Finmo by Lendesk is partnered with OneSpan.com as our third-party E-signing provider.
We have completed due diligence with all of the lenders available to submit from Finmo and confirmed that the OneSpan system is approved.
Scotiabank is the most submitted lender on the Finmo platform. We have confirmed with their management team and all of their Business Relationship Manager (BRM's) that this software program 'OneSpan' meets all of the necessary criteria for E-signing.
Scotia stated in May of 2020:
"We are also often asked which e-signature providers are acceptable, however, the bank does not maintain a list of approved providers. Instead, we can accept any reputable provider that meets the requirements outlined in our process document. The most common providers we see are OneSpan, DocuSign, AdobeSign, TMG Hurricane, M3 (white label service), Adobe Sign, Authentisign, Hellosign, etc. All of these services are acceptable."
Further, the Scotiabank message to its' Brokers and agents contained the following remarks:
Here’s some clarification around our e-signature policy, announced on May 26th to address some common issues:
The e-signature’s authenticity must be verified within Adobe’s “Signature Panel”.
The signature panel can be accessed in most versions of Adobe Acrobat via a blue bar that appears at the top of the page, or by clicking the ‘pen’ icon found on the left side panel.
If the signature panel does not appear, this means that no information about the signature is embedded in the document and we cannot accept it.
The file cannot be modified/altered once signed by the customer. This will trigger an error message (a signature is invalid). When this happens, please, resend the attachment file provided by the customer without extracting/editing pages in it.
Here is a screenshot sent from Stanley Grant a BRM in Vancouver B.C. in 2020 confirming their policy.
Scotia's current signature requirements
PAD & Commitment – can be signed in ink OR e-signed but must include a signature panel;
Purchase/Sale Agreements – can be signed in ink OR e-signed, with or without a signature panel;
Discharge Authorizations – preferably ink, as some institutions do not accept e-signatures;
Gift letter – must be signed in ink only, e-signs are not acceptable.
What is required when sending an esigned document
1. The e-signature’s authenticity must be verified within Adobe’s “Signature Panel”.
· The signature panel can be accessed in most versions of Adobe Acrobat via a blue bar that appears at the top of the page, or by clicking the ‘pen’ icon found on the left side panel.
· If the signature panel does not appear, this means that no information about the signature is embedded in the document and we cannot accept it.
Please, always send the original, from your signature provider portal (PAD or PAD with Commitment, etc), with e-signature authentication data embedded, not a ‘copy’ or the file which was merged with some other files
2. Some e-signature providers provide a companion document (often called “signing certificate”, “certificate of completion”, “evidence summary”, etc.)
· E-signature information can be embedded in this companion document instead of in the signed document itself (e.g. PAD Form), but it must include verification details in the signature panel. In other words, you may get an e-signed PAD form with no signature panel, but an accompanying document that has a signature panel and allows you to verify the signatures on the PAD. This is ok.
· If using the companion document for verification, ensure you can match it to the e-signed form through a common reference/ID Number.
Scotia cannot accept a companion document to verify the e-signature in place of the verification found in the signature panel. If neither the e-signed form or the companion document has signature authentication embedded (via the signature panel), do not accept the document.
The following screen shots show a PAD with no signature panel, but the companion document has the signature panel with all required information and it can be matched to the PAD document.
3. The file cannot be modified / altered once signed by the customer. This will trigger an error message (signature is invalid)
When this happens, please, resend the attachment file provided by the customer without extracting / editing pages in it.
Should you have any questions please click on the chat bubble for help.