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Why Should The Financial Services Industry Go Digital?


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In today’s digital world, paper documents are an obstacle to doing business. Financial institutions need solutions that offer bank-level security, regulatory compliance, operational efficiency, and a positive end-user experience. Learn more at:

Published in: Economy & Finance
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Why Should The Financial Services Industry Go Digital?

  1. 1. £126.9 billion in GVA Financial and insurance services contributed £126.9 billion in gross value added to the UK economy - 8.0% of the UK’s total GVA (1) SMS and MMS messages are sent on average per person per month (4) 117 International firms own businesses in UK financial services (3) +1,0001.1 million people Employed in the Financial Services industry (2) HOW IS MOBILE CONSUMPTION IN THE FINANCIAL SERVICES INDUSTRY EVOLVING? WHAT ARE THE CONSEQUENCES OF PAPER PROCESSES? DocuSign saves banks between £10 and £38 for every "envelope" that is digitally sent 50% cost reduction associated with electronic contracts compared to paper contracts +225,000 companies +85M USERS 188 countries 43 languages 85,000 new users added every day! of the Fortune 500 have used DocuSign90% of adults personally own/use a mobile phone in the UK (4) 93% of paper and cardboard consumed in 2014 (7) 9.3 million tonnes 45 sheets of paper is used on average per office worker per day, of which over half is considered waste (8) of all documents are lost (9) 7.5% of all documents are misfiled (9) 3.5% WHY SHOULD THE FINANCIAL SERVICES INDUSTRY GO DIGITAL? of processes are interrupted by the need to collect a physical signature, adding on average 3.1 days to most processes (10) 42% of UK financial services are printing documents just to get them signed (10) 90% 22.9 million banking apps downloaded (6) WWW.DOCUSIGN.CO.UK 895 million times customers will use mobile devices to check their current accounts. Up to 2.3 billion times by 2020 (5) Reduce Costs Save Time Digital Transaction Management is currently a £300 million market and will grow to 20 billion by YE 2020 Ranked #1 by Analysts (DocuSign garners number one rankings from leading analysts: Gartner, Forrester, Aragon Research, Ombud, among others) WHAT ARE THE BENEFITS OF A DIGITAL PROCESS? WHY SHOULD YOU USE DOCUSIGN? 50% of DocuSign documents are completed within 2 hours DocuSign is trusted by hundreds of financial institutions, including the largest banking and insurance companies Sources: (1) 'Financial Services: contribution to the UK economy' - UK Parliament. (2) 'Total tax contribution of UK financial services seventh edition' - The City of London Corporation. (3) 'UK Financial Services Industry Annual Review 2014' - IMAS. (4) 'Independent regulator and competition authority for the UK communications industries, Facts & Figures' - OFCOM. (5) 'Mobile phone apps become the UK’s number one way to bank' - The BBA. (6) 'The Way We Bank Now: World of change' - The BBA. (7) 'CPI Industry Facts' - Paper Org. (8) 'Green Office Guide' - WRAP. (9) PWC. (10) YouGov.