Business Development Bank of Canada Adds Efficiencies and Convenience with OneSpan Sign
Mobile loan closings with e-signatures have reduced or eliminated the need for in-person visits
CHICAGO – August 20, 2018 – OneSpan, a global leader in software for trusted identities, e-signatures and transactions, today announced the Business Development Bank of Canada (BDC), the only Canadian bank devoted exclusively to entrepreneurs, has implemented OneSpan Sign to initiate and e-sign business loans through the bank’s mobile app.
To reduce the time it took for BDC’s account representatives to close both secured and unsecured loans, the bank built a native mobile app and integrated OneSpan Sign e-signatures. Once the mobile app was deployed, the bank saw immediate results – representatives were able to significantly reduce or eliminate the need for in-person visits by 75-100 percent.
“In a competitive selection process, we chose OneSpan Sign because of the solution’s patented visual audit trail, white-labeling capabilities, regulatory compliance and the ability to easily scale the solution across other areas of the bank,” said Business Development Bank of Canada’s Manager of IT Solutions Delivery, Jorge Oliveira. “In addition to its essential capabilities, we chose OneSpan Sign because it is trusted by the top banks in Canada and abroad.”
“Banks face a highly regulated environment with demanding business-to-consumer processes that require the ability to transact quickly and compliantly,” said OneSpan CEO, Scott Clements. “Taking advantage of proven technology specific to regulated industries like banking helps ensure success in business-wide implementations and in future-proofing business processes.”
BDC plans to implement its mobile app with OneSpan Sign across other lines of businesses as well as integrate the solution into its online portal. In nine months alone, BDC has processed more than 1,500 transactions using the app, and nearly all of its pan-Canadian business loan salesforce has adopted the tool.
OneSpan enables financial institutions and other organizations to succeed by making bold advances in their digital transformation. We do this by establishing trust in people’s identities, the devices they use, and the transactions that shape their lives. We believe that this is the foundation of enhanced business enablement and growth. More than 10,000 customers, including over half of the top 100 global banks, rely on OneSpan solutions to protect their most important relationships and business processes. From digital onboarding to fraud mitigation to workflow management, OneSpan’s unified, open platform reduces costs, accelerates customer acquisition, and increases customer satisfaction. Learn more about OneSpan at OneSpan.com, Twitter and LinkedIn.
Director of Global Corporate Communications
Media Relations Manager, North America