Director and Head of Global Transaction Banking, said, “FAB eSign meets a strong underlying demand for an increased scope of digital services. It also has particular relevance currently, as both bank employees and clients are exercising social distancing, and many authorised signers are working remotely from home.”
To use FAB eSign, authorised signers are notified via email when documents are sent to them and they enter their credentials to access an on-line portal where the authorised signer can review the document and add their digital signature.
The digital signatures are secured using public key infrastructure to create an encrypted digital certificate. The encryption operation binds the signer’s digital certificate and the document and creates one unique fingerprint or key. This ensures the document is authentic and signed by verified signer, that it has not been tampered with after being digitally signed, and that the identity of the signers is always maintained and can be verified at any time. The FAB eSign solution was made possible by FAB being licensed as a ‘Digital Certification Provider’ by
the UAE Telecommunication Regulatory Authority.
This license allows FAB to act as a Certificate Authority and issue digital certificates to its subscribers.