The definitive guide toeSignatures in fintech

Sign

Contents
Chapter 1: Deliver an A-class signing experience  

Chapter 2: Accelerate back-office processing

Chapter 3: Bridge the trust gap

Chapter 4: Keep financial agreements secure and compliant  
Chapter 5: Build or buy?

Chapter 6: The Dropbox Sign API is built for fintech

Conclusion: Fintech won’t wait

Fintech has a customer
experience dilemma
While fintech as an industry has digitized payments, createddecentralized currencies, and offered commission-free stock trading,many fintechs still struggle to deliver one of the sector’s biggest
value propositions: a superior digital experience.

The thing is, when it comes to offering exceptional customer
experiences, fintech doesn’t set the standard; tech giants do—and
they keep moving the goalposts on what “superior” means tocustomers.  

And one of the biggest areas where fintechs are forced into a lessthan-desired customer experience is document signing, which trips
up so many workflows across the sector

Even the most impressive fintech businesses will struggle tocompete against trusted institutions if customers are turned off
before they even sign up or are forced to grapple with lengthy
paperwork processes just to transact. 

Opening accounts is a process few are getting right—with many
still requiring customers to sign paper documents or even sign inperson, facing long waits while documents are printed and errors
corrected
Loan processes are delayed by manual print-sign-scan or printsign-fax workflows

But with eSignature technology, fintech teams are delivering faster,
more cohesive signing experiences that are converting morecustomers, retaining them, and building a deeper level of trust. And
that’s not all. They’re also automating tasks to reduce errors andmake employees more productive. 

Wealth management has a long sales process that typicallyHere’s how eSignatures are helping fintech companies build more

involves multiple meetings and high error rates. 

robust signing experiences.

Chapter

1
Deliver an A-classsigning experience
While many fintech customer experiences are slick and automated,
as Liz High, EVP Strategy and Marketing at Nymbus, explains, “In an
automated fintech workflow, the minute something doesn't stack up,
you go back into a manual process. That's the point at which
additional paperwork needs to occur.” She describes this breakdown
as the point when customers either need to send you something, or
you need to send them something.

What’s more, there are a number of workflows like opening joint
accounts, disclosures, and personal information changes that are too
difficult to automate, so still require manual workflows andtraditional signatures.

In these instances, you need to preserve your customer experience as

And for customers, who have come to expect a fast and seamlessbest you can—something that doesn’t always happen. Signing

experience, it’s frustrating to navigate complex financial paperwork

maturity levels vary greatly among fintechs. Many either email PDFs

in such a slow and time-consuming way. Not only does it requireand expect customers and stakeholders to either print, scan, andreading and signing piles of documents, but it also demands multiple

send or simply figure out which third-party application to use. Butother stakeholders—customers, managers, regulators—to do theneither of these options make for a satisfying experience for yoursamecustomers. 

How embedded
eSignatures improve form
completions and speed
up signing
From what we’ve seen, eSignatures increase contract completion
rates by up to 26% compared to paper contracts. That’s because
they’re simply easier to use. For example, by using embedded
eSignatures, important paperwork is securely embedded into yourwebsite or app, so customers can review and sign important
documents immediately using any device that has an internetconnection. 

And eSignatures don’t just make signing easier, they make it faster,
too. With a fully embedded process, eSignatures can increase
contract processing times by up to 80%. 

Even when it’s not the signing process that holds up a transaction,
but the people involved, eSignatures can help. SophisticatedeSignature solutions combat this “people problem” by automaticallytracking and sending regular reminders to signers at every step of
the approval process, speeding up the process further.

“eSignatures increase contract
completion rates by up to 26%
compared to paper contracts.
With a fully embedded process,eSignatures can increase contract
processing times by up to 80%.”

Customer story

How DealMaker sliced the transaction completion timefrom 72 hours to 30 minutes
DealMaker developed a digital transaction management platform that
automates the circulation, management, and tracking of private
placement documents and funds—accelerating the capital-raisingprocess and providing significantly better investor experiences.

