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Digital Signatures

If you don’t offer digital signatures, you can bet your competition will!
The benefits of digital signatures in any document signing process are numerous. Digital signature software can provide you with an accurate, quick and seamless document process that is convenient for both you and your client. You will gain productivity which means increased profits. You’ll offer convenience which means increased customer base.
Using digital signatures is the ultimate in flexibility and convenience.

Hassle free signing!

Complete contracts, transactions, loans, applications and more anytime, anywhere – in the branch or online. Producing documents electronically eliminates the need to print, fax, mail and courier use. Since the e-sign act, digital signatures are considered as legal, compliant and enforceable as pen & paper signed documents.
How digital signatures help financial institutions. Ensured compliance, data protection, and an audit trail are a few of helpful benefits. No misplaced faxes, no papers lost in transit, no misfiling and increased document security.

Simply workflow
Workflow steps are shortened and simplified:

1. Upload documents (scan, virtual print or retrieve from electronic library).
2. Add in all signers (names and email addresses) and indicate signing order.
3. Indicate signature spots (or apply a template to frequently used documents).
4. Indicate if extra items need to be attached (i.e. driver’s license) and click to send email packet.
5. Signer receives a secure link and pin (pin in an email or pin text to phone)
6. Signer opens documents and signs (uploads any extra items requested).

Document is automatically routed to next signer or back to your institution. Incomplete paperwork is a thing of the past –Signer will be if there are missing signatures or items and document cannot be sent back until complete. Notification is received when document is complete and sent back. Turnaround time from start to finish can be minutes instead of days or weeks. Software is inexpensive, easy to use and administer.

Save money, cut costs, increase productivity and improve client satisfaction.

Use digital forms with electronic signatures and instantly cut costs by eliminating: printing, copying, postage, storage and disposal. Less materials are used to produce documents and there’s reduced wear and tear on equipment. Store documents electronically and re-purpose space previously used by filing cabinets. The convenience and speed increase client satisfaction. Faster turnaround times means increased efficiency, resulting in more time for production. An automated process can result in 99% faster revenue, savings, improved cash flow resulting in profitability – A statistic that is hard to ignore!

How financial institutions are currently using digital signatures

Any form at all that requires a signature. Examples include: opening accounts, credit card applications, disclosures, loans, student loan applications, auto financing/refinancing, investment products, e-mortgage, credit applications, contracts and more. If you have forms that require signatures they can be converted to electronic forms that use digital signatures. Anything that previously required the client to be physically present to sign can now be completed from any device that connects to the internet.
Attract new clients.

It’s simple and obvious. When looking which institution to use clients will consider rates, fees, efficiency and most important convenience. Electronic forms and digital signatures are the ultimate convenience and could be deciding factor as to whether or not they choose you. With all these benefits – is there a reason you are not offering them to your clients now?

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About the Author

Neal Doshi, Complete Data Products (CDP)
5755 New King
Troy, MI 48098

Contact Author: request info

If you would like to re-print this article, please contact the author.
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