In recent years, electronic signatures have gone from being an innovation to becoming an essential tool across many fields—especially in the financial sector. Today in Chile, digital signatures have become a key resource for streamlining processes and offering a modern, secure, and efficient experience for both institutions and their clients.
However, to maximize their potential, two fundamental aspects need to advance: electronic signatures must be accepted for all relevant documents, and financial institutions should allow the use of different certified platforms, without restricting clients to their own preferred providers.
One of the most common challenges arises when a client needs to sign multiple documents. Ideally, all of them should be eligible for electronic signatures. When this isn’t the case, and some still require a physical signature, processes are interrupted, leading to delays and complications. This is common in the industry, where many institutions only consider Advanced Electronic Signatures (FEA) valid for certain documents, while others still require handwritten signatures—sometimes even insisting on the presence of an executive or a specific ink color. While these practices lack legal backing, they persist due to deeply rooted cultural habits, making true digitalization of processes more difficult.
Another frequent issue is that even when a document is properly signed with FEA, some institutions won’t accept it if it doesn’t come from a company they’ve previously integrated with. This forces clients to repeat steps and adds unnecessary bureaucracy.
The major challenge, therefore, is for financial institutions to reach an agreement that allows electronic signatures to be accepted for all required documents, while also being open to signatures made through various certified platforms, without internal restrictions. Only then can we move meaningfully toward a truly digital, integrated, and efficient ecosystem that benefits both institutions and end users.