Financial Documents Gone Digital: What You Can Do Now For Customers And Managing Their Files

You can file your taxes online. You can bank online, apply for credit online, and even take out a bank loan online that is deposited into your checking account in minutes. In fact, there is very little in terms of financial services that financial institutions offer that cannot be done through digital means now. If you want your customers to know what services you offer and how you manage their financial files and information, here are some ways to share these features and information with them. 

The Digital Signature

Customers can sign everything digitally. This usually involves a verification step and one or two other steps that affirm that the customer is who they say they are. The verification step involves sending a code to the customer's phone via text message or email. The customer then has to open that message and email and provide that code in the spaces set aside for it online. The digital signature is usually the initials of the customer plus the last four digits of their social security number after he or she has entered the verification code. 

Literally any document that would have ordinarily required a traditional signature can now be signed electronically through online digital applications. That includes applications for a mortgage as well as an application for a credit card. In cases where an actual signature is still required to be on file, customers can use a touchpad to sign with a stylus or finger and then hit "enter" to get the signature on file. A listing on your website of all of the various financial documents that can be signed with a digital signature will encourage more paperless documentation and easier filing for your institution. 

Digital Document Management for Financial Services

Along with being able to sign everything digitally, customers can rest assured knowing that all of the financial info pertaining to them is safe and secure. In its digital format, this information goes into an individual's account file, and the files are compressed and stored either in the cloud or in a third-party data center that is very secure and very difficult to hack. This frees up a lot of physical and virtual office space for your financial institution, allowing company computers to do more business and store more information for new customers. Your company can amass absolutely massive amounts of data for millions of consumers, but it is all managed and stored elsewhere. 

Contact a company that provides digital document management for financial services for more information.