How e-signatures can improve banking processes.
Whether you work for a bank or use one daily, learn about the benefits of electronic signatures.
Paper trails are messy, hard to track, and only as secure as the filing cabinets where they’re stored. The paper trails left by banking and financial services are no exception. Between opening accounts, borrowing money, managing investments, and paying off loans, all that documentation can feel overwhelming. Learn how to turn your printed trails into digital ones for added security, organization, convenience, and peace of mind.
Digitize your paper trails.
Whether you work for a bank or use one every day, here’s what you need to know about digital documents and signatures for your banking.
- Understand the policies. Make sure you understand your bank’s electronic signature policy. Many states have adopted UETA—the Uniform Electronic Transactions Act. If a state has not adopted UETA (currently these include New York, Illinois, and Washington), the federal statute ESIGN—Electronic Signatures in Global and National Commerce—will take effect. Together, these two pieces of legislation ensure digital commerce has the same legal footing as paper commerce. Work with your bank or your legal experts to identify any areas of exclusion and understand how these policies affect you personally.
- Save. Allowing electronic signatures for most of your transactions will save considerable amounts in printing, processing, and outdated operational costs if you’re the bank. If you’re the customer, electronic signatures save you time spent printing, signing, scanning or faxing and allow you to bank on the go.
- Ensure security. Electronic signatures allow you to keep a digital audit trail of your banking history, whether you’re a banker working with a client, or a person using banking services. Having all of your signed agreements and paperwork in one place helps keep things organized, searchable, and secure. No loose paperwork required.