Regula and CacaoTech streamline document signing in Ecuador

Regula and CacaoTech have partnered to streamline the document signing process in Ecuador’s private severance fund, Fondo de Cesantía de la CTE.

CacaoTech partnered with Fondo de Cesantía de la CTE to transform its documentation process by shifting to digital interactions.

Regula & CacaoTech

Previously, applicants had to visit the fund’s offices for document signing, which limited access.

To address this, CacaoTech introduced remote identity verification and facial recognition through the BioTech Validator, now integrated into the Fondo Fácil app, enhancing user experience and efficiency.

As a core technology for its solution, CacaoTech chose a complete identity verification (IDV) solution from Regula: Regula Document Reader SDK and Regula Face SDK.

This partnership has allowed for both document and biometric (facial) verification, making the process entirely digital, remote and secure.

“Enhancing the experience”

Ihar Kliashchou, Chief Technology Officer, Regula commented: “We are proud to support the digital transformation of Fondo de Cesantía de la CTE.

“Our ID verification solutions empower organisations to offer secure, fully remote services while enhancing the experience of people using the severance fund.

“This project highlights how technology can simplify complex processes, mitigate fraud risks and save both time and money.”

“We are pleased to receive positive feedback from our participants who now use our Fondo Fácil application and attest to the improvement of our services and 100% digitalisation from anywhere in Ecuador,” added Emilio Legarda, Chief Executive Officer at Fondo de Cesantía de la CTE.

“We will continue working to implement cutting-edge technology.”