Adding Electronic Signature to the Account Opening Process
A few weeks ago I spent some time with the folks at Signix. We walked through their offering for broker dealers and their advisors. Specifically, we looked at their e-signature and client authorization process. The way I learned about Signix was a breakout session at the SunGard conference that I attended last month in Chicago.
As I mentioned previously Signix takes on the process of the signature phase that each client goes through with his or her advisor. The difference is that they add more than just a signature pad. “SIGNiX is an electronic signature solution that provides users with the ability to securely “sign” documents, whether on the Internet, telephone or face to face.” Using Signix, Broker Dealers can “quickly execute documents, authorize transactions or obtain approvals.”
Simply put, the benefit that Signix offers is to combine the signing process with account opening process. In my effort at clarity – Signix does not participate in the gathering of account information, only the authorization and electronic signature phase. And in their authorization and signature offering the difference they offer transcends the traditional model of paper and pen based check and app and its client authorization and signature inefficiencies. Simplified, Signix’s solution ties the signature and the account opening process together in an electronic process. By tying these together Signix delivers the benefit of delivering authorization and signature data into a centralized database. Advisors and their broker dealers can leverage established data and established PIN processes for future transactions. And by combining these elements the Signix solution improves compliance, risk-management and operational processing for both advisors and broker dealers.
Today Signix is working in an add-on integrated capacity with SunGards Account On-Boarding process. Formerly owned by SunGard, Signix purchased itself from SunGard last year. I anticipate seeing more from Signix in our space in the coming months. I also anticipate seeing Signix working with other partners.
Please give us a call if we can add some additional insight.