And finally…Deutsche Bank ditches pen and ink for corporate contracts
Deutsche Bank is introducing a digital signature to accelerate account openings for its corporate and institutional clients.
The investment bank said digitising account openings and document signings will significantly reduce costs and processing times and will increase the efficiency in the contractual process handling for both clients and Deutsche Bank alike.
Document and contract signing remains one of the most important and frequent processes between banks and its clients and until today involves a high degree of manual processing.
The bank has piloted the solution with US-based Honeywell, one of its large corporate clients.
“In an increasingly digital working environment, we are always looking to our banking partners to help us enhance efficiencies and further digitise processes”, says Marie-Astrid Dubois from Honeywell. “Deutsche Bank’s new digital signature solution is a good example of how banks can introduce new technology to enhance existing banking partnerships. This solution is a nice and obvious fix to the otherwise cumbersome collection of wet signatures.”
“Digital signatures enable us to accelerate the entire client onboarding and contract management process. This is just one example of how we further streamline our processes to create an improved and highly intuitive customer experience”. says Martin Runow, Global Head of Client Connectivity Products, Global Transaction Banking, Deutsche Bank AG.
Clients can use the digital signature to open accounts, sign documents and buy products from the bank.
The digital signature solution is available to many corporate and institutional clients in the US, the UK, Germany, Belgium and the Netherlands. Deutsche Bank clients in Asia-Pacific and Middle East will be able to profit from the digital solution in 2019.