Introduction

The banking and financial industry probably has the most extensive documentation and paperwork of any industry. From customer contracts, loan agreements, and identity proof to onboarding documents and investment management, financial institutions go through a mountain of paperwork daily. At stake is the security of information and the validity of the contracts signed between individuals, financial institutions or organizations, and big banks, which keeps the economic wheel turning.

Financial paper trails are always messy, difficult to track, and only as safe as the cabinets stored in the buildings. Even when the paper is digitized, many financial institutions still operate in the old-fashioned way of printing documents in the physical form, getting the signature of the individual or the signing authority, scanning the signed copy, and uploading the digital documents. The process is cumbersome, wastes resources, and leaves the documents open to information leaks.

With eSign solutions in finance, such as Signeasy, it is possible to speed up financial paperwork that can take a few days to weeks to process. Now that most people have access to a smartphone, it is expected that a large number of signatures for financial transactions will occur on a mobile device. Signeasy is a safe, reliable, and easy-to-use platform that is set to make paperwork a breeze, whether on the web or mobile.

Why should financial intuitions switch to eSignatures?

Documentation and paperwork are the mainstay in the financial industry which takes up the bulk of time, effort, and resources. With Signeasy, you can:

Digitize the paper trails

Eliminate the outdated manual paperwork and go online. Nobody enjoys filling up paper forms as they are time-consuming, boring, and prone to errors. Manual papers are also prone to damage and loss, leading to wasted time or financial losses.

With eSignatures, you can eliminate manual paperwork to improve safety and reliability. The staff can speed up the processes and focus on tasks of higher value. Instead of printing, signing, and mailing physical documents, customers can have their transactions approved with the click of a button.

Eliminate errors in the signing process

Financial paperwork involves a lot of signatures and accurate form filling before approval. People frequently miss out on filling in critical information and leave signature spaces blank while submitting their forms. Such errors can slow the process and hold up other tasks until a resolution is found.

With Signeasy, you can eliminate such errors as the tool is designed to move forward only upon the correct filling of fields and information. It removes errors both on the side of the customers and the staff.

Delight customers with simplicity

Electronic paperwork ensures your customers can sign their documents from the comfort of their homes and any device. The process is smoother, faster, and free from errors, reducing the frustration of long waits and queues.

Not having to wrestle with papers means your customers are more at ease and delighted with the process. Onboarding new customers also becomes easier as the process is more streamlined and can be performed remotely without making multiple trips to the office.

Increase security and build trust

Confidentiality is of the highest importance in the finance industry. With Signeasy, you can ensure a robust chain of custody of sensitive documents and prevent their accidental leaks or exposure. The ESIGN Act (US) and eIDAS (EU) compliance of Signeasy also ensure that your signature is as legally valid as a handwritten signature.

Maintain a solid audit trail of all consent forms and agreements so your financial practice is free from fraud. Whether the transaction is with an individual customer or a large organization, it is essential to maintain critical paperwork in one place securely.

Improve the efficiency of operations

Having electronic paperwork ensures your turn-around times are much faster. Without physical records to manage, your operation teams are free to onboard more customers quickly and improve customer experience.

Signeasy’s seamless integration with other applications such as Google Drive, Gmail, and DropBox, along with CRM and ERP platforms, ensures smooth import and export of documents between various apps.

Maintain robust document tracking

Losing documents you’ve filled, signed, and sent on time is a bad experience that costs you expensive delays or missed opportunities. With electronic paper, there is no chance of losing important documents, and you can ensure it reaches their destination on time.

With Signeasy, you can have multiple parties sign the document at a time and know the activity history on the document. Track the progress and know the stage at which the document is at all times.

Best use cases of Signeasy

Financial institutions can use Signeasy in a number of instances, such as:

• Loan applications
• Asset transfers
• Trade confirmations
• Audit sign off
• Redemption requests
• Change of beneficiary forms
• Authority delegation
• Capital call letters from PE, VC

Conclusion

The financial industry is keeping up with the trends to go digital for the increased security and simplicity it brings to all processes: banks and asset management firms trust Signeasy and financial consultants worldwide to handle their sensitive documents. If you work in a financial organization that hasn’t yet adopted eSigning, this is your opportunity to improve your workflow and bring an added layer of security.

Request a demo today and learn how you can benefit from the future of document signing and paperwork in the banking and finance industry.