3 start-up organizations may find themselves using digital signatures that are unverifiable 4 or information systems that have no technical support. While standards and best-use policies 5 are being developed and integrated into information system products, banks should perform a thorough due diligence on any vendor marketing a digital signature solution. Implementing the use of digital signatures requires adopting a new or augmented set of technologies, services and bank policies. When a bank decides to implement digital signatures, the bank must also implement digital documents 6 and the associated requirements for, among other things, document management, storage, access security, periodic hardware upgrades, and disaster recovery facilities. Further, the implementing bank could incur additional expenses as a result of the need for more staff in the form of new technology-management positions.
Some banks never destroy old loan documents.
Once the bank decides to implement digital signatures, the bank has made a strategic decision to maintain digital records and service digital documents. Maintaining digital documents will require new policies and procedures, and introduce new complexities pertaining to system upgrades and information conversions. If digital documents are used, customers will need reasonable access to those documents. Additionally, if a bank chooses to implement remote access to digital documents, the bank may need to establish a secure information area that allows customers access. A bank can operate a CA service for its customers.