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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
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

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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