Giorgi Kadagidze Attended the Presentation of E-Signature Project in the Bank “Republic”

On December 11, Giorgi Kadagidze, Governor of the National Bank of Georgia attended the introduction of the E-Signature project in the head office of the Bank “Republic” and launched the first electronic signature in the bank.

The Bank "Republic" is the second commercial bank in Georgia which joined the initiative of the National Bank of Georgia. By implementing this new service the bank gives a unique opportunity to their clients to sign certain banking operations electronically instead of signing on paper.

It must be noted that the Bank "Republic" is the first bank in the Georgian banking sector which will offer the electronic signature its customers on the credit agreements as well along with the other banking operations.

The bank is aiming at making e-signature available for other banking products and services which will significantly improve the customers’ service quality and promote the development of modern technologies in the banking sector.

"First of all, I would like to say that it is not only cancellation of paper operations and making a signature on a so called "smart pad", this simplifies the whole business process which has three main advantages. The first is that the new business processes reduce bank transaction costs significantly, which ultimately cuts into commission fees on various services. The second advantage is that it makes possible to provide banking services in the regions with small population without branches. This will increase the accessibility to banking services in the regions and our citizens who had to use services of the microfinance organizations only from now on they will be able to receive banking services. Finally it will reduce the time of service for a customer which is very comfortable for clients. Therefore this new business process and initiative are very important. I would like to congratulate the Bank "Republic" and all its employees on implementation of this project and note that today’s event is one more step forward to further development of e-signature  project", – Giorgi Kadagidze stated.