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Established limited company - no paper

As I plan to step down from full time employment at Tieto, but will continue as advisor in various projects I needed to establish a company of my own. Yesterday I thus logged in with my e-bank credentials to the Finnish Trade Registry and completed the needed handily presented information, signed it with my e-bank credentials and sent a signing request to the other shareholders.

They signed with their own e-banking credentials (also unbanked persons can have them) and I had our company registered and corporate register number issued by return. Easy as that โ€“ no paper โ€“ no delays!

So my next thought was: Why on earth is not all contract signing etc done in the same way? Much is โ€“ but not all. Pure intertia..

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Comments: (2)

Ketharaman Swaminathan
Ketharaman Swaminathan - GTM360 Marketing Solutions - Pune 15 February, 2013, 18:41Be the first to give this comment the thumbs up 0 likes

As you rightly point out, many contracts are signed digitally. However, there's more than just inertia to explain why adoption for e-signed contracts is not anywhere close to 100%. In the case of paper-based contracts, both parties to the contract can easily verify authenticity of a contract by spotting or not spotting wet-ink signature. With e-contracts, due to expired SSL keys or other technical reasons, I've received many of them with the marking "signature invalid". I'm never sure how many of them will survive a dispute, if and when one arises! 

Bo Harald
Bo Harald - Transmeri, Demos, Real Time Economy Program,MyData - Helsinki Region 16 February, 2013, 11:00Be the first to give this comment the thumbs up 0 likes By using bank sign on codes this is not a problem. Signing transaction in the log as all other actions have to be. Just reuse e-banking and relax.
Bo Harald

Bo Harald

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Transmeri, Demos, Real Time Economy Program,MyData

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This post is from a series of posts in the group:

Innovation in Financial Services

A discussion of trends in innovation management within financial institutions, and the key processes, technology and cultural shifts driving innovation.


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