Digital Signatures Being Adopted By Forex Brokers

With a plethora of new technology available to electronically and digitally check an identity or validity of documents, Forex brokers are taking steps to adopt such cutting-edge technology to improve their operations. Namely, having previously announced the upcoming launch of facial recognition technology implementation for Know your Customer procedures, broker ATFX has also announced they will be using Adobe Sign technology to accept digital signatures from customers.

ATFX expects to roll out the new digital signature technology to customers in South East Asia firm, followed by a global rollout. As indicated by FinanceFeeds, “the new electronic signature allows ATFX to minimise its carbon footprint given that the new service allows both ATFX and its clients to create and sign electronic documents without printing such documents, which is more eco-friendly”. The new technology will arguably also cut down processing time of KYC documents and also make it easier for customers to submit the required documents to open or make changes on trading accounts.

This is a great approach to ensuring document security and avoiding fraud, but also for improving the timeliness of operations and workflow. The added benefits to customers in South East Asia should be reviewed once the process is in place to quantify the impact of using such digital services.