17 January 2018
Bo Harald

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Bo Harald - ZEF, Transmeri, Demos, Real Time Economy Program

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Innovation in Financial Services

Innovation in Financial Services

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

Established limited company - no paper

13 February 2013  |  3573 views  |  1

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 – no paper – no delays!

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

TagsMobile & onlineInnovation

Comments: (2)

Ketharaman Swaminathan
Ketharaman Swaminathan - GTM360 Marketing Solutions - Pune | 15 February, 2013, 18:41

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! 

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Bo Harald
Bo Harald - ZEF, Transmeri, Demos, Real Time Economy Program - Helsinki Region | 16 February, 2013, 11:00 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.
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job title Chairman/Founding member
location Helsinki Region
member since 2008
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