Enhancing digital experience in Banking – Finance industry with remote digital signing
Recently, FPT Information System Co., Ltd. (FPT IS) has organized a webinar on “Remote Digital Signing”, attended by more than 200 participants, to discuss the applicability and effectiveness of remote digital signing solution for Banking – Finance industry. Particularly, FE Credit, a leading consumer finance company in Vietnam, has also attended the seminar and presented a number of valuable practical experiences.
Delivering an opening speech, Mr. Luong Ngoc Khang, Director of FPT IS Digital Transformation Consulting and Solution Design Center, says, 90% of banking transactions are taking place on digital channels, meanwhile, he also affirms that the trend towards digital transformation and paperless banking will explode in the coming future. Accordingly, eKYC, digital signature, and digital authentication solutions are the keys for banks and clients to “get to know each other” remotely. With a suite of “Made-by-FPT” technology solutions such as FPT AI, FPT.eKYC, FPT.eSign, FPT.eContract, etc., the transaction time between banks and clients is reduced to less than 10 minutes, comparing to nearly 1 hour as before.
The seminar is attended by more than 200 participants.
According to Ms. Ngoc Tran, Business Strategy Director of Trusting Social, a partner of FPT IS, customer understanding and customer experience optimizing model based on digital technologies is opening up completely new approaches in service provision in banks. Currently, Trusting Social is working with FPT IS to deploy remote digital signing solution, aiming to promote faster and stronger digital banking services. The solution by FPT IS allows direct signing on mobile phones and tablets without using USB Token in a faster, safer and more cost-optimized way.
FPT IS is one of the first company in Vietnam to research and develop remote signature with the trade name of FPT.eSign. The solution is built and developed to target practical issues of banks and financial institutions, compliant to the strict standards of TayllorCox and officially licensed by the Vietnam Ministry of Information and Communications. “Where there is digital transformation, there is a digital signature. Digital signature is just a small part of general digital transformation process of banks or enterprises, however, unless digital signature is deployed, digital processes or services cannot be fully implemented 100% online,” affirmed Mr. Le Viet Cuong, Director of Digital Signature Authentication Service Center, FPT IS.
Mr. Le Viet Cuong, Director of Digital Signature Authentication Service Center, FPT IS.
By implementing FPT IS’s remote digital signature solution, FE Credit has been gradually creating outstanding competitive advantages in the market. Ms. Dinh Thi Thu Hang, Head of Procurement of FE Credit, says the company currently has more than 16,000 employees, 21,000 service points, more than 12,000,000 clients, and more than 10,000 documents to process every day. After cooperating with FPT IS to deploy remote digital signature solution, the time to execute a loan contract at the company has been reduced from 2-3 days to 10 minutes, eliminating various complicated paperwork processes.
“FPT IS and FE Credit have effectively implemented the signing process on digital platform, ensuring legality in accordance with Vietnamese laws. The implementation of remote digital signature also makes it easy for searching and storage, serving the needs of reconciliation, especially meeting the requirement of 3-10 years of storage for all loan contracts”, affirmed Ms. Hang.
Ms. Dinh Thi Thu Hang, Head of Procurement, FE Credit.
Positive changes seen at FE Credit are the result of its determination to catch up with trends and implement digital technology solutions. Besides FE Credit, FPT IS is working with companies in Top 10 consumer lending businesses and a number of large banks to deploy remote digital signature, delivering new digital experiences and more benefits for users, accompanying organizations and companies to leap forward in the digital era!
Read more about FPT.eSign here.
