Banking and E-Signature Trends
Economic pressures, regulatory oversight and shifting customer expectations have permanently changed the financial services industry. Banks, credit unions, mortgage lenders and retail finance companies are now challenged with balancing cost reduction against new investments in innovation to better capture, service and support the modern customer. In the midst of this transformation, financial service providers are more concerned than ever with meeting compliance requirements dictated by Gramm-Leach-Bliley, Dodd-Frank and other laws.
Amidst these challenges, the trend towards straight through processing is clear: financial organizations of all sizes are moving more and more of their customer transactions onto the web. Banks are using e-signatures (electronic and digital signatures) to create a completely electronic transaction model that is compliant, secure and enforceable. In fact, e-signature adoption has grown 48 percent in the last 18 months, according to Gartner. In Silanisí experience, the number of e-signature RFPs issued by banks has quadrupled Ė and all for enterprise solutions that:
- Improve customer experience and satisfaction
- Increase revenue potential
- Provide control over and visibility into processes/transactions
- Improve efficiency and reduce back-office costs
- Dramatically shorten the business transaction cycle
- Mitigate risk by strengthening legal and compliance position
- Increase automated underwriting capacity
Download this complimentary guide to learn more about electronic signatures and digital signatures in everyday banking transactions and how your organization can leverage this game-changing technology.