Benefits of digital signatures for the financial sector

Posted by Emily Maxie

In some ways the financial sector faces many of the same challenges as other industries. Customers want everything instantly without sacrificing quality. Businesses of all sizes and types are scrambling to meet customer demands by adding new technology.

digital signature for the financial industryBut if you work in the financial industry it’s not that simple. Your business relies on its reputation for security, and every new product or technology that you use will affect your reputation in a good or bad way. You have to balance security, cost and convenience to offer your customers a product you believe in. After all, if you have a security breech, your reputation is on the line.

Luckily you don’t have to sacrifice convenience for the sake of security. Digital signatures offer customers an easy way to sign documents online while also giving you even more security than a paper and ink signature. Digital signature products can be customized to meet your needs and give you a more efficient and convenient option for doing business instantly and securely. Here are some of the benefits of digital signatures:

    • Faster turnaround for transactions
    • Increased transaction security
    • Reduced opportunity for fraud
    • Automated processing through reduced or eliminated paperwork
    • Immediate access to documents for collaboration and execution
    • Increased value to current and new customers
    • Technology that complies with international digital signature standards

Each and every customer is at the core of financial transactions, so having a competitive advantage in the customer experience is key to getting new customers. Some of the processes that can be automated through digital signature products include:

    • Account Opening
    • Signature Cards
    • Standing Orders
    • Exemption Orders
    • Loan Documents
    • Investments
    • Mortgage Origination & Closing
    • Other contracts, support materials like appraisals, disclosures and employment verification

So what are you waiting for? To learn more about the different types of digital signatures, download your free digital copy of our white paper “The difference between digital signatures and electronic signatures.” 

download our white paper on the differences between digital signatures and electronic signatures

Filed Under:

credit unions

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