Users can send and receive instant signatures via eSignature. Agents and customers can simply draw their signatures once, then tap to place their signature in the appropriate places. This reduces the time it takes to complete any process and makes it more efficient.
The platform can also be used to guide agents through the digital process, so they can help customers avoid missing or incorrect information. Customers can speak to agents online or by phone to make sure that everything goes smoothly, efficiently, and quickly. This makes customers' lives easier and is our ultimate goal. Happy State Bank had conducted 250 virtual sessions before the pandemic. The bank held over 1000 sessions in real-time in March.
One of the most attractive aspects of eSignatures is that they are location-independent. You can sign documents anywhere you go, regardless of where you are. This speeds up processes and eliminates the need for snail mail or in-person visits. The completion rates of forms are also higher because people can fill them out anywhere and anytime. Agents don't have to chase customers for missing information. Instead, they can focus on helping other people and improving customer service.
This eSigning process includes the availability of mobile-optimized forms. Mobile-optimized means that the website content has been adapted to fit a mobile device. This allows for the same personal experience as on a desktop computer. You don't need a printer or computer to complete an eForm or eSignature while on the move. You can sign on your mobile device with your finger, regardless of where you may be.
eSignature is legal and secure for all users. It meets all legal requirements, including the Uniform Electronic Transactions Act and the ESIGN Act. Each session is time-stamped and has an audit trail that records all activity to eliminate legal risks. Paycheck Protection Program takes only three days. The bank was able to process thousands of SBA-authorized applications for up to $159 Million and fund more than $50,000,000 in PPP loans.
Digital signatures can be used to authenticate and verify digital documents. This is to ensure that the signer is the correct person. Deep technology lies beneath the signature. It is based on asymmetric encryption. It protects information using both a private and public key. The public key can be shared with anyone who needs access to the document, while the private key is only available to the owner. The public key of the receiver is required to encrypt digitally signed documents. The public key is sent to a Certification Authority, (CA), where it is checked carefully to verify that the signer is indeed who they claim to have been.
- It is easy to collect multiple signatures
Multiple signatures are often required for forms. This would typically mean that all parties must agree on a place and time to meet to be able to tackle the paperwork together. With everyone having different schedules, this could be a lengthy process that can increase turnaround times. Multi-party eSignature solutions allow all parties to sign at any time and from any place. This makes the process much faster. Happy State Bank was able to speed up the collection of multiparty eSignatures as well as required documents for account openings by using mobile-first technology. Customers can quickly take a photo with their mobile phone camera to upload documents and provide eSignatures for forms.
The bottom line
It is essential to know what customers want in any industry. Customers want convenience in all situations. Customers will choose what is most convenient for them, especially during this ongoing pandemic. Customers will often do whatever it takes to get to a meeting with other people, even if it means they have to leave the house. eSignature solutions have never been more important.
Investing in eSignature solutions not only improves customer experience, but also increases the value of your business. Satisfied customers are a sign of a successful business and can even lead to more customers. Find out more about eSignature capabilities and the entire platform of eForms digital payments, ID&V, and digital payments.