Efficiency and user-friendliness are the main reasons companies decide to digitalize their processes. Those who bring their customers to the conclusion of purchase more quickly and make it as easy as possible for them always do so more rapidly than the competition. This is more true today than ever before; thanks to smartphones, everything is just a few clicks or swipes away.
I am, therefore, delighted that we are now entering the German market with Swisscom Trust Services to help companies take the next step in digitalization. Together with our solution partners, we enable smooth identification processes and electronic signatures at a qualified level and provide the basis for innovations and new business models in a wide range of industries.
A qualified electronic signature requires the user's identification to confirm that the person signing a contract is who he claims to be. We have various partners for this to make this procedure as less cumbersome as possible and to prevent a media disruption, which renders a trip to a branch or the mailing of a contract obsolete.
With the BankIdent procedure, for example, users can go through the entire customer journey and identify themselves "on the go" via their bank account. This is simple, convenient, and compliant with the EU-wide eIDAS signature regulation. As a result, these processes can be massively accelerated, which reduces the bounce rate and thus increases the number of conversions.
Numerous companies (especially in the banking sector) have already recognized the potential and integrated our cloud-based signing service. This makes us the only European provider offering the qualified electronic signature, according to eIDAS and the Swiss equivalent, ZertES.
The electronic signature and the resulting complete digital flow of business processes provide companies with more efficient processes. In addition, it is the cornerstone for new possibilities to develop innovations in customer communication and realize business models that were not possible before. Customers are no longer forced to get up from the sofa to have a consultation, sign a contract, apply for a loan, or buy a car. Companies can, of course, continue to offer processes that involve direct interaction, but purely for considerations that promote sales or aim for even closer customer loyalty, not for the formal components that are detrimental to these considerations.
Since time and costs are also eliminated, entirely new business models emerge. Insurance companies can offer their customers policies with concise terms and small amounts, which is impossible on paper because they are too cumbersome and expensive. Still, they are easy to book via smartphone. In combination with the sharing economy, there is enormous market potential here.
Other exciting use cases can also be found in the HR sector, where employment contracts can be sent and signed quickly. Applicants can conveniently receive, sign and return it via digital channels, which makes the process faster and therefore reduces the bounce rate because the candidate is talking to many others in the meantime.
You see, there are countless use cases. If your company has a solution that can be improved through trust services, please drop me a line. So far, we have found a suitable solution for every industry challenge.