Capture more than esignatures – implement efficient workflows across all channels

By Peter Craik, Managing Director, Steadlands

Many terms are synonymous with writing a signature – like “X” or “your autograph.” When it comes to electronic signatures, the new synonym is “Workflow.”

The act of signing encompasses more than applying a signature. It involves a well-defined process, or ceremony, that includes the following steps: authenticating the signer, properly presenting documents and disclosures, applying the signature, and finally, storing the document.

Today, eSignature technology can orchestrate the entire eSigning ceremony, no matter where, how, or when the signing needs to occur. And that directly translates into more efficient workflow and more sales opportunities across your multiple channels. 

Working Across Channels

In the past, companies used eSignature technology to automate individual processes, deploying and managing numerous solutions from various vendors. While useful for one line of business (LOB), the IT investment could not be leveraged across the organization. 

Today, retail banking encompasses much more than the physical branch, and technology deployments must clearly show bottom-line benefits. In this demanding atmosphere, eSignature technology can no longer be deployed as a point solution.

IntegriSign^TM Emcee, a central document and eSigning engine installed within your IT infrastructure, is the centerpiece of the eSignature workflow evolution. IntegriSign Emcee bridges the gap between disparate systems, interacting with other bank IT solutions - before, during, and after the document presentation and eSigning ceremony.

Boosting Profitability

That coordination boosts profitability. Imagine, for example, the following eSigning scenario. Your Automated Underwriting System first authenticates the signer, determining this person has the desired credit score. The online eSigning process continues, activating IntegriSign Emcee. The proper documents and disclaimers are presented in the required order to the signer. After the ceremony, the documents are then sent to your eVaulting or archiving system. Transactions are completed quickly and efficiently, eliminating delays that might have lead to frustration and loss of business.

But IntegriSign Emcee even takes it one step further. The server not only interacts with other systems seamlessly, it supports all possible eSignature capture methods: a handwritten electronic signature capture device, like an Interlink ePad; a Tablet PC; a Touchscreen Smartphone; or click-to-sign using a standard web browser.

Why is this flexibility critical today? You may want branches to use an Interlink Electronics ePad, field representatives to use a Smartphone or Tablet PC, and online customers to click-to-sign. Regardless of how the signature is captured, IntegriSign Emcee automates the document presentation workflow, captures signing intent or acknowledgment of receipt, binds the signature to the document, and produces an audit trail.

"As distribution channels multiply and increasingly become self-service, banks are challenged to optimize the customer experience across channels [1]," says Celent consulting. One eSigning server that allows multiple capture options allows the desired user experience whether online, in-branch, or in-field.

Better Cross-Selling

In essence, any paper process that needs a signature or an acknowledgment of receipt can be transferred to the electronic domain with added security, automation, and efficiency. 

In addition, the right technology can ensure that the right marketing messages are presented at the right time, helping you cross-sell. For instance the ePad LS, the best-in-class LCD display for capturing handwritten electronic signatures, can display targeted marketing messages that help your representatives initiate the up-sell conversation. Before and after the customer eSigns, the ePad LS can display relevant messages regarding mortgage rates, new credit card offerings, or other products suited to that particular customer.

"Banks now have access to an unprecedented amount of data about their customers [1]," Celent says. "Using this information across lines of business is essential. As products begin to cross lines of business, bankers need to understand the dynamics of the entire set of relationships and market accordingly."

Benefits of eSignature Workflow

By using the same eSignature technology across all channels, you leverage your investment and ensure consistency in business processes wherever the signing occurs. And you can:

Boost Revenues. By reducing the time it takes to complete a sale, you handle more sales per day.
Slash Costs. Eliminating manual and paper processes saves operational and courier costs, and also reduces not-in-good-order (NIGO) rates.
Improve Internal Operations. Speed of intraday and end-of-day reporting is dramatically increased, allowing faster approvals.

Electronic signatures aren't just about signing anymore. New technology bridges business processes and channels, providing a more efficient workflow, a heightened user-experience - and opening up many more business opportunities.

Contact details:
Peter Craik
Managing Director, Steadlands
PO Box 41
Blyth NE24 3YE, UK
T: 01670 361 261
F: 01670 361 061
E: peter@steadlands.com

Footnote:
[1] Celent Model Bank 2008: Case Studies of Effective Technology Usage in Banking February 2008