e5 for Signature Verification

Signature verification introduced seamlessly from within e5 reduces the time and effort taken to verify financial authorisations.

 

1. Business Situation

An investment advisory company wasted significant time and effort verifying signatures on documents. It is estimated that each signature verification took over 4 minutes to complete.

The firm was inundated with paper. Long application forms were passed from desk to desk. The form stacks were often split into sections and redistributed.

Signatures had to be verified prior to performing many actions, for example a change of bank account details. This involved comparing the signature on the paper document with a stored version. Any changes to the signature, for example a change of name, required separate scanning and updating via third party software.

 

2. Solution

e5 was introduced and as a result, the many benefits of removing the paper chase were immediately felt: no more lost documents; time saved from distributing documents electronically; the benefits of working against Service Levels (SLA’s) to get the most urgent work done first; as well as workflow management ensuring all required steps are completed to process the work.

In addition to standard e5, signature verification was introduced. Users with the relevant role can copy and paste signatures from scanned documents and store them against the client in a central file. A full audit trail is maintained detailing date, time and user information. Signatures can be overridden or multiple versions stored, for example when a surname is changed.

As part of the workflow process, the user compares the signature on the scanned document to the stored version and the workflow is flagged as passed or failed. This verification is quick and simple.

 

3. Benefits

Significant time has been saved (approx. 4 minutes per work item) by introducing the signature verification process. The system is simple, quick and convenient.

 

Products and Services Used

  • e5 Workflow
  • Microsoft SharePoint
  • Third Party scanning software