Auto
lenders are often in need of
eSignature software. This is because e-signing can help speed up the process of auto
loan approvals for people who cannot come into a branch and sign their paperwork. However, many auto
lenders do not know what eSignature
software to use or how they work. This is because e-signing technology changes so quickly. Auto
lenders should know that eSignatures are legally binding and can cover all types of transactions - including auto
loans. eSignatures also help auto
lenders save money because e-signing is quicker and requires less manpower.
The next thing auto
lenders need to understand is what eSignature technology they want their
employees to use at the workplace.
Electronic signature software is broken up into two types: desktop or mobile e-signing technology. Desktop e-signing
software requires that the user be at a desk and have their own computer to sign
documents digitally (either by using an app, email attachment, fax machine). Mobile e-signing tools are great for
employees who are on the go, as they do not require that users be at a desk to e-sign
documents.
This blog post will highlight five different
esignature software that you might want to consider when looking for an eSignature solution as a
business owner or
financial institution!
What is an eSignature?
An
eSignature is a type of
digital signature. Electronic Signatures are
digital equivalents to handwritten
signatures and can be used electronically as a legal signature. eSignatures can be applied to any
digital document that traditionally requires an original handwritten or printed signature like
loan terms, paper contracts, a
loan application, or even any other legal document. eSignatures are commonly used by auto
lenders, banks, insurance companies, ecommerce and more to digitize transactions, such as
loan approvals for people who cannot come into the branch and sign their paperwork.
You can use eSignatures for:
- Signing
loan agreements quickly and easily from your home computer
- Signing
loan origination packages or
loan modification packages
- Filing
documents electronically with the government instead of printing them out and mailing copies in yourself
- Signing contracts digitally in e-commerce transactions
- eSigning
documents to be sent remotely and securely
E-signature
software is a great way of cutting down on paper use. It can also cut down the time you spend signing papers in person or by mail, because everything happens digitally. eSignatures can also help auto
lenders process
loans faster and more efficiently.
Top 5 eSignature Software for Auto Lenders
eSignLive: eSignLive is a cloud-based e-signature
software that can be accessed on the go with phones, tablets and laptops. eSignLive allows you to quickly e-sign
documents from anywhere as long as there is an internet connection.
Lightico eSignature: This is a great cloud-based
electronic signature solution for auto
lenders because of its
security options. The Lightico e-signing platform can be accessed from anywhere with the use of internet and it also offers secure cloud storage that encrypts
documents before they are sent to avoid hacking or loss. This means your car
loan officer can approve
loans anytime of day or night without having to come into the branch. Lightico is a great e-signature
software for auto
lenders because it covers
loans and also
documents from other
industries, such as insurance or banking.
Docusign eSignature: This is a great
electronic signature technology for auto
lenders because of its versatility. It allows the user to attach an eSignature as an email, fax or upload it through their website and share with other people in your network. Docusign eSignatures are also legally binding which means e-
signatures are the same as handwritten
signatures. eSignature
software can also be used by car
loan managers to e-sign
documents from other
industries, such as insurance or banking when they have clients with those businesses.
Adobe Sign: Another e-signature
software that auto
lenders might want to consider is Adobe Sign. This e-signature
software can be accessed on the go with a phone, tablet or laptop and it also offers secure cloud storage for
documents. One of the best features of this
esignature software is its ability to e-sign
documents in languages other than English as long as the user has a keyboard for that language connected to their device.
HelloSign: This e-signature
software has been around for a while and it shows because it's easy to use, reliable and fast. eSignatures are legally binding and e-signing
documents can be done in one click. This e-signature
software is great for auto
lenders because it offers a variety of different formats to e-
documents, such as PDFs and Word Documents.
