Deutsche Bank has accelerated the account opening procedure for its corporate and institutional clients through the introduction of a new digital signature.
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. Leveraging DocuSign, an industry-recognised solution for its digital signature, the bank further accelerates its client onboarding processes.
Clients to profit from digital solution
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.
Philip Sasse, Vice President and Global Head of Treasury Operations at Unilever commented: “Our Treasury team is constantly looking for new technologies to help us operate as efficiently as possible. Our global footprint means that it is crucial to continuously streamline, simplify and automate processes with our banking partners in order to be future-fit. Deutsche Bank’s e-signature solution will simplify the process of signing documents, freeing up time to spend on more value-added activities, at the same time supporting our sustainability agenda by going paperless.”
Ole Matthiessen, Global Head of Cash Management at Deutsche Bank, added: “The feedback from our clients on the digital signature is very positive. It makes it easier for our clients to do business with Deutsche Bank. Being efficient and digital when dealing with clients is a crucial part of our cash management strategy – digital signatures are hence a critical component of it.”
Fix for cumbersome collection of wet signatures
US based Honeywell was the first Deutsche Bank client to pilot the solution, approximately 12 months ago.
“In an increasingly digital working environment, we are always looking to our banking partners to help us enhance efficiencies and further digitise processes,” said 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.”
Commenting at the time the Honeywell announcement was made, Martin Runow, Global Head of Client Connectivity Products, Global Transaction Banking, Deutsche Bank AG said: “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.”
Faced with a heightened level of urgency to become more digital and connected, driven by pressuring expectations from boards and shareholders alike to become more strategic, treasury is dramatically changing.