Capturing Consent for Consumer Financing and Leasing Applications
On the surface, the “I agree” button on clickwrap agreements seems pretty straightforward--all customers need to do is click a button or check a box to express their consent. For organizations, however, managing these standard, non-negotiable, and often high-volume agreements can be quite complex. In fact, organizations who don’t have the proper clickwrap processes and solutions in place can open themselves up to legal risk, such as class action lawsuits or loss of intellectual property.
Digitizing agreements at American First Finance
American First Finance Inc. is a consumer financial services company with a unique business model, entering into consumer rental purchase agreements, purchasing retail installment sale contracts, and servicing loans originated by a third-party bank. Over the past few years, American First Finance has been rapidly growing and expanding their sales teams; thus, investing in their infrastructure to scale and support growth has been a key company initiative. The legal and IT teams recognized the importance of leveraging new technology to improve customer experiences and streamline internal processes. They traditionally had manual processes when it came to creating, reviewing and negotiating agreements but have taken strides in digitizing and automating their business processes with the DocuSign Agreement Cloud.
A new solution for clickwrap agreements
DocuSign Click was a natural next step in their Agreement Cloud journey. American First Finance was previously using a proprietary clickwrap solution to capture customer consent to their standard terms and DocuSign eSignature for consumer contracts. When the legal and IT teams saw that DocuSign was offering a new clickwrap solution, they were interested to see how DocuSign could help them manage version control and document evidence of consent of their clickwrap agreements. DocuSign Click is an easy-to-use, simple-to-deploy clickwrap solution, helping organizations securely capture customer consent to standard terms. With DocuSign Click, American First Finance has visibility into a detailed audit trail. The company can easily version their agreements, set up deployment using Click’s automatically generated code snippet and ensure customers have consented to the latest updates.
Leveraging the DocuSign Agreement Cloud
Best practices from American First Finance
The legal team at American First Finance offers these tips in implementing a new solution for clickwrap agreements:
- Ensure you have the underlying clickwrap agreements saved in an editable format and in a location your legal team can easily access to manage version control.
- Mock-up how you want the clickwrap to be presented to your end-users so your team has a clear picture of how it should be designed.
- Think outside the box to identify clickwrap use cases (i.e. consent-based agreements without dynamic fields such as terms-of-service, end-user license agreements, marketing communications consent and more).
To hear more about American First Finance’s Agreement Cloud journey, and see a live demo of DocuSign Click, view our on-demand webinar Capture Customer Consent Online with a Single Click.
by Mindy Park, Product Marketing Manager at DocuSign.