Use Case: Commercial Banking

e-Signature, Use Cases
e-Signatures vendor

Commercial banking typically has some complexity not encountered in more standard banking (such as personal loans and mortgages). This complexity often revolves around customer engagement. Some key areas of difference are the following:

  1. The document parcel is (often) prepared by an assistant and therefore the document creator is not the internal bank officer signer. Due to this, the document parcel requires an internal workflow where the signing officer(s) can review the parcel, return for amendments and then have the parcel finalized and approved.
  2. The document parcel is often an amalgamation of several output files from multiple source systems. Due to this, one integration to the source system is not possible.
  3. Once the document parcel is e-Signed by the necessary internal (bank) approvers, the package will then be sent to the customer(s) for approval. The list of customer approvals is typically more complex than a standard loan and added compliance complexities. 

Critical Hurdles:

  • Internal document workflows, review and approvals is difficult to do with an e-Signatures vendor. Once the approval is completed, the documents are locked down as signed. In this use case, once the internal approvals are received, the parcel is “ready” to be sent to the customer, which involves an additional interaction with the e-Signature Vendor to get customers to eSign.
  • Commercial banking has lower volumes and therefore it is very difficult to achieve a positive ROI estimate to green light an e-Signature project.
  • Due to the challenges listed above, e-Signatures is often only used at the very end of the process for limited signatures.
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