Before Dealmaker, a single transaction could take upwards of 70 hoursof manual complex work, requiring a professional to review, correct,
and re-circulate documents. 

Integral to providing a frictionless experience, they needed aneSignature solution that would embed into the DealMaker platform
seamlessly and deliver users a streamlined, transparent signing
experience.

With Dropbox Sign-powered eSignatures, DealMaker has transformed
its capital-raising process, realizing a 70% gain in speed and costsavings. Compared to the traditional process, DealMaker and Dropbox
Sign have reduced a 72-hour process to just 30 minutes, providing
tremendous value to all parties involved in the capital-raising process. 

"HelloSign [now Dropbox Sign] embedded beautifully into ourplatform and unlike other vendors, it didn’t require users to leave ourplatform, open new accounts or separately log in. The HelloSign [nowDropbox Sign] API helped us deliver on our mission of speed,efficiency and ease of use." — Mat Goldstein, CRO and Co-FounderChapter2

Accelerate back-officeprocessing
Not only is lengthy paperwork a chore for customers, it also weighs
down teams. Transferring information, like account holder details,and disclosure documents, from one system to another or inputting
data from a PDF into a system requires manual double-handling thatrisks introducing errors. And even minor errors in complex financial
product paperwork results in a slow signing process at best, and stiff
fines at worst.

What’s more, it chews up employee time, which could be spent on
more important tasks, like prospecting new customers.

Living up to fintech’s“digital by DNA” mantra
with eSignatures
Using eSignature solutions, you can present customers with legallybinding documents that are digital from the get-go. 

This eliminates the need for employees to double-handle
information, which cuts the chances of human error significantly.

Plus, with eSignatures, signers can’t submit forms without filling in
all the requisite fields—reducing the chances of an incomplete form
being processed.

Go even further withmetadata automationeSignature tools can reduce the administrative load even further byintegrating with other software applications to automaticallytransfer data. 

Fintechs can integrate eSignature tools with customer
management systems like Salesforce, for example, so when acustomer signs a document, all of their information is automaticallystored in a central location. 

Even better, integration is a two-way street. The Dropbox Sign for
Salesforce integration, for instance, lets employees send legallybinding documents out for signatures dectly from the Salesforce
interface, saving employees time switching between windows andjuggling different versions of the same document.

This means that your team spends less time on paperwork andmore time on selling. From what we’ve seen, eSignatures havesaved teams up to 700 work hours per year.

“[By integrating eSignature tools
with customer managementsystems], your team spends lesstime on paperwork… saving up to700 work hours per year.”Customer story

How AdvicePay reduced user contract
management time by 50%
Managing paperwork adds unnecessary steps for users and customers
alike. And that’s exactly what financial planning provider AdvicePay
discovered in the early versions of its application. 

Users (advisers) could only send invoices to clients and collectpayment from their platform. They needed to use other software fordocument signatures, which meant their clients also had to use morethan one system to work with an advisor. This was time-consuming
and prone to data errors that delayed payment or required client
refunds if contract and invoice fee data didn’t match.

That’s when they looked to Dropbox Sign. “[Now] when a user creates
an invoice in AdvicePay, our application automatically creates acontract in HelloSign [now Dropbox Sign] and pulls the invoice
amount and other key data fields into the contract so the documents
are 100% synced," says Joe Timmer, Lead Developer at AdvicePay.
“We’ve met our goal of adding eSignatures in one to two clicks, andeliminated an external workflow for our users."

For AdvicePay, the difference is huge. "Instead of having to spend
double or triple the time to create and match invoices and contracts,
it’s now done automatically, which has definitely sped up the time tomanage contracts for advisors by 50%,” says Joe.

Even better, its streamlined document management has helped
AdvicePay realize a 30% bottom-line boost for enterprise clients.

Chapter3

Bridge the trust gap
When it comes to money, customer trust is paramount. However,fintechs are fighting an uphill battle against financial institutions
people have trusted for generations—only 27% of users trust fintechs
companies more than financial institutions.

