As of this week (commencing 9 November), Auswide Bank has implemented a digital option for customers to sign their home loan offer documents.
Customers will be able to utilise MSA National’s DigiDocs solution – which utilises the DocuSign platform – to deliver, sign and return loan documentation digitally in real time via desktop computer, laptop or mobile device.
According to Auswide Bank, while the move is “not intended to fully replace the paper option”, the change “gives the customer a choice of how they wish to sign their documents”, and provides a method of return “without the current postage delays of paper documents”.
The bank noted that in the jurisdictions where mortgages still need to have “wet” signatures and returned via post, customers will be able to utilise a “hybrid model”, where they sign all but the mortgage, digitally.
The addition of electronic signatures has been introduced by many lenders to further simplify the application process amid the COVID-19 pandemic and resulting social distancing requirements.
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Annie Kane is the editor of The Adviser and Mortgage Business.
As well as writing about the Australian broking industry, the mortgage market, financial regulation, fintechs and the wider lending landscape – Annie is also the host of the Elite Broker and In Focus podcasts and The Adviser Live webcasts.