Wells Fargo is to offer customers a new digital signature solution to create legally binding electronic documents that could be used in letter of credit (L/C) documentation.

To provide this service, the bank will employ a system developed by the bank in association with Adobe, the producers of Portable Document Format (PDF) documents and Identrus, the developer of certificates to verify the origin and integrity of documents in online contexts.

Successful pilot

The service will utilise Identrus SimpleSign (SM), a new type of PDF that gives all Identrus certificate holders the ability to digitally sign PDF documents using their Identrus certificate, SM software, and the free Adobe Reader.

Following an apparently successful pilot programme, Wells Fargo plans to deploy and support SM across its multinational line of businesses.

Advantages

Developed by Identrus and Adobe, SM enables the advanced digital signing features in Adobe Acrobat to use Identrus certificates to verify the origin and integrity of documents, providing easy-to-use document signing via a simple point and click according to the developers.

SM claims to eliminate some document frauds, control and track document changes, and perform encryption and decryption functions using Identrus utility certificates.

Secure online environment

The aim of the new service is to provide a secure online environment in which the bank and its customers can sign PDF documents with digital signatures, creating legally binding digital documents such as loan origination forms and L/Cs.

The developers of the system claim that the combination of Adobe and Identrus will provide customers with the assurance that their documents have not been altered and that they are from the source from which they claim to be.

This article represents the views of the author and not necessarily those of the ICC or any of the other partners in DC-PRO.