E-Sign for Finance
Secure and fraud free transactions make electronic signatures a perfect solution for the finance industry. E-Sign provides an advanced electronic signature solution which can be used for multiple financial processes ranging from the opening of accounts to loan and mortgage applications.
Improve customer experience
Allow your customers to esign documents in order to open new accounts and finalise loan applications at their convenience. E-Sign helps to create efficiencies and streamlining processes providing customers with a modern digital experience they expect.
Secure and compliant financial documents
E-Sign employs world-class security (ISO 27001compliant) within its advanced electronic signature solution, offering secure email and secure document storage as standard. Any business documents completed within E-Sign are tamper-proof and are deemed as legally binding contract terms in a court of law.
Reduction in document NIGO rate
Reduce your financial document error rate by up to 90% as E-Sign’s intuitive system validates your electronic signatures to ensure they are compliant.
90% of customers chose electronic signatures over paper when given the option, while opening a
new deposit account or managing an existing account
One lender in the U.S. introduced electronic signatures at the peak of the loan season and instantly
secured a 99.9% adoption rate in 2014
Electronic signatures reduced the application process from over a week to 24-48 hours where it
also simplified the work-flow by 3/4
75% reduction in document errors
0% NIGO rate (not-in-good-order) over a six-month period of an e-signature trial
Banks found they could reduce the mortgage process from 45-55 days, down to just 20 where
they removed the 7-10 day application process with the use of electronic signatures
Decreased courier costs by 80%
Creating a paperless work environment reduces document handling costs by 80%
- Signing off audits
- Loan applications
- NDA agreements
- Investment funds
- Credit card applications
- Terms and conditions
Electronic signature case study - Royal Bank of Canada
This study showed that 8,000 wealth management and investment advisors implemented electronic
signatures to finalise mutual fund, GIC and other investment transactions which resulted in a saving of $8
million. This saving translated to shaving 82,000 staff hours which is the equivalent of 41 full-time
employees, where they also reduced document errors by 75%.
Some banks have reduced their costs by 85% through mailing and transportation costs while the
elimination of manual processes can result in 70-80% improved efficiencies and finally, more than 50%
of the non-electronic signature applications require rework due to missing information or an incomplete
form. On a final note, some banks which have chosen to introduce electronic signatures on applications
forms have experienced a reduced turnaround time from weeks to hours, shipping costs have been reduced by 80% and importantly, error rates have been reduced to less than 5%.
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