E-Signatures Improving Productivity in Financial Institutions

Dilani Silva, October 19, 2015

The financial services industry has transformed the way it does business by providing digital experiences to customers. With technology use on the rise, customers are expecting to receive a seamless experience when interacting with their financial institution. Whether customers open a new account, or purchase a new product or service, financial institutions need to carefully consider the digital tools needed to deliver memorable customer experiences. In our recent webcast "How RBC Improved Investment Advisor Productivity with E-Signatures", CEB TowerGroup, a research firm focused on the financial services industry, provided several insights from a recent survey, including:

  • 34% of respondents prefer using client-facing portals or wealth management websites when purchasing new financial products or services;
  • 62% of Gen X/Y clients believe technology helps them better collaborate with their financial advisor;
  • 32% of financial institutions reported that both improving client onboarding from the front to back office and applying technology to improve multi-channel client engagements are the top two areas that are most critical during the next 12 months.

Keith Wilson, Senior Manager Business Technology Strategy at RBC joined us in the webcast to share RBC’s success story. Since implementing e-SignLive e-signatures, the financial institution has realized the benefits of keeping transactions digital. Before e-signatures, RBC’s sales representatives spent too much time on post-sales administration paper work. Not only would they chase wet signatures from their clients, they also had the laborious process of scanning signed documents and archiving them. What’s more, according to James McGuire, Royal Bank of Canada’s VP of digital strategy and customer experience, since implementing e-SignLive, error rates have dropped by 75%. RBC reduced error rate risk of forms having missing documents, customers filling in the wrong information and missing signatures. With e-signatures, fields in the forms are pre-populated, documents include clear indicators of where the client needs to sign and documents presented in a sequential order helped sales representatives save 2-3 hours a week on post-sales administration paperwork. e-SignLive not only helped RBC become more productive, it also helped drive customer adoption and loyalty by providing a seamless and friendly user experience for customers who need to e-sign documents. Interested in digitizing your financial institution with e-signatures? Learn more about the benefits of e-signatures for financial institutions in our webcast here.

Dilani Silva is a Product Marketing Manager at OneSpan. In her role, she manages and executes the go-to-market strategy, positioning, messaging and sales enablement for OneSpan’s e-signature solution, OneSpan Sign.