Secure agreement automation illustration

Secure Agreement Automation

Transform financial agreement processes into seamless, secure digital experiences

Secure agreement automation illustration

Secure Agreement Automation

Automate and secure every step in the digital customer journey  with digital identity verification, e-signatures, and digital audit trails

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Acquire More Customers

Reduce application abandonment and enable online and mobile channel growth

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Improve The Customer Experience

Ensure new customers enjoy a positive, consistent, digital experience

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Automate Identity Verification

Accelerate digital identity verification for new customer acquisition

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Mitigate Application Fraud

Reduce fraudulent enrollments by positively identifying qualified customers

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Capture Consent Electronically

Capture consent digitally to facilitate legally binding e-signatures

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Demonstrate Compliance With Digital Audit Trails

Capture a record of everything the customer did during new account opening

How it Works

See how OneSpan helps financial institutions digitize financial agreement processes

OneSpan Secure Agreement Automation combines digital identity verification, e-signature, workflow, and digital audit trails to digitize new account opening and finance applications, while also reducing fraud. 

Financial institutions can bring on new customers within minutes with less risk and a differentiated customer experience. 

Acquire More Customers

Achieve digital channel growth with digital account opening

Customers expect to be able to open a new account via a fully digital process. Manual steps such as in-person ID verification frustrate customers and lead to application abandonment.

Aite Group estimates that abandonment during account opening is as high as 65-95%, depending on the product.

Conor Hickey, Solution Architect at OneSpan, discusses how banks can increase account opening with digital identity verification.

White Paper

Digital Account Opening: How to Transform & Protect the Account Opening Journey

Learn how to increase growth, overcome abandonment, and mitigate fraud with digital account opening.

Leverage digital ID verification, biometrics, e-signature, and machine learning-based fraud analytics to transform and secure the digital customer journey. 

Improve the Customer Experience

Automate financial agreement processes for a consistent experience across all digital channels

Provide convenient anytime, anywhere engagement for new customers. Ensure customers enjoy a consistent application, identity verification, and agreement signing experience across all digital channels.

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Customer Demonstration

How Santander Consumer Finance Use Secure Agreement Automation to Improve the Customer Experience

Santander Consumer Finance use OneSpan Secure Agreement Automation to digitize auto finance applications. The customer journey is delivered entirely digitally via an online portal.

This video demonstrates how Santander’s customers complete their finance applications online.

Automate Identity Verification

Accelerate new customer acquisition in online and mobile channels with digital identity verification

Quickly identify and verify unknown applicants with digital ID document verification and facial comparison. 

Leverage OneSpan Verification Hub to meet Know Your Customer (KYC) requirements and identify applicants in real time.

What Our Customers are Saying About Secure Agreement Automation

"We were looking to improve on the scalability of the business, the compliant journey for the customer, and the customer experience. I would highly recommend OneSpan. I believe this is the future, and the more normal it becomes in our industry the better it's going to be for everyone."

— Dave Briggs, COO

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Mitigate Application Fraud

Reduce fraudulent enrollments by positively identifying qualified customers

Application fraud represents one of the fastest growing business challenges to financial institutions. 

OneSpan helps to mitigate application fraud across online and mobile channels via mobile ID capture, digital identity verification, and electronic signing.

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Capture Consent Electronically

Automate your signing workflows and capture consent with secure e-signatures

Eliminate manual processing errors and reduce operational costs by integrating electronic signatures into account opening and finance agreement processes. OneSpan Sign facilitates legally binding e-signatures from anywhere, on any device.

OneSpan Sign balances ease of use with the highest levels of security and compliance to deliver an electronic signature solution for all your business needs.

Demonstrate Compliance with Digital Audit Trails

Protect your organization with comprehensive digital audit trails

Financial institutions (FIs) need to capture a complete record of the agreement process using digital audit trails.

Digital audit trails prove the FI carried out all necessary Know Your Customer (KYC) checks and the applicant intended to be bound by the terms of the agreement.

Audit trails can help FIs demonstrate compliance to regulators and protect against potential disputes. 

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How financial institutions are putting these capabilities to work

Financial institutions (FIs) are leveraging agreement automation technology to digitize account opening processes. Typical use cases include:

  • Checking accounts
  • Savings accounts
  • Corporate bank accounts
  • Credit card applications 

The combination of digital identity verification, e-signature, and secure storage allows FIs to transform account opening processes so that customers can open accounts anytime, from anywhere. 

Agreement automation can be used to digitize any type of financial transaction. Typical use cases include:

  • Personal loans
  • Residential mortgages
  • Asset finance agreements
  • Auto finance agreements
  • Annuities
  • Pensions

By automating the agreement process, financial institutions are able to offer a better experience for customers, differentiate themselves from their competition, and improve compliance.

Our customers use Secure Agreement Automation for:

Financial Agreement Automation

OneSpan’s Secure Agreement Automation with digital identity verification has positioned MotoNovo to grow rapidly while preventing application fraud.

  • 40% of new business automated

  • Reduced fraud with real-time KYC checks

  • Increased growth to achieve £150M of new business per month

Automotive Finance Agreements

Investec is an international specialist banking group. To strengthen compliance and improve the auto finance experience, Investec implemented a fully digital application process.

  • 25% of financial agreements automated

  • Made the customer contract process more convenient and efficient 

  • Capture a complete audit trail to prove a compliant process was followed

Remote Account Openings

FIs use Secure Agreement Automation to solve challenges in digital account opening processes. This Aite report highlights key technologies and best practices to digitize the customer experience.

  • Key account opening performance metrics 

  • Technologies to transform account opening

  • Vendor comparison guide

Questions? We are ready with answers

OneSpan can help you deliver a secure digital financial agreement process while reducing abandonment rates.