According to Nationwide, the signature verification system has
been developed over the past two years. It involves electronic pads
which sample a signature 200 times a second, capturing data such as
the position of the stylus and the pressure exerted on the pad.
The pads also record the physical characteristics of the
signature and the overall time taken to complete it.
Nationwide says the system will provide a more robust method of
verifying a customer's identity than current visual checks of
signatures. This is because most forgers only have access to the
physical shape of a signature, mainly by finding a receipt or a
stolen card. They cannot copy physical characteristics such as the
pressure or the speed used during the signing.
The company also believes the system will reduce paper use and
improve efficiency by eliminating filing and retrieval systems.
The installation of the biometric devices is currently at phase
two of a three-phase programme. Phase one of the project, allowing
signatures imaged to be viewed on screen by customer advisors was
completed in August 2001. The signatures are currently being
embedded into electronic documents to allow storage and automated
verification. The installation of the biometric devices is
scheduled to start during the first quarter of 2003.
Nationwide said in its statement that the signatures will be
legally binding.
