In today’s economic climate it is essential to improve operational efficiency and seek for cost cutting potentials. On the other hand, the customer is the core of all financial and banking transactions, therefore having a competitive advantage in customer experience is key for getting more business. By embedding xyzmo SIGNificant’s signature solutions, financial institutions add digital signature capabilities to their existing infrastructure, closing the gap in going fully paperless by completely eliminating the need to print documents for signing.
COMPUTER 10: Lesson 7 - File Storage and Online Collaboration
The paperless bank – a new reality
1. The Paperless Bank
White Paper
The Paperless Bank – A New Reality
In today’s economic climate it is
essential to improve operational
efficiency and seek for cost
cutting potentials. On the other
hand, the customer is the core
of all financial and banking transactions, therefore having a competitive advantage in
customer experience is key for getting more business. By embedding xyzmo
SIGNificant’s signature solutions, financial institutions add digital signature capabilities to
their existing infrastructure, closing the gap in going fully paperless by completely
eliminating the need to print documents for signing. Verification of the
authenticity/integrity of the documents and storage problems will no longer be an issue.
In addition the straight-through processing of forms and
documents reduces errors and enables fast access to electronic
documents for auditing purposes.
Most of the banks have already implemented sophisticated
document management and core banking solutions, so thanks to
the complete signature solutions from xyzmo SIGNificant it is very
easy and convenient to enhance their existing infrastructure with
all the necessary functionalities for a total paperless process.
These signature solutions replace the concept of traditional paper-based signing with an
electronic one and solve the challenge of signing electronic documents securely, while
simultaneously reducing the costs and labor associated with paper-based processes.
Signing the original electronic document saves companies on labor, faxing, mailing and
archiving costs. Lost documents or missing signatures are a thing of the past, as after
the signing process ends, all documents are immediately available for archiving or
further processing. Additionally, digital signatures safeguard electronic documents and
files by allowing the authentication of the signatory and verification of the original
document. Last but not least the usage of electronic signatures dramatically increases
the efficiency of sales staffs and reduces processing times, leaving more time for
up/cross selling.
A simple process with great benefits!
By embedding the xyzmo SIGNificant signature solution, all financial processes are fully
digitized. Forms can be completed automatically with important information, simply by
2. The Paperless Bank
White Paper
scanning or sweeping the customer’s credit card or driver’s license, while any additional
required data can be captured via a soft keyboard. The agreements are signed and
sealed electronically and can be automatically sent to the customer using the provided
email address. This simple, intuitive solution which is easy to integrate in any IT
environment and easily accepted by customers, offers financial institutions the benefits
of a secure, electronic environment.
These secure signature solutions are a perfect fit for various financial procedures such
as account openings, withdrawals, loan origination, issuing policies, signing application
forms and authorizing transactions. Beyond the possibility of capturing a handwritten
signature by using a broad range of signature capturing devices from various
manufacturers, also smart-cards, tokens and
software certificates are supported. In addition,
xyzmo SIGNificant’s solutions enable a real-time
biometric signature comparison replacing the old
fashioned “signature cards” (cards signed by the
financial institution’s customer when opening an
account in order to identify him when performing
actions in his account). This real-time biometric
verification is done by comparing the recorded
parameters of the customer’s handwritten signatures against his pre-enrolled profile. The
possibility of a detailed protocol of each signature relevant action makes it a total
solution, thus documents are only processed if their signers were authenticated and
companies can prove who signed which document and when it was signed.
End Customers worldwide embrace our solution with enthusiasm, as embedding a
handwritten electronic signature requires no changes in customers’ habits. The
customers continue to sign like they always did, but with a distinct advantage of an
improved experience, thanks to reduced waiting times and the convenience of remote
and secured document handling.
To learn more about xyzmo SIGNificant’s solutions, please visit: www.xyzmo.com