“All financial institutions struggle with trust. When people switchfrom one bank to another, the top reason is about protecting data. It’s
number one, before interest rates, before convenience. The number
one thing that makes someone switch is a lack of trust,” says Liz.

Frustratingly, this isn’t a battle any fintech can win overnight. It
demands consistent results, tight security, and an unblemishedreputation. But just because there’s no quick fix doesn’t mean you
can’t make progress. 

One way to quickly boost trust is by presenting a consistent andidentifiable brand throughout every single customer interaction. “Ifpeople recognize your fintech as a brand they know and like, thenthey will trust you that little bit more. And you start with a little bit,and then you build it out,” says Liz.

Even this minor branding adjustment can make a customer feel likethey’re transacting with an established business rather than an
unproven startup—altering customer perceptions and inspiring
greater trust in your services.

Build trust with eSignatures
While eSignatures won’t instantly make you the most trusted
financial institution in the world, they are a crucial part of building atrusted reputation.

Using eSignature APIs, fintechs can add logos, colors, and fonts tocreate a consistent brand experience across every signinginteraction. That way, transacting with you feels as legitimate astransacting with established players.

“If people recognize your fintech asa brand they know and like, thenthey will trust you that little bit
more. And you start with a little bit,and then you build it out,”— Liz High, EVP Strategy and Marketing at NymbusChapter

Keep financial

4agreements secureand compliant
Paper documentation can easily be tampered with and signatures

forged. Even if papers are locked away in filing cabinets, there’s still arisk of documents being stolen, lost, damaged, or misplaced. 

With a single instance of fraud costing companies an average of

USD$1.5 million, there are huge consequences when private andcommercially sensitive documents fall into the wrong hands.

It’s not just bad actors, though—the average cost for an organization

With such a level playing field and customers with an appetite forchange, small businesses have a unique opportunity to challenge

bigger competitors and take a larger market share. But to do that,your digital buying experience needs to match your consumers’

digital expectations.

Compliance and security
are a Dropbox Sign staple

that fails to comply with data protection regulations is also awhopping $14.82 million. 

That’s why you need to ensure every signature and document issecure, traceable, and accountable. It’s the only way to protect

everyone involved in the transactions and ensure compliance. 

eSignature solutions keep your signed agreements and consent

forms protected with advanced encryption.

Dropbox Sign has diligently built processes to keep its service

internationally compliant . 

Specifically, Dropbox Sign encrypts every document and stores it in a

SOC 1 Type II, SOC 2 Type I, and ISO 27001 certified data center.

Access to this data center is strictly controlled by security staff

equipped with video surveillance, multi-step authentication, andstate-of-the-art intrusion detection systems.

Additionally, any worthwhile eSignature tool will create a non-editable audit trail that ensures every action on your documents isthoroughly tracked and time-stamped, so you have defensible proofof access, review, and signature.

Additionally, Dropbox Sign is compliant with the following: HIPAA,the U.S. ESIGN act of 2000, the Uniform Electronic Transactions Act(EUTA) of 1999, and the eIDAS regulation for the EU of 2016 (EURegulation 910/2014).

“eSignature solutions keep
your signed agreements andconsent forms protectedwith advanced encryption.”Chapter5

Build or buy?
The benefits of eSignatures for fintechs are obvious. The
real question is, what’s the best way to implement
eSignatures into your business—build your own or buy aready-made solution?

It’s a decision no business should take lightly. Both options
have their upsides and risks. Sure, building gives you a morebespoke result, but what about all the added functionality
you miss like automated reminders, app integration, anddedicated security?

To help you make the best decision for your business, here’s
how the build versus buy debate compares.

BuildBuyTimelinesBuilding an eSignature tool yourself gives you total control
over its functionality and it can be customized to your exact
specifications. The downside is, you could be waiting weeks,months, or even years for a team of developers to build, test,
and launch your tool. Even then there’s no guarantee it’s what
you want.

Integrating eSignatures into your workflows via API is a fast
process that would take a skilled developer just a few days.
Even better, your development team can use that time saved
tackling problems unique to your business. The downside is,you have less control over which future developments areprioritized.

