The objective of e-mandates is to replace paper in the Mandate process, while the Direct Debit collection process remains the same, as in the current SDD scheme defined in the EPC Rulebooks.
To sign a mandate electronically, different approaches exist. They can be categorized in two categories :
- Two corner model : the electronic signature is arranged between the debtor and the creditor, without any involvement of the debtor's bank. Different approaches enable to authenticate the debtor.
- Four corner model : the debtor bank checks the debtor's identity, and its power of attorney.
E-mandates become possible as electronic signatures are recognised by national and european authorities. To meet various security levels, Sentenial offers a scalable solution, Origix E-mandate. It is build around a framework allowing a suitable range of security options available to creditors.
It is thought that the technology around proving the identity of people is undergoing change at the moment and thus new options suitable for incorporation in the mandate process may well become generally accepted in the near future. A framework approach allows Sentenial to add any such developments to the process as they become viable.