NextGen.Net has just announced the launch of eSign, an electronic signing functionality within the ApplyOnline Supporting Documents service.
The shift to enable electronic signatures further streamlines the application process for brokers, helping to create an end-to-end secure solution within the familiar and highly trusted environment of ApplyOnline.
“eSign enhances the broker process and makes it significantly easier because it integrates with any third party that provides an online signature service, thereby eliminating duplication and error,” says NextGen.Net sales director Tony Carn.
“It also saves time because it removes the need to print forms, get them to the borrower and then collect a ‘wet signature’.”
Traditionally, brokers have experienced a multitude of difficulties in attaining applicant signatures manually, which inevitably delays the application process, especially when it entails physically taking documents to borrowers for signing.
eSign provides a simple and easy process for the applicant to sign from any location and on any device.
“If a party is not present on the day, documents can be sent electronically, received and signed within a matter of minutes,” Carn says.
“Lenders nominate which documents can be signed electronically, and brokers have the ability to send, track and receive signed documents within ApplyOnline.
“From the lenders’ standpoint, eSign makes their job far easier and smoother from the beginning because they can verify that applications are signed when they receive them.
“Lenders can’t start processing an application until they have a verified signature, because part of the process is a credit check, and for that a signature authorisation is required.
“Getting a legally binding signature electronically means lenders will no longer have to manually check applications.”
eSign enables brokers to send specific documents to applicants for electronic signature via providers such as DocuSign®, within the ApplyOnline Supporting Docs environment.
It allows lenders to directly integrate with electronic signature providers, completing approvals and settlements faster, all via a highly secure method of transmission of signed documents.
Carn explains: “One of NextGen.Net’s key tenets in our road map for processing applications is the eradication of the need to email key documents, which from a security perspective has always been incredibly unsafe.”
He says from a security point of view “eSign ticks all the boxes”.
This new functionality demonstrates NextGen.Net’s commitment to innovate and deliver revolutionary, user-friendly technology to brokers and lenders.
“The launch of eSign personifies one of the core principles of our mission statement, which is the value of developing and maintaining a strong product and innovation road map,” Carn says.
“At NextGen.Net, we comprehensively invest in research and development and remain committed to enhancing functionality and user experience in ApplyOnline by delivering continuous innovation.”
Industry expectations are higher than ever for fast turnarounds coupled with error-free processes.
The launch of eSign is a key milestone in the evolution and simplification of the loan application process.