Why we went paperless
Many documents are involved in the relationship between the bank and entrepreneur clients: contracts, statements of performed works, etc. Managers spend a lot of time each month dealing with all of this.
To reduce the cost of both paper and shipping, the bank decided to switch to the electronic exchange of documents. And the time saved by the employees can be used to attract new clients.
Users of monobank I Universal Bank services are used to receiving the highest level of service. That's why when choosing a solution our main considerations were usability and security.
The bank chose Vchasno service among all available providers in the market. It allows secure exchange of e-documents verified by a qualified electronic signature (QES). Besides, it is quite easy to start using it: you only need to register on the website and there is no need to install any additional software.
What documents have been digitized
The bank completely refused from using paper documents when connecting to and providing the “Hire Purchase” service for PE-partners. Under its terms, an entrepreneur-owner of a monobank card has to open a current account at UNIVERSAL BANK JSC.
It took less than a month to prepare and launch the new process.
Now a PE-client can open an account and exchange all documents relating to the “Hire Purchase” service in e-format. This simplifies communication between the client and the bank and eliminates the need to visit a bank branch to open an account.
How it all works
The client registers on the Vchasno website, which takes a few minutes. He signs the documents required for creating an account with a qualified electronic signature/electronic digital signature (those that require it). He instantly sends them through the service of the bank, specifying the EDRPOU code and email. Within two days he receives a notification from the manager of the financial institution. That means no visit to the bank is needed, saving time for the client and making the process of creating an account more convenient. Besides, the documents exchanged between the bank and the client via the service are of full legal force, which is important in case of any disputes or inspections.
How it was explained to customers
The service is easy to understand, so there were no problems with the introduction. The bank prepared step-by-step instructions and videos on how to open an account and use the electronic exchange of documents. The fact that there is no need to take any papers to a bank branch now satisfied both customers and employees. And that means that there was no need to convince or prove the expediency to anyone.
What we got
E-document exchange saves bank employees a lot of time. Managers now work more on attracting new clients instead of boring paperwork. And this is a significant argument in favor of doing away with paper. Everyone has benefited from the e-document workflow. The bank has optimized business processes and thereby created an additional advantage for clients - user-friendly service and a simple connection procedure.
Business processes during martial law
Since the imposition of martial law in Ukraine, coordinating and signing paper documents has become a problem for many companies, and we were no exception.
We have the lion's share of our employees scattered to different corners of not only Ukraine, but also all over the world. With Vchasno service, the exchange of e-documents is possible in a matter of minutes with any person or company, regardless of where they are. Also, e-document flow enables to sign and send documents to governmental authorities, which is extremely important and necessary during the martial law period.
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