How eSignature benefits the financial industry


Сustomers want to be pioneers when it comes to technology. So if your institution does not allow them to perform operations on the move, be ready to be left behind.

The point here is that technology should give you at least one main benefit  – convenience. And numerous studies prove that modern clients are ready to compromise their money and even privacy to get what they want when they want it.

Have a look at the following statistics:

Modern clients are mobile natives: 55% of Gen Z are on their phones for 5 hours or more every day

This however causes attention problems: In one survey, 43 percent of participants admitted to spending too much time online and 54 percent admitted they interrupted face-to-face conversations with friends and family. Half of the respondents said that using their smartphones makes them feel like they’re always at work. 

But others say their phones reduce the amount of stress and anxiety in their lives. 

So what does this mean for the user experience?

Smartphones take the leading role. So it’s up to you to make your clients satisfied. 

And there are simple things that provide a ‘stressless’ mobile experience.

  1. Mobile-first means that interface and design work seamlessly together
  2. Small screen environment requires a special approach to advertising, emails and other media, so do not overload screen with unnecessary content
  3. Make your clients see and feel the value of your service instantly

Soon enough customers will be able to use voice commands to do simple banking tasks such as paying bills, transferring money, and setting up notifications. 

At the same time, there is a huge backlog with internal processes. 

US businesses are still wasting $8 billion a year just on managing paper. 41% of companies require signatures on more than half of their documents. They are printing more than half of their papers to get them signed. Additionally, over 50% of these businesses make three or more copies of their documents.

How can you affect this dynamic?

Have you ever heard that among financial institutions, eSignature reduces scanning errors by 92 percent, while lowering the amount of lost files by 66 percent? 

When we look towards financial operations that are not limited to the computer, keep in mind that very few are possible without eSigning. The signNow experience proves that the digital signature is gaining ground and is increasingly emerging as a solution that saves time and streamlines procedures for banks and financial institutions. 

Here are eSigning benefits to take into account:

eSignatures are not everything when it comes to maintaining the financial industry. But they are a mandatary step in the digital transformation journey for any financial institution. 

And signNow is a tool that can save you countless hours of work and satisfy your consumers’ expectations.