Electronic signature revolutionizes Georgian banking

The era of cash receipts and daily papers has ended in Georgia, and from now, electronic signatures will be accepted at Georgian banks.

Banking in Georgia will become more efficient thanks to an electronic signature service, which launched in Georgia’s banking sector today.

Giorgi Kadagidze, President of the Georgia’s National Bank, put the first electronic signature to a document at ProCredit Bank Georgia today.

"Today, we signed a document electronically which has legal force. This will save costumers’ time and will provide more efficient bank operating at the same time,” Kadagizde said.

He thanked ProCredit Bank for its involvement in the innovative project and expressed his hope that the whole Georgian banking system will join the initiative by the end of the year.

Sascha Ternes, Director of ProCredit Bank Georgia, said along with other positive results, this new service would do well for the environment.

"Every day there is so much paper wasted by signing bank-related documents. An electronic system will save trees and moreover, a costumer will no longer have to keep a receipt,” he said.