Rethinking normal with electronic signatures- The key to lending adaptability

As America gets back to business, it may be time to update your approach to lending to meet borrower demand and remain competitive. In Finastra’s recent webinar, we asked community bank attendees what percentage of their documents are currently electronically signed. Seventy percent of attendees said less than 10 percent of documents are electronically signed, while only 2 percent of institutions are signing 75 percent or more documents electronically.

The lending landscape has changed in a way that no one could have anticipated. The pandemic and the need for social distancing has changed how we do business. While many financial institutions have been thinking about implementing electronic signatures and incorporating them into the lending workflow, the pandemic has hastened its urgency—electronic signatures are no longer a “nice-to-have,” they’re a necessity.

After talking to many community banks across the country, we have heard that face-to-face interaction is still important, but finding the right mix of digital and physical channels to properly service the needs of borrowers in the current environment can be challenging.

ProSign Online was constructed with a focus on the complex and challenging requirements of consumer and commercial lending. Put the power in the hands of your borrower and streamline both virtual and in-branch lending needs.

Getting started with an electronic signatures solution like ProSign Online is simple with Finastra’s end-to-end Total Lending solutions. Proven to be fundamental to the Paycheck Protection Program (PPP) with its more than 55,000 PPP transactions, the borrower desire for convenient electronic signature capabilities is here to stay.

Watch this on-demand webinar to learn how Finastra’s Total Lending solutions, including ProSign Online, can drive forward your portfolio success. You will hear:

  • COVID-19 response
  • Maximizing electronic signatures capabilities
  • ProSign Online demo
  • Guest speaker from Great Western Bank in Sioux Falls, South Dakota

Tallie Colvin, vice president of retail and consumer lending from Great Western Bank said, “…institutions of any size need to be prepared and supportive of any technology that can provide customers and employees with options to serve those customers in the convenient and efficient method that ProSign Online has done for us.”

Watch the on-demand webinar here.