Santander Streamlines Digital Signature Processes

Santander Consumer Finance, the Spanish institution’s consumer credit subsidiary, launches a new digital signature platform for car dealers following a successful test phase. This process could eventually be implemented for signing contracts online. This bank is now focusing on the notion of simplification.

The platform called “i-click” has been designed in partnership with Dealflo, which specialises in developing Cloud-based solutions for automating and digitalising financial agreements. This tool is based on a Web browser; it does not require extra software programs or apps. It will be replacing their former solution, which used to rely on a dedicated tablet for the signature step.

After a successful test phase with a limited number of customers, this platform has been made available to the group’s entire network of auto dealers. It will be applied instead of their existing signature solutions by way of improving customer experience when subscribing financing contracts. It will also contribute to reducing related costs, as car dealers will not have to be provided additional equipment.

This launch is in line with the ongoing dematerialisation program led by this banking group. The idea is to further streamline and speed up processes for their customers and partners: they will no longer have to install external drivers or expensive equipment.

Comments – Santander: applying dematerialisation at all levels

Regulatory changes and evolving customers’ expectations have been impacting bank-customer relations. Digitalisation processes are part of this trend, both in-store and online. In this context, digital signing processes are making progress for account openings, remote subscriptions for savings products, insurance services, or even consumer credit offers, especially when dealing with auto loans.

The Spanish group’s credit subsidiary already had a digital signature solution in place, but selected Dealflo’s tool for more flexibility as well as to improve accesses to their financing products. A few months ago, they rolled out a videoconference service intended to assist borrowers when applying for a mortgage offer. These launches, as well as other examples, also stress the Spanish group’s ambition to attract 30 million customers by the end of 2018 through dematerialising their processes.