Technology is essential to businesses, but it’s even more critical to their customers! It has been proven time and again that people want to shop, trade, and do business with companies that offer the latest innovations in digital advancement. This fact is especially actual in the finance sector. If you don’t let your customers interact with you on the move, you’re going to fall to the back of the curve!
Increased Efficiency
All new tech solutions have one primary goal – the convenience of use for the customer. Studies keep revealing how clients will willingly compromise privacy and even finances for the sake of a more convenient way to operate.
Statistically, your modern clients are the ones who spend most of their time on their phones. Surveys suggested that 45% – less than half – of surveyed members spend less than five hours daily on their phones.
In another survey, more than 40% of people said they spend too much time online, while more than half have interrupted their friends and family in real life to take a call. 50% of those surveyed feel like they’re always at work thanks to their smartphones!
Despite the attention issues, though, most say phones lower the levels of anxiety and stress they experience in some way. Regardless, smartphones are central, and they’re here to stay. Your job is working with this to produce the best results, and make it as stress-free as possible.
As previously noted, adopting a Digital Signature solution such as eSign Genie will keep you ahead of your competition. Reliance on a paper and wet-ink signature shows inflexibility. However, adopting an e-signature increases the levels of customer satisfaction.
Mobile-first
In today’s digital era clients expect from financial institutions such as banks to provide first-class online services
Your business interface and design should work well together, and your website or app should work correctly on mobiles.
Mobile phones have smaller screens, which means your emails, advertising, and other media should be adapted so as not to overload the user.
The point is quickness. Your clients want instant service – so give it to them!
The electronic signature allows transparency between the institution and the customer because the signing process is immediate.
Improved Security
The use of traditional paper banking documentation signatures is open to fraud. Paper documents can easily be stolen, misplaced, or lost.
Businesses aren’t keeping up with their clients, however. In the US, $8 billion annually is spent just on paper, a lot of which is no longer necessary. More than 40% of companies need signatures on most (i.e., over half) of their documentation – and they print them off to do this! As well, half of that 40% print papers in triplicate.
Minimizing costs
Financial institutions are taking advantage of e-signatures to reduce their operational costs. Even though the paper is relatively affordable, printing billions of pages every year can be quite expensive in the long run. By using electronic signatures, they can cut down on paper and time and improve the customer experience
Furthermore, the adoption of online signatures means saving on stationery and printing costs. It also makes it easier to handle the storage and retrieve the documents.
Fixing the Problem
Quick statistics: in financial institutions, e-signatures bring errors down by over 90%. Also, an online signature reduces file loss by around 66%. That’s huge for any business, especially one dealing with money!
Digital signatures are legally recognized throughout the US. They save time, streamline operations, and make excessive paper and security risks disappear.
Other benefits include:
- increased transaction efficiency,
- fraud risk reduction,
- protection of sensitive financial information,
- simplified user experience,
- improved brand reputation
Conclusion
Embracing eSign Genie has made things much more comfortable for businesses in terms of executing their financial affairs and meeting the demands of tech-savvy clients. You’ll be surprised just how much more efficient everything becomes with this 0critical step into the world of digital business.