We understand that it may seem cumbersome for all board members to sign digitally every time there are changes that need to be reported to the bank. However, there are two good reasons for this:
Democratic process
When all board members sign, it ensures that a democratic process has been followed within the board. Of course, you have already reached an agreement and followed the democratic process in accordance with your bylaws during your physical meetings. But by having everyone sign digitally, you also ensure that the process is formally documented. This prevents any single board member from having unchecked authority and guarantees that all voices are heard.
Security
The reason for these reports is that, according to regulations from the Danish Financial Supervisory Authority, banks are required to closely monitor their customers. Unioo’s platform is designed to make collecting the necessary data both easier and more secure. We are Denmark’s leading provider of digital security for online data collection and processing. So while the process may seem tedious to some, the alternative is often more time-consuming, complicated, and sometimes even more expensive.