Electronic Signatures for Financial Institutions

Accelerate the Documents Processing Using Secure e-Signatures

Electronic signatures are an essential part of an enterprise digitization strategy. Among financial institutions (FIs) of all sizes, there is tremendous interest in going digital when dealing with paperwork. We, at Innovecs, are ready to help you implement a secure and regulatory compliant e-Signature solution into the daily workflow of your organization.

Use Cases of E-signatures for Financial Industry

01

Banking

 

Electronic signatures make it simple for banks to streamline new account openings, optimize the lending process, and offer top-notch customer service. Additionally, it helps to reduce operating costs and time, as well as substantially improve compliance conditions.

02

Credit unions

 

E-signature technology speeds up the processing of consumer loan applications, internal approvals, employee agreements, new organization policies. Also, digital signatures enhance employee and customer satisfaction and help to earn more.

03

Wealth management

 

Using electronic signatures, wealth management companies reap benefits by streamlining new accounts, authorizing transactions, transferring money, and getting more assets under management faster.

04

Digital mortgage

 

As more mortgages and refinances switch to online operations for enhanced convenience and speed, e-signatures are the perfect solution to bring the digital experience into the customer’s home and make it convenient, secure, and compliant.

Benefits of Digital Signatures for Financial Companies
Financial institutions (FIs) are now offering their customers safer, more comfortable and faster services as compared to previous years, thanks to the digitization. Embracing electronic signatures for financial management makes things easier in terms of executing financial affairs, predicting financial trends and meeting the demands of tech-savvy clients.
Enhanced Security
Automation and Cost Reduction
Regulatory Compliant Services
Improved Transparency and Client Loyalty
fintech
TRUSTED BY THE GREAT COMPANIES
Jam City
Emerge TMS
Client says
Code quality, talent level, time difference, communication, retention… what you guys have done here is you’ve taken the western principles and you basically have them on steroids. Your HR is very talented, your brochure looks great!
alex malamud innovecs
Client says
You and your team are awesome. Your guys got my product done in three months. I am very impressed!
Andrew Leto
Client says
I greatly enjoyed the hospitality and opportunity to meet the team. Now I'm confident we have something special here!
Tyler Ziemann
Client says
As far as working with Innovecs, my overall satisfaction is high. I asked a lot from the team and they ultimately delivered.
Chris Ricci
Client says
Working with Innovecs has been a positive experience for us! They have been an important partner over the years generating quality content within our fast-paced development schedule. We highly recommend their services!
Shane Nakamura
01
02
03
04
05
RELATED POSTS
Biggest Challenges in Financial Sector and Tech Solutions to Overcome Them
The financial services market has seen radical technology-led changes over the past few years. Many leaders look to their IT departments to improve performance and promote game-changing innovation – while somehow reducing costs and, at the same time,  continuing to use legacy systems. “To succeed in this rapidly changing landscape, IT executives will need to agree with the rest of the management team on the posture they wish to adopt. Will they try to be industry leaders, fast followers, or will they just react? Whichever direction they choose, they will need to devise a clear strategy to move forward.” FS Tech 2020 and Beyond: Embracing disruption Meantime, fintech startups are disrupting the established markets, leading with user-centric solutions developed from scratch and unencumbered by legacy platforms.  Customers have certain expectations and are now necessitating better services, seamless experiences regardless of channel, and more value for their money. Also, regulators demand more from the industry and have started to adopt new technologies that will transform their ability to gather and analyze data. And the pace of drastic change is not even at the peak. There is no doubt that technology is affecting financial services in multiple ways. The PWC report suggests ten key influencers that IT executives need to address while strategic planning for 2020 and beyond.Each of these drivers is likely to change financial services companies and their management teams in far-reaching ways. And while each can have a disproportionately strong effect on a given country, customer set, or industry sector, they all present opportunities for the thinking executive to go ahead. Knowing a robotics era is coming, for example, you have a choice: to harness the innovation, or to see others benefit from a global shift. The section below sets up challenges around these ten influencers: to know them, get ready for them, and see how to employ them to get a competitive advantage.
#FinTech #Cloud #Whitepaper
Why a GRC Software Solution Is Vital For Your Business
As we see from the 2019 Cost of a Data Breach Report, more than 500 companies around the world suffered a breach over the past year. Organizations are now creating an urgent demand for reliable, feature-rich, and trusted solutions that meet the GRC (governance, risk, and compliance) regulations, forecast risks, identify problems and mitigate them before they happen.The report data is based on hundreds of cost factors, including legal, regulatory, and technical procedures to the loss of brand equity, customers, and human productivity. The highlights from this year’s report include:For the last nine years, the healthcare industry suffered the highest cost of a breach—almost $6.5 million on average (60% more than other sectors in the survey). Over 50% of data breaches were caused by malicious cyberattacks and cost $1 million more on average than those that resulted from accidental causes. Big breaches of more than 1 million data records cost companies approximately $42 million in losses, and breaches of 50 million data records can cost companies $388 million. Companies that have an incident response team have reduced those costs to $1.23 million on average. The average price of a breach in the US is $8.19 million, more than double the worldwide average.Another report from IBM Security and Ponemon Institute examined the financial consequences of a data breach and how companies can reduce the impact.An effective GRC platform helps companies to identify the risks before they occur, centralize the entire program in one place, and integrate risk management across all business procedures.
#FinTech #Machine Learning #Article
Need Help with Moving to Digital Signatures?
If you are looking for a trusted software development partner to implement a digital solution for signing documents electronically, we are ready to help. Send us your requirements so that we can prepare the best proposal for your needs.