Depending on their preparation and format, credit card applications can present challenges for banks. If applications require in-person meetings for signatures, they become time-consuming endeavors. Banks must coordinate schedules with applicants and manually keep track of each applicant’s documents. On top of these hurdles, compliance concerns arise with traditional paper-based systems. If one part of this process doesn’t go smoothly, customers become frustrated, and banks suffer increased customer acquisition costs and slower processing times.
BoldSign offers an effective solution to these challenges. By digitizing the signature process, BoldSign allows banks to collect signatures remotely, eliminating the need for in-person meetings. It ensures secure management and electronic storage of documents, significantly speeding up the application process, and ensuring compliance with digital signature regulations.
Optimizing credit card applications with BoldSign features
BoldSign offers a suite of features designed to streamline the credit card application process. Here’s how each feature can enhance efficiency:
Credit card application form template
The bank prepares a structured credit card template using BoldSign. These templates are designed to comprehensively gather all the required information from applicants, providing a uniform and smooth process for everyone.
The electronic credit card application forms will include mandatory form fields for personal, financial, and contact information, ensuring consistency throughout all submissions. This standardization of the template form ensures that regardless of the applicant’s identity, every application adheres to the same criteria.
Global reach and language choice for signers
By utilizing BoldSign for credit card operations, banks serving international clients can expand their global presence and offer support in various languages. BoldSign supports 15 different signer languages, enabling banks to customize the language selection for each signer during the application process. This ensures that the diverse language needs of their customer base are effectively met.
The following image shows an email notification for a signature request presented in the German language, utilizing the BoldSign platform:
The following screenshot shows the signing interface presented in German:
For more information, please refer to the following link on language selection for signers.
Priority signature sequence with signing order
The signing order feature ensures that documents are signed in a specific sequence, enhancing document organization. This eliminates confusion about who needs to sign when and reduces the risk of missed signatures. Implementing this feature allows banks to establish a structured workflow, streamlining processes and enhancing oversight.
Convenience: eSignatures anywhere, anytime, on any device
Once the bank sends the electronic signature request through BoldSign for the credit card application, the applicant enjoys remarkable flexibility. They can sign their application from anywhere, at any time, using various electronic devices, including desktops, laptops, smartphones, and tablets, if they have internet access. Whether the applicant is at home, in the office, or on the go, they can complete and submit the credit card application quickly and easily.
The applicant for the credit card application can conveniently review, fill out, and sign the document using BoldSign’s user-friendly interface. Upon receiving an email notification, the applicant clicks Review and Sign in the email to navigate to the document signing page where they can thoroughly review all the details of the credit card application form.
Customization of signing experience
BoldSign lets banks enhance their credit card application process by personalizing the signing experience with their logo, color scheme, and custom messages. This branding integration ensures the process reflects their company identity, offering a cohesive and professional experience to applicants.
Security and data protection
Protecting customer data, especially personal and financial information, is paramount for credit card issuers during application procedures, and BoldSign offers an effective solution.
Enhanced encryption for top-notch security
BoldSign ensures that banks benefit from unparalleled security by using AES-256 encryption, one of the most advanced and robust encryption methods in existence. This encryption safeguards customer information both at rest and in transit, offering comprehensive protection of sensitive data from unauthorized access and cyberthreats. BoldSign guarantees the privacy and security of customer data throughout every step of the application process.
Commitment to the highest data protection standards
BoldSign prioritizes security beyond just encryption for banks, adhering to leading data protection practices. It aligns with stringent industry benchmarks, including SOC 2® for information security and GDPR for privacy rights, highlighting BoldSign’s strong commitment to maintaining robust data security and privacy measures. For more details, please refer to our Security Policy.
Signing completion with eSignature
After opening the document, the applicant clicks Start Signing to fill out the form’s fields. After filling in the necessary fields, they finalize the application by providing their signature in the designated area and clicking Complete Signing to finish the process. A confirmation email is then sent to all parties involved and includes the completed document and audit trail as attachments. The bank can then securely store and access the completed document for further processing.
A quick comparison
For both credit card issuers and credit card applicants, the adoption of BoldSign can significantly enhance operational efficiency, security, and customer satisfaction. The following table is a comparative analysis highlighting the key benefits and features that make BoldSign an attractive option for credit card application process.
| Scenario | Paper-based process | Modern eSignatures with BoldSign |
|---|---|---|
| Speed | ||
| Application time | Depending on the applicant’s typing ability, filling out forms by hand usually takes more time than completing them digitally. | Applicants can complete a BoldSign credit card application online in minutes. |
| Document submission | Documents must be mailed, causing delays. | Instant electronic submission. |
| Processing time | Manual processing is slow and prone to backlogs. | Manual processing is slow and prone to backlogs. |
| Security | ||
| Data protection | Physical documents are vulnerable to theft and loss. | Advanced encryption protects sensitive data. |
| Authentication | Limited safeguards against false identity documentation. | Secure digital authentication ensures accurate identification. |
| Audit trails | Manual record-keeping is inefficient. | Detailed digital audit trails provide full transparency to all parties. |
| Convenience | ||
| Accessibility | Requires physical presence or documents to be mailed back and forth. | Sign from anywhere, anytime using any desktop, laptop, or mobile device. |
| Storage | Requires physical storage space, which makes the application prone to damage and loss. | Digital storage eliminates physical space needs. |
| Environmental impact | Paper usage contributes to deforestation. | Reduces paper usage, promoting sustainability. |
| Operational efficiency | ||
| Error rates | Prone to human error during manual entry. | Reduces errors with data validation. |
Conclusion
Thank you for your interest in BoldSign! Experience its innovative features that are transforming the credit card application process for banks and customers alike. Begin your 30-day BoldSign free trial today. Explore BoldSign’s full potential through a personalized demo and take advantage of our dedicated support for a seamless experience. If there are any other use cases you’d like us to explore in future blogs, please share your suggestions in the comments below. Happy signing!
