The BoldSign mobile app is now available. Visitthis link for more details and give it a try!

The BoldSign mobile app is now available. Visitthis link for more details and give it a try!

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Features

Explore the BoldSign features that make eSigning easier.

How BoldSign Helps with Account Opening in Banking

How BoldSign Helps with Account Openings in Banking

BoldSign empowers banks to digitize and automate signing tasks, reducing paperwork, minimizing turnaround times, and improving customer satisfaction. Let’s explore how BoldSign transforms the landscape of banking signatures by facilitating hassle-free account opening procedures.

Leveraging BoldSign in account opening

By leveraging BoldSign’s advanced features, banks can speed up their account opening procedures, offering customers a seamless digital experience while ensuring rigorous security measures and regulatory compliance.

Multisigner support

This feature allows banks to manage the account opening process efficiently for joint accounts or accounts with multiple signatories. Traditionally, both would need to be physically present to sign paperwork. With multisigner support, you can add multiple signers to the account opening document. Each person can access the online application separately, verify their identities, and electronically sign the document. This eliminates the need for scheduling a joint visit and streamlines the process for all parties involved.

Add Recipient button
Add Recipient button

Form fields

Banking institutions usually collect customers’ personal information during the account opening process. However, obtaining the exact information in the required format can often be confusing and time-consuming. Banks can streamline this process by utilizing BoldSign’s form fields when creating the account opening form. They can add the required form fields specifying the required values during the document or template creation. Customers will only be able provide information in proper formats, saving revision time.

For further details refer to this article: Form fields.

Configure fields page
Configure fields page

Templates

Templates in BoldSign provide predesigned forms that can be customized and reused for various account opening scenarios. Banks can create different templates for various account types (checking, share, business, etc.) or specific regulatory requirements. By using templates, banks can ensure consistency, accuracy, and compliance in their documentation while saving time.

Learn more about Templates.

Prepare template page
Prepare template page

Signer authentication

Signer verification methods such as email OTP, SMS OTP, and access codes safeguard access to sensitive documents. On opening a document, signers are prompted to input a verification code, ensuring that only authorized individuals can interact with and sign the documents.

In addition to these signer authentication methods, the platform also employs an ID verification feature. KYC regulations require banks to verify the identity of their customers to prevent fraud and money laundering. The KYC process includes ID card verification, face verification, and document verification, such as utility bills as proof of address. During the identification process, banking institutions can extract information from these IDs (name, address, photo) and store it in a system of record for audits or other verification purposes.

By implementing these features, banks demonstrate their commitment to security and compliance, fostering trust with potential customers.

Authentication options
Authentication options

User-friendly interface

An intuitive and easy-to-use interface is key to a smooth online experience. BoldSign’s user-friendly interface simplifies the account opening experience for both customers and bank staff. Intuitive navigation, clear instructions, and interactive features guide users through each step of the process, reducing confusion and minimizing errors. A user-friendly interface enhances customer satisfaction and increases efficiency in account opening operations.

Mobile accessibility

BoldSign’s mobile accessibility enables account opening to be conducted anytime, anywhere, using smartphones or tablets. Customers can initiate and complete the account opening process through a mobile-friendly interface, enhancing convenience and accessibility. This caters to a growing tech-savvy population who prefer the convenience of phone applications.

BoldSign mobile app
BoldSign mobile app

Custom branding

Banks can customize the branding in BoldSign to align with their corporate identity and branding guidelines. This includes adding logos, color schemes, and brand elements to the user interface and documents. The brand logo will be displayed on the signature request email, creating a cohesive and professional experience for customers, and reinforcing brand recognition and trust during the account opening process. For further details, refer to this article on how to create a brand in BoldSign.

Create New Brand page
Create New Brand page

Tracking signature requests

Both the bank and the applicant receive instant alerts when documents are sent, viewed, or electronically signed. This eliminates the uncertainty of waiting for physical documents to be received and processed. Real-time notifications expedite the account opening process and keep all parties informed.

Notifications
Notifications

Security and compliance

BoldSign prioritizes security and compliance by implementing robust encryption, data protection measures, and adherence to industry regulations and standards such as the ESIGN, GDPR, and eIDAS. Banks can trust that customer information and transactions are secure and compliant with regulatory requirements, mitigating the risk of data breaches and noncompliance penalties.

BoldSign also provides an audit trail of all account opening activities, including document access, changes, and signatures. This ensures transparency, accountability, and regulatory compliance throughout the account opening process. Banks can track and trace every step of the customer onboarding journey with a robust audit trail for internal and external review purposes.

Signing language

Configuring the language settings for signers allows them to receive a signature request in their preferred language. Additionally, signers have the option to adjust the language during the signing process.

Language options
Language options

Custom legal terms

Incorporating customized legal terms into your branding guarantees that signers acknowledge and consent to the terms and conditions governing the signing process and data collection.

Custom legal terms option
Custom legal terms option

The signing procedure

With BoldSign, the signing process for opening an account becomes streamlined:

  1. Open the link received via email by clicking the Review and Sign button.
  2. Review and Sign link
    Review and Sign link
  3. Read and agree to the disclosure terms. Then click the Continue button and you will be directed to the signing page.
  4. Disclosure terms
    Disclosure terms
  5. On the signing page, click the Start Signing button to begin signing the document. Once you've reviewed and signed all necessary sections, click the Complete Signing button to finalize the process.
  6. Signing page
    Signing page

Conclusion

BoldSign offers significant advantages for banks in streamlining and improving the account opening process. With BoldSign’s eSignature capabilities, banks can modernize their operations and enhance the customer experience. Try BoldSign today by signing up for a 30-day free trial and experience the convenience and efficiency it brings to account opening procedures.

We value your feedback, so please feel free to drop your thoughts in the comments section below. For further clarification or to explore BoldSign’s features in more detail, you can schedule a personalized demo or contact our dedicated support team via our support portal for assistance.

Picture of Evans Omondi Otieno

Evans Omondi Otieno

Evans is a Technical Assistant at BoldSign. His passion lies in creating high-quality content for users through effective documentation. His multifaceted skills encompass technical expertise, creativity, and a keen understanding of user needs.

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Picture of Evans Omondi Otieno

Evans Omondi Otieno

Evans is a Technical Assistant at BoldSign. His passion lies in creating high-quality content for users through effective documentation. His multifaceted skills encompass technical expertise, creativity, and a keen understanding of user needs.

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