Credit technology company Pancredit has launched an electronic signature (e-signature) solution designed to be used at point of sale consumer credit applications.
Graham Donald, managing director for Pancredit said: "Once an application has been approved, the binding agreement and Standard European Consumer Credit Information (SECCI) are presented to the customer as a PDF.
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"The consumer is then able to sign or tick a box on the screen to confirm their acceptance. The system records the date, time and IP address of the agreement and generates automatic confirmations, which are sent to the customer, lender and vendor, making the process quick and easy for all parties."
The system can be used as a standalone solution but can also be integrated into Pancredit’s existing suite of software products.
Electronic signatures are becoming increasingly popular in the industry. In July Chris Sutton of Black Horse revealed that approximately two thirds of proposals are now completely fulfilled electronically at the bank-owned lender, while in October broker DSG announced plans to launch an eSign platform to manage finance agreements of multiple panel lenders at the start of 2015.
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By GlobalData
