On June 30, 2000, the E-Signature Act was signed into law. An e-signature is an electronic sound, symbol or process attached to or associated with a contract or other record and used as the legal equivalent of a written signature. While the new law was passed in 2000, it has been rather slow in adoption. Most of us are still not quite sure how we are to take advantage of this regulation to improve services for our customers. The benefits of using e-signature system are plentiful...it allows your online services to have the same reach and ability, along with ease of use, for your customers, as do your physical locations. It saves you money by reducing the amount of paperwork and paperwork processing your institution has to do. It saves both you and your customers' time, by speeding up the processes through their utilization of your online delivery channel, by allowing them access to all of your services without ever needing to come through the doors of your brick and mortar establishment.

Now that we've established clear benefits of having an e-signature system in place, why hasn't it taken off? Four factors come to mind: 1. Security - it must be secure for both them and you, 2. Ease of use - Your customers must find it easy to use, 3. Compliance - the offering must be compliant with regulations and 4. Cost - the cost of deployment must be reasonable.

So far, these issues have prevented financial institutions from offering e-signature based services; however, you now have an opportunity to begin introducing your customers to the benefits of e-signature without sacrificing or worrying about any of the above concerns, using uMonitor's uOpen & uFund&trade. This is where you will utilize e-signature - one-time - when your customers' open their accounts. The process of confirming user identification and authentication is already part of the standard service. Your concerns regarding compliance and security are taken care of by uMonitor services. There is no additional cost to offer e-signature with uMonitor solutions. You will not only improve user experience with your service, you will make your customers comfortable with this new approach, which in turn, will later expand your customers' relationship with your institution.

Now, uCan do e-signature with uOpen & uFund&trade, by uMonitor. Call us for the answers to your questions about e-signature and the benefits it can provide to your financial institution.

Please contact uMonitor for a free consultation with your online account opening ambitions. Call 901.757.1212 x 7118 or email us at sales@umonitor.com for an introductory meeting to share our latest state of the art solutions to drive deposits to your institution today.