The “Customer Spotlight” series shines a light on DocuSign customers who are benefiting from accelerating their business processes with digital signatures.
Kevin King, Change Portfolio Manager, Digital End to End Technology at Allied Irish Bank (AIB), reveals how DocuSign dramatically reduces time to funds from nine days to just a few hours, accelerating the bank’s digital transformation.
Kevin, why is doing business digitally important to AIB?
We have a paperless agenda. We’re a large bank with lots of paper-based processes, so digital transformation is key to AIB’s strategy. For the last three years, we’ve been investing in new digital tools that can really enhance the customer experience, and also advance our simple and efficient agenda within the bank.
Tools and technologies like DocuSign are helping us improve the customer experience end-to-end, and enabling a more cost effective service.
What is AIB’s specific use case of DocuSign?
We’ve transformed the car finance proposition and DocuSign has been a key part of this. We have 300 dealerships around Ireland that are using DocuSign to digitally sign for car finance.
We have a great customer engagement platform. Putting DocuSign into the equation has elevated this from a customer experience perspective and helped convert sales, by narrowing the window between approval and funds transfer. It used to be a post-based process, taking days before getting a signed document back. That document could be signed incorrectly so the process could elongate further. We’re now down to a window of hours for signing and fund transfer.
Are you using DocuSign’s API for a custom integration?
The first use case was an API integration. We embedded it into a web portal we have. Car dealers have access to a web portal where they can apply for car finance on behalf of their customer. They get the approval and then we link from the portal to the DocuSign website.
We got a lot of support from DocuSign, both from the materials available on the DocuSign website and from professional services, who really helped us understand what the product can do and how we needed to integrate it into our systems.
How important is security to your organisation? Did this factor into your decision to go with DocuSign?
Security was a key reason for choosing DocuSign. Location of the data centres was also key. Other vendors we looked at outsourced their data centres, whereas DocuSign owns its data centres. That gave our information security, legal and compliance teams added comfort that security is inherent to DocuSign.
What do you value the most about the technology?
The speed, efficiency and, security. The audit trail at the end of the process shows what happened when it happened and who was involved in the transaction. It’s great for us to be able to demonstrate that. The speed and automation are great and an example of how we can improve the customer experience and take the cost out of the process.
We’ve had to get adoption right within our organisation in order for it happen with our customers outside it. Internally, stakeholders are really starting to see the possibilities of DocuSign.
Have you experienced any tangible results with DocuSign in place?
The key measurement we talk about now is the time to decision. We’ve radically addressed that through our digital sales portal. Where DocuSign plays is in the time to funds – this has reduced from up to nine days down to hours. These are two measures which contribute to a transformed customer experience.
Costs have also been positively impacted as DocuSign has enabled us to take paper out of the equation and remove pain points associated with manual paper-basedased processes.
Since your initial deployment, have you begun using DocuSign in other departments and on other use cases?
The more areas in AIB see what DocuSign can do, the more interest and demand has increased for DocuSign enabled solutions. Initially, we have used DocuSign with car dealers distributed across Ireland. Other active use cases are integrated with AIB Internet Banking, with business customers, approved for lending, logging into a secure site to sign via DocuSign.
My organisation has a multitude of use cases that would benefit from a DocuSign-enabled process. We’ve been focused on the lending space to date as the consumer and corporate lending processes are ripe with opportunities to simply. When we look at HR and sourcing, even simple internal workflows, there are lots of opportunities there also. Like everything, we have to assess each use case and pick the right ones where we’re going to get the ROI.
Thanks for talking to us, Kevin!