finova introduces e-signatures

finova has added e-signature functionality for advisers, as part of its API-led Client Portal Module. This follows the launch of the Digital Broker Platform earlier this year.

The current application process for many home buyers continues to be heavily paper-based and cumbersome. The e-signature feature, which allows documents to be signed electronically from anywhere in the world, benefits both brokers and customers by improving accessibility, alleviating unnecessary delays to the application process and reducing adviser’s reliance on paper-based processes.

The e-signature function uses geo-location data and time stamps to authenticate the identity of the individual signing the document and provides a safe and secure way to sign documents electronically.

The new functionality also facilitates regulatory document acknowledgement through digital read receipts, particularly for documents such as Initial Disclosure Documents and Key Facts Illustrations.

e-signature is one of many functionalities that finova is building into its Broker Platform. The solution is designed to help increase customer engagement between brokers and customers, while streamlining the application processes and providing brokers with cost-efficient tools.

Some of the features included within finova are:

• In-depth digital Fact Find
• Document upload and e-signatures
• Real-time status updates
• Secure messaging
• Credit reports
• Appointment management

Pradeep Raman, Head of Digital for finova comments:

“Often application processes are delayed by complications in administrative procedures like signing documents. Such obstacles may include an individual with limited access to a printer or being unable to meet an agreed time and date for an appointment –both end up wasting the adviser and the customer’s time.

“E-signatures overcome these barriers and make the application process fast and easy. Following on from the pandemic, people are ready to embrace technology and use it to improve the overall mortgage process.”