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Retired Member

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Snail mail and fax- two big risks

07 April 2011  |  4539 views  |  1

If I send snail mail, I have four worries. One is did other party get it? Second is did he read it. Thirdly did he send me letter back and did I get it. Finally, do I really know that signature I get it is real. Same goes for fax. Still many banks and other organizations do send lot of documents as paper format. They don't see any risks. 

But when it comes to email or electronic date sending, there are several risks. I assume one reason is that snail mail and faxes has been around several years but new technology is like its name says: new. 

I would like to know how do your company send documents? And especially do you plan to make this old fashion paper sending habit obsolete?

It is not e-invoices, but order confirmations, agreements, contracts etc.

TagsRisk & regulationRetail banking

Comments: (2)

A Finextra member
A Finextra member | 07 April, 2011, 20:11

Electronic signatures became legal in the UK a long time ago and did away with lots of paper. Its not the same in plenty of countries though and the cause of mountains of paper.

Electronic invoicing is already available and there are plenty of electronic confirmation services. I think this problem will soon go away and we will wonder why did we ever bother with paper? 

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A Finextra member
A Finextra member | 08 April, 2011, 08:25

Thanks Gary for comment. How do UK companies/ private persons sign online. Do they use credit card as identity back up system or IP address like in States or something else?

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