Oh How I Wished for Digital Signatures

Posted by Lisa Hochgraf

The Friends of the Mendon Public Library here in Mendon, N.Y., elected new officers at the February meeting. Yours truly is again president, but we have a new treasurer and secretary, which means it's time to update the signature cards on our checking and savings accounts.

We gave it a shot last week. The new treasurer called and said I should stop by the organization's bank (I know, I know, but it's a big library supporter) and sign the card. She'd stop by later and pick it up and take it to the secretary to sign.

We got our wires crossed.

The treasurer arrived before I did and picked up the cards. Since her son was home with a bad ear infection, I couldn't stop over to her house to sign ... and she leaves today for her vacation.

Needless to say, we're going to deal with it when she gets back.

I imagine that a digital signature arrangement--especially one that allowed each of us to sign from our own desktops--could have made this process much easier.

Has anyone had personal experience with online account opening/signature card updating? I'd like to hear how it could be done a simpler, better way.

 

Comments

[Morriss Partee]

In the real estate field, DocuSign is growing at a fast clip. Personally I'm surprised that DocuSign or equivalent hasnt' taken over every field already, but some people are slow to change.

You can imagine how important DocuSign is in the real estate field, where signatures are constantly required from a variety of sources and locations in EVERY single transaction... buyer, seller, mortgage holder, mortgage grantor, buyer's attorney, seller's attorney, buyer's brokerage, seller's brokerage, building inspectors, contractors, repair people. And that's just on ONE transaction. DocuSign is clearly a life saver for Realtors. But it is no less useful for financial transactions. Loan officers can be freed up to travel onsite to the borrower's place of business, and further documentation can be handled via DocuSign.

I don't know the details of DocuSign, but it is used for legally binding digital signatures, so I can't see why any credit union would not already be using it constantly.

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