Banco Paulista gains productivity and agility by using a digital signature
Reduced average time for formalizing contracts from 10 to 2 days.
SaaS (Software as a Service) Solution for Digital Signature and Workflow through the QualiSign Portal.
Streamlining the contract formalization and management and simplifying processes
About Banco PAULISTA
Founded in 1990, BANCO PAULISTA acts as a multiple bank, offering products and services in several segments: Loans to legal entities, Foreign Exchange, Gold and Structured Finance. It is the leader in the number of FIDC Custody operations and is among the largest Foreign Exchange Financial Institutions in Brazil. It also stands out in the Gold Market, being one of the main players in the market. BANCO PAULISTA's clients rely on the direct action of the Shareholders, who, in addition to exercising leadership positions in the markets in which, operate, dedicate all their experience, knowledge and relationship to provide an efficient and personalized service
Banco Paulista closed its share in foreign exchange in 2016 with a turnover amounting to approximately 20 billion dollars, 8th in volume of operations and with 29,000 operations in the primary market alone, as per a ranking released by BACEN. "A very active exchange area with a very meaningful volume of operations always needs to think about rationalizing and simplifying its processes, in addition to reducing bureaucracy to absorb the growth in demand". With this mindset, Tarcísio Rodrigues Joaquim, Director of International Operations at Banco Paulista and SOCOPA (Foreign Exchange Broker), is always guided in the search for improvements in operational processes. In 2014, he implemented the use of digital signature in foreign exchange contracts. He analyzed some market solutions and selected QualiSign, due to the ease of integration and the best cost/benefit composition offered.
Although the deployment was fast and successful, the main barrier is still the cultural shift from paper to digital. “Although the legal validity of the digital signature is unquestionable, many customers still wish to have some paper, whether for registration, for tax purposes or to attach it to the process. These are the main justifications for customers who still resist the change”, says Tarcísio.
Growth in the use of digital and electronic signatures
Despite the resistance, its use has been gradually adopted, as customers realize the benefits of adopting it. Furthermore, BACEN recently authorized the use of electronic signatures, which do not require a digital certificate. “It is an alternative that the bank is analyzing. Its adoption may foster the growth of customers' adherence to the digital world, since those who do not have a digital certificate will have the possibility to sign exchange contracts through the same subscription portal that customers already use”, said Tarcísio. In 2016, the volume of digitally signed contracts was around 30% of the total primary market and, in 2017, we already noticed an increase in this indicator.
Agility is one of the most expressive characteristics when it comes to digital signature results. This is due to the simplification and consequent reduction of the time spent in formalizing the contract when using the digital signature. “The formalization deadlines in paper format are around 7 to 10 days, while with the digital signature they are reduced to 1 or 2 days. In addition to making the process much faster, as it eliminates the remittance via courier or mail as well as the physical collection of signatures on paper, we also rationalize it inside the bank, as there is no need to pay for the signatures, which is a time-consuming and necessary process when signing on the paper," explained Sérgio José Da Silva, customer support manager at Banco Paulista.
Bye-bye, dead files
With the electronic process, cost reduction is evident, as costs to handle paper, the payment of signatures, control and physical storage for 5 years practically cease to exist. “The savings also occur with the bank's clients, since they no longer need to print the contract in 2 copies or send it to the bank by courier or mail. All of this is digitally and safely solved,” reinforces Sérgio.
More capacity and the same features
With all the improvements in the process, there was a 10% gain in productivity. According to Tarcísio, by applying the same resources, the bank was able to increase and improve its service capacity, still supporting the growth in the volume of operations
Aiding the planet
Another point that is always important is the issue of sustainability. Due to the volume of contracts in 2016, Banco Paulista avoided the cutting down of 8.6 trees, thus eliminating the consumption of 1152kw of energy and 6,480 liters of water, which would be spent to bring about this paper. It also saved the emission of 11.6 tons of CO2 that would be generated in its production. Eliminating paper means to avoid cutting trees
Security and Compliance
Nowadays, a faster and cheaper solution is not enough. It must be safe as well. Financial operations require security and traceability, that is, the entire signing and access process to the portal must be registered in accordance with the bank's security policies. The digital signature also ensures the integrity, confidentiality and authenticity of electronic information. “We have better control over who has the powers to sign for the client,” reinforced Tarcísio.
“2017 is already being a more promising year. With the better economy and foreign exchange market scenario, as well as the expanded use of the digital certificate and the possibility of using the electronic signature, we will continue to overcome the resistance of the paper culture by introducing the digital world, on behalf of a more dynamic, faster and more efficient market, with significant gains for clients, employees and the bank,” Tarcísio concluded.