Account openings, loan applications, mortgage processes…the financial industry is one of the most ‘contract and paper-laden’ sectors in business today. DocuSign recently received an email from PA-based Utilities Employees Credit Union – a DocuSign customer who credits DocuSign’s electronic signature and on-demand contract execution services for some pretty dramatic improvements in their banking operations.

UECU is just one in many financial customers using DocuSign. From mega-corps like Wells Fargo to the small town little guys, DocuSign is helping them tackle the age-old (and costly) problem of too many paper forms, too much courier expense and way too many opportunities for signing and contract completion errors.

Statistics show the value in adopting new technologies like DocuSign. Check this out:

  • Leading financial institutions have by reduced the total number of paper forms used for account openings, loan applications, mortgage processes, etc. by more than 90%;
  • Insurance applications involving thousands of sales personnel signing up customers have been able to bring these new accounts onboard in 70% faster with a 92% customer acceptance rating by using electronic signature and online contract execution services.
  • Other key benefits reported by financial institutions include a significant reduction in life cycle cost of managing mission critical documents, accelerating turnaround time of account applications, increasing revenue by having more time available for up/cross selling, providing access to electronic content immediately and significantly reducing back office costs.

And perhaps MOST IMPORTANT, is the on-going focus on enhancing the customer experience while reducing expenses in a brutal economy that has shown no favors for this industry in particular.

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