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Remote signing of agreements in Bank Millennium’s corporate banking

09.04.2020

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Bank Millennium has launched the possibility for corporate banking customers to sign agreements fully remotely. Digital circulation of documents is based on qualified signature with qualified timestamp and applies to loan agreements and their collaterals, transactional banking, factoring, trade finance and treasury products.

- Due to the coronavirus situation, during last weeks we were strongly accelerating efforts to launch this solution. This is another stage in digitalising corporate banking customer service processes. I n this way we are providing remote and safe circulation of bank documents, making both parties free from problems with sending paper documents – Anna Gregorczyk, Director of the Corporate Banking Marketing Department in Bank Millennium, said.

This solution is available to all institutional customers and companies with annual sales above 5 million PLN. It enables digital circulation of documents required earlier in hard copy in the credit process, including legal collaterals agreements and also in transactional banking, factoring, trade finance and treasury products.

- In the new process documents are signed by the parties with qualified signature with qualified timestamp. Documents are exchanged with the Bank with use of the Millenet for Companies transactional banking system - Paweł Idzikowski, Head of Corporate Banking Products Team, Electronic Banking Department in Bank Millennium, added.

According to regulations, documents signed with electronic qualified signature are equivalent to written form, while the qualified timestamp is a service of dating documents and electronic signatures, which causes legal effects of certified date in the meaning of the Civil Code. Bank Millennium recommends purchasing this service from a provider from the Register of Trust Service Providers, kept by the National Bank of Poland, the list of which is on the website of National Certification Centre: http://www.nccert.pl.

- We are pleased with initial response of customers who were looking forward to the solution prepared by the bank. We are implementing it in a difficult period, with a view to providing an alternative documents circulation channel. However in line with the assumptions we had when opening the project, I am confident this solution will soon become the main method of concluding agreements - Agnieszka Kucharska, Head of Products and Credit Process Team in the Corporate Banking area in Bank Millennium.