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#2167969 - 03/13/18 09:15 PM Docusign on Signature Card
soundbank Offline
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Joined: Mar 2012
Posts: 44
Has anyone ever seen this? How can this be upheld? How do you verify the signature on a wire form?

Any comments are much appreciated.

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Audit
#2167972 - 03/13/18 09:19 PM Re: Docusign on Signature Card soundbank
rlcarey Offline
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rlcarey
Joined: Jul 2001
Posts: 83,219
Galveston, TX
Not sure to what you are referring too? You mean an agreement to open an account that is signed electronically?

Unless you employ handwriting experts, I'm not sure what that has to do with wire transfer orders.
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#2167974 - 03/13/18 09:28 PM Re: Docusign on Signature Card rlcarey
soundbank Offline
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Joined: Mar 2012
Posts: 44
Yes I was thinking of:
1) Customer opens account using docusign to sign the signature card with a default font
2) At some point later customer mails/emails/faxes in wire instructions to send an outgoing wire.
3) Bank employee follows protocol to check the signature card against the signature on the completed wire form - how would they do this?

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#2167975 - 03/13/18 09:31 PM Re: Docusign on Signature Card soundbank
rlcarey Offline
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rlcarey
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Galveston, TX
If you are doing wires based on that, then your signature card is not your problem, it is your wire procedures. Unless you have additional commercially reasonable security procedures in place, you are going to be on the hook for the wire whether the signature matches or not.
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#2167979 - 03/13/18 09:54 PM Re: Docusign on Signature Card soundbank
KPAP Offline
Member
Joined: Dec 2014
Posts: 59
Midwest
FWIW-We use a call back system when wires are requested via mail/email/fax. Voice recognition is our additional security procedure, so the customer has to be well known by an Officer at the bank who will call them to verify the wire was in fact requested and is not fraudulent. If an Officer at the bank is not familiar with the customer then we require them to come into the bank to initiate the wire and provide proper identification. Similar procedures may want to be considered. We also utilize Docusign for opening accounts online, but like Randy said, the signature on the signature card isn't the concern, it's how you verify the wire requests.

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#2167983 - 03/13/18 10:11 PM Re: Docusign on Signature Card KPAP
soundbank Offline
Junior Member
Joined: Mar 2012
Posts: 44
Thanks for the responses - yes we have the call back procedures as well - I didn't give a good example. I am just trying to get comfortable with Docusign.

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#2174072 - 04/18/18 05:01 PM Re: Docusign on Signature Card KPAP
BSAguy Offline
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Joined: Aug 2007
Posts: 298
Kansas
How did you get comfortable that Docusign meets the "demonstrable consent" requirement of ESIGN? I haven't been able to find that they meet this requirement.

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#2178417 - 05/16/18 08:12 PM Re: Docusign on Signature Card BSAguy
Whyisit Offline
Member
Joined: Nov 2004
Posts: 59
Bringing this up again - I do not see how they are doing it either, but management says if other banks are doing it, it's OK

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#2178425 - 05/16/18 08:31 PM Re: Docusign on Signature Card soundbank
rlcarey Offline
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rlcarey
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Posts: 83,219
Galveston, TX
If you are talking about DocuSign, they comply with E-Sign. Heck, they just went public for $4.4 Billion and are an industry standard.
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#2178498 - 05/17/18 01:51 PM Re: Docusign on Signature Card rlcarey
Whyisit Offline
Member
Joined: Nov 2004
Posts: 59
I'm just trying to understand how after always using Richard Insley as guidance - at the minimum, it doesn't require me opening up the esign disclosure before I can accept?

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#2178508 - 05/17/18 02:27 PM Re: Docusign on Signature Card soundbank
rlcarey Offline
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rlcarey
Joined: Jul 2001
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Galveston, TX
The agreement is provided via a link with a caption that says: Please read the Electronic Records and Signature Disclosure. Below the link, is a check box that indicates: I agree to use electronic records and signatures. The law says: the consumer, prior to consenting, is provided with a clear and conspicuous statement.

It is provided.

This is along with a display of the first page of the documents being delivered. The consent required is: consents electronically, or confirms his or her consent electronically, in a manner that reasonably demonstrates that the consumer can access information in the electronic form that will be used to provide the information that is the subject of the consent.

There is no requirement that the electronic consent has to include proving that they opened the agreement. Even if they opened it, it doesn't prove that they read it. It only has to be provided.
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