Security andcomplianceWith an in-house product, you have total control over how
much time and resource you dedicate to keeping everything
secure and compliant. But security and compliance demand
more than just checking a few boxes; it requires security
experts to track the latest threats, frequent independent audits
to test controls, and comprehensive privacy measures.

Integrating third-party eSignature APIs means a team ofexperts is dedicated to monitoring your signing security,protecting data privacy, and updating your tool to meetcompliance standards like SOC 2 Type II and ISO 27001.

Legal

Which areas of the law apply to your operation and which youneed to comply with is in your hands. But you’re also tasked
with building infrastructure that timestamps and authenticatesdocuments to a court-admissible standard.

Your eSignature provider maintains the legal infrastructurearound eSignatures and keeps everything up to date with thelatest legal changes to ensure your eSignatures stay legallybinding. Any worthwhile eSignature provider will offer acomprehensive legality guide.

Maintenanceand support

If you’re building an eSignature tool, you’ll need developers,engineers, and security experts on staff to maintain it andquickly respond to customer issues at the drop of a hat.

A dedicated team takes care of maintenance and updates,
keeping your signatures secure and compatible with new tech.
And if there is an issue, a support team is on hand to fix it foryou.

Chapter

6The Dropbox Sign  API is built for fintech
Here’s why the Dropbox Sign API is perfect for fintech companies.

Fully embedded
Deliver a seamless signing experience by embedding forms directly
into your website or app via API. That way, customers don’t evenhave to leave your workflow to get everything done.

An ecosystem of integrations
Dropbox Sign integrates with an entire world of other business apps
to make your business operations faster and easier.
Connect with Salesforce to send documents directly out of yourCRM
Connect with Gmail to email contracts directly from your inbox
Connect to Dropbox to store all of your documents securely in thecloud.

Custom-brand everything to suit
your aesthetic
Dropbox Sign eSignatures are completely customizable. You can add
your brand’s logo, colors, and fonts to create a consistent brandexperience in every signing interaction.

Integrate 2X faster withDropbox Sign
With user-friendly documentation, a library of SDKs, and a technicalsupport team behind you, integrating the Dropbox Sign eSignature
API only takes an average of 2.5 days.

Customer story

Pigeon Loans reduced borrowing from 2
weeks to 8 minutes—and it only took 3 hours
Seeing a unique opportunity to solve a fragmented, confusing, and notalways legally binding peer-to-peer lending process, Brian Bristol
created Pigeon Loans, the world’s first global lending platform that’s
dedicated to facilitating and enabling loans between trusted parties.

Unsurprisingly, one of the biggest parts of loan applications iselectronic signatures. Searching the market and comparing eSignature
API solutions, the HelloSign [now Dropbox Sign] API stood out toPigeon Loans.

And the results were more than worthwhile, as Pigeon Loans reduced
their loan process from 2 weeks to 8 minutes.

But just as impressive is how quickly they made it happen. “I’ve
implemented other APIs and it usually takes about a week. HelloSign[now Dropbox Sign] is using such forward-looking technology, alongwith clear and easy to understand the documentation that I was able
to do it in less than 3 hours. This was a record for me,” Brian explains.

Conclusion

Fintech won’t wait
The fintech industry is by nature a disruptive and fast-moving field.
While you’ve built an innovative solution, if you’re not leveraging
tools that deliver better experiences for your customers andincreased productivity for your employees today, you’re treading
water while the incumbents catch up. 

That’s where the Dropbox Sign eSignature API can help. With an
integration that takes an average of 2.5 days, you can deliver a better
customer experience, reduce admin, and present a credible brand—
the things you need to grow and legitimize your financial

Make Dropbox Signinnovations. 

your signature move
If that sounds good, try the Dropbox Sign API for free.

Or book a demo with our expert API team to see how eSignatures
can work for your business.

Dropbox Sign simplifies work for millions of individuals. Companies
all over the world rely on the Dropbox Sign API to power theirapplications, making it easier to close deals faster, onboard newhires, save developers time, complete documents without error, andmuch more. For more information, visit the Dropbox Sign website.