Electronic signature for banks and fintechs

The banking sector is one of the most regulated in Europe when it comes to electronic signature and consumer protection. A bank, neobank or fintech wishing to digitize its signature processes (account opening, mortgage loan, consumer credit, account agreement, SEPA mandate) must simultaneously comply with four regulatory frameworks:

• MiFID II (Markets in Financial Instruments Directive II, applicable since 2018): requires the retention of communications preceding any offer of a financial instrument and justification of the advice given. The electronic signature of an investment contract must be traceable to these records.
• PSD2 (Payment Services Directive 2, transposed into French law in 2018): requires strong authentication (SCA — Strong Customer Authentication) for payment transactions and account access. eIDAS's AES and QES levels are SCA-compliant, whereas SES is not.
• AML / KYC (anti-money laundering, French Monetary and Financial Code art. L561-1 et seq.): requires verification of the customer's identity (face-to-face or equivalent), retention of supporting documents for 5 years after the end of the relationship, and reporting to TRACFIN in case of suspicion. Video identification has been explicitly authorized by the ACPR since 2017 and is compatible with an advanced electronic signature.
• GDPR + banking secrecy: combination of the European regulation on personal data and French banking secrecy (Monetary and Financial Code art. L511-33). All processing activities must be documented, subcontractors governed by a DPA, and financial data encrypted at rest and in transit.

This article details the eIDAS signature levels suited to each banking use case, the obligations specific to different products (accounts, loans, life insurance), and the procedure for integrating them into a customer journey compliant with supervisory requirements (ACPR for banking, AMF for financial instruments).

A particularly regulated sector

Banks and fintechs handle documents subject to the strictest traceability and identification requirements on the market: account opening, loans, SEPA mandates, various authorizations. Electronic signature has become a standard here, with specific KYC requirements.

Commonly signed documents

• Account opening (account agreement, terms of use)
• Loan offer (mortgage, consumer, business)
• SEPA mandate (direct debit)
• Savings contracts (savings accounts, PEL, CEL)
• Online transactions (transfers, bank details changes, account closure)
• Banking power of attorney
• Business agreements (leasing, factoring)

Recommended level

• Account opening: AES minimum, often supplemented with video KYC
• Mortgage loan: AES mandatory, QES for certain notarial formalities
• SEPA mandate: SES may suffice, AES recommended

ACPR and AML/CFT compliance

Banks are subject to AML/CFT regulations (anti-money laundering) which require enhanced KYC :

• identity document verification
• liveness test
• cross-checking against sanctions lists (PEP, EU, OFAC)
• 10-year retention of documents

The electronic signature must integrate with the KYC process without degrading the customer experience.

Benefits

• 100% online account opening in 10 minutes
• Fast loan approval: offer signed within 24 hours instead of 2 weeks
• Reduced operational costs: no registered mail, no physical filing
• Audit compliance: fully exportable traceability

Common mistakes

• Neglecting the liveness test in KYC
• Failing to archive identity documents in compliance with GDPR
• Using a non-EU platform for sensitive data
• Losing traceability when changing providers

Real-world case: neobank

A neobank opens 500 accounts per day. Fully digital journey:

1. Entering personal information
2. Uploading identity document + proof of address
3. Liveness test (dynamic selfie)
4. Cross-checking against sanctions lists
5. Signing the account agreement + SEPA mandate with an advanced electronic signature
6. Card sent within 48 hours

Average sign-up time: 8 minutes. Drop-off rate: <15%.

How Certyneo helps

Certyneo offers a solution for banks and fintechs: AES by default, full video KYC integration (identity document OCR, liveness, sanctions screening), compliance with ACPR and AML/CFT requirements, 100% EU hosting with no Cloud Act dependency, 10-year archiving, webhooks for IT system integration.

Discover the Certyneo electronic signature solution

FAQ

Can a credit offer be signed with a simple electronic signature?

No, AES minimum. The French Consumer Code requires strong identification.

Does the withdrawal period apply?

Yes, 14 days for consumer credit, 10 days for a mortgage loan (from receipt of the offer).

Can minors open an account electronically?

With co-signature from a legal guardian.

Retention period?

10 years for banking documents, 30 years for certain deeds.

Does the signature protect against fraud?

It significantly reduces risks through strong authentication, without eliminating them entirely. Vigilance against fraud (phishing, KYC deepfakes) remains necessary.

Conclusion

Electronic signature is a pillar of digital banking: fast onboarding, smooth KYC, native ACPR compliance. Banks that master it dominate customer acquisition.

Try Certyneo to send, sign and track your documents online simply, quickly and securely.