Download DocuSign - Southern California Credit Union Alliance

Increase Close Rates, Efficiencies and Member
Satisfaction with Electronic Signatures
November 29, 2010
Matt Willis
DocuSign, Inc.
Today’s Lending Environment
Increased demand for consumer
security and process control
• Increased demand for fully
documented loans, added
restrictions (Reg Z)
• Consumer pressure to be more
efficient
• Increased focus on green business
practices
• Business requirement to be more
efficient
•
Not Automated – Documented Business Transactions
Auto/Boat/RV Loan
– Mortgage Loans
– Direct Deposit Payroll Change
– “Quick Switch” Programs
– Account Opening
– Real Estate Modification
–
“Paper Speed Bump”
The Problem with Paper
Slows transactions
• Creates errors
• Lack of visibility and control
• Form data needs to be
re-keyed
•
Fax degrades document quality
Consumer data can be lost
Overnight shipping fees have
doubled
• ... It is not very ‘green’!
•
•
•
Just live with it?
DocuSign is about Getting Rid of the Speed Bump
Top Questions Concerning eSignatures
• Is it legal?
• How does the signature get in
there?
• How do you know who signed?
• Will it work with MY documents?
• Who ELSE is doing this?
Is It Legal?
•
Electronic Signature: “an electronic sound, symbol, or process, attached
to or logically associated with a contract or other record and executed or
adopted by a person with the intent to sign the record.”
•
Enforceability: “A record cannot be denied legal effect or validity solely
on the basis that it is electronic.”
How Do I Know Who Signed?
High value or high
potential for fraud
Witness
Phone
Based Auth
Knowledge Based
Authentication
(KBA)
One Time Password
Low value or low
potential for fraud
Email Validation
DocuSign Provides Several Authentication levels
Will It Work with MY Documents? Yes!
Print into DocuSign
from any Application
Upload any Document
into DocuSign
Convert Forms to
‘PowerForms’
• Over MS Windows 50,000 applications
• Key for loan application systems
Will It Work with MY Documents? Yes!
Print into DocuSign
from any Application
Upload any Document
into DocuSign
Convert Forms to
‘PowerForms’
Upload most file formats:
• PDF
• MS Word, Excel, PowerPoint
• Fax files, image files, etc.
Will It Work with MY Documents? Yes!
Print into DocuSign
from any Application
Upload any Document
into DocuSign
Convert Forms to
‘PowerForms’
• Convert any PDF in to a PowerForm
• Embed into any website
• Enables user-driven ‘Fill out and sign’
Mobile Signing and Tracking
We support iPhone, iPad, Android, BlackBerry and more…
“Paperless transactions are the future. We chose to partner with DocuSign
because they’re a leader in eSignature technology in terms of security, product
quality and functionality.” —SVP, California
DocuSign is the Recognized Leader
•
Salesforce.com
–
•
National Association of Realtors
–
•
Named DocuSign as the Exclusive
Electronic Signature Provider to the
US Residential Real Estate Market
Forrester Research
–
•
Selected DocuSign as the best
platform for cloud transactions
Named DocuSign as the clear leader
in SaaS electronic signature services
The US Congress
–
Congressional Resolution 290
recognized June 30 as National
ESIGN Day—coalition led by
DocuSign
DocuSign Today – Clear Leader
Over 7M Active Signers
120M Signing Events
30,000+ Customers
SAS 70 Certified Business
Most Comprehensive Solution
100+ Credit Unions processing
thousands of transactions per
month
Who Else is Using DocuSign?
Who Else…continued
The World is DocuSigning
Fortune 500
Foreign Owned Customers that Selected and use DocuSign Today
Other Notable Companies that Selected and use DocuSign Today
What Are They Saying?
Error Reduction
"Before, if you were missing a signature on a
document, you had to send it back. That's the joy of
DocuSign. The member signs and initials it exactly
where they have to—and it's not finished until they
do. You'll never get a packet back with a missing
signature."
Tulsa Teachers Credit Union
What Are They Saying?
Increased Transaction Speed
“Some members complete their loan
documents before they even get off the phone
with lending staff. Plus, we are able to process
a greater volume of loan modifications, which
would not have been possible before
DocuSign."
Bellco Credit Union
What Are They Saying?
Increased Revenue Potential
"Getting the loan on the books, based on
your average loan size, just a day earlier pays
for the DocuSign service. For example, a
member takes out a $15,000 loan at 6%
accruing interest at $2.64/day. Getting that
loan on the books in one day versus 10
creates additional value to the credit union
and more than pays for the DocuSign
service.”
Tulsa Teachers Credit Union
What Are Members Saying?
Background
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Client since March 2010, and is one of the Top 10 in the US in terms of size (assets)
Moving to closed-end lending, implemented DocuSign to improve member experience and
improve loan closure rate
Sent out survey to member who had recently signed their first document via DocuSign
Credit Union Member Survey Results
“We chose DocuSign after vetting a number of competitors that simply didn’t
measure up. DocuSign was clearly the most efficient, user-friendly way to
transact the loan e-signing process,” —SVP, Illinois
Q&A
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Decreases the time it takes to process a loan
Clearly authenticates the signers
Eliminates the need to re-key data
Lowers the cost of processing a loan
Secures sensitive financial data
Works with web, call center, or branch transactions
Dramatically reduces the member ‘hassle factor’