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The law also provides that records of Efficient esignature solutions commerce (such as contracts, mortgages and financial securities) may be stored electronically, rather than in paper form, effective March 1, 2001. An electronic signature is a string of code that uniquely identifies a customer, whose signature can be verified by various methods. These include downloading or installing signature software on a computer through which personal information (such as a social security number) is entered; utilizing a "smart card" which can store digital information about the signer; using digital verification services; scanning handwritten signatures; and even through the use of biometrics, which are fingerprint or optical scans, Efficient esignature solutions.

Efficient esignature solutions, This may in part reflect slow movement into fully online banking and lending, resulting in a lag in litigation that produces reported decisions.

Efficient esignature solutions, It also may be a result of the widespread use of arbitration clauses by financial institutions. A cost of using private dispute resolution is a lack of court interpretations available to the legal community and the public. Although some financial institutions, particularly large ones, have made the investments in legal planning and technical infrastructure, others have hesitated to take the plunge into the world of paperless (or nearly so) consumer financial services during this period of uncertainty, Efficient esignature solutions. This Article addresses the difficult issues in e-disclosure, providing a short guide to counsel for financial institutions. Counsel should be involved from the very beginning of planning the process of moving consumer financial services online. It is much easier and cheaper to build in legal compliance during web design than to go back later and try to add it, Efficient esignature solutions.

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