Written by CEB, a best practice insight and technology company, this E-Signature Solutions Market Update for Retail Banking shares the state of digital and e-signature solutions, as well as implementation best practices to help financial institutions understand the key challenges and critical components associated with a new e-signature technology implementation.
- Operational Efficiency: Paper-related processes pose a significant cost to banks - could reach up to $30,000 per year - and are an inefficient use of employee time.
- Regulatory Compliance: Features such as audit trail, data encryption, signature certificates, and automatic archive will be important for regulatory compliance.
- Customer Experience: In a recent study 42% of global customers preferred digital channels however 30% of customers opening an account online had to go to the branch to sign paperwork.
- Important Electronic Signature Features and Definitions: The scope of features that e-signature technology provides is an important factor to any financial institution’s investment decision.
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