Bank Millennium has launched a feature of the digital documents exchange in Bank’s Millenet online banking system. The document exchange module is the next stage of digitization of business processes for banks’ customers. More than half of loan agreements with business customers are signed digitally using an electronic signature, and the number is constantly growing.
The document exchange module in Millenet for companies enables two-sided sending of documents both by the bank and by the customer, with the possibility of adding comments by each party. Both the customer and the bank have the option to approve or reject the documents sent until both parties negotiate terms appropriate for each party. The module allows to attach documents containing a qualified signature, and each version of the document sent to the customer is provided with the bank’s electronic seal.
After the bank submits the documents, the customer receives an SMS with information about the provided documentation. The new document exchange module is divided into three categories – documents that require signatures of two parties (agreements), documents that require only the customer’s signature (declarations, consents), and documents that do not require a signature (regulations). Depending on the type of document in circulation, the module adjusts required and possible actions, both on the bank’s and the customer’s side, which makes the solution user-friendly and intuitive. Documents always remain in the same place in the system, so they are available to all persons in the company authorized to operate the document exchange module. It also allows you to view the entire history of correspondence and transferred files.
„The level of digitization of loan agreements concluded as part of corporate banking is very high, but our goal is to fully digitize key operational processes, including the loan process. The possibility of a two-way exchange of electronically signed documents is one of the stages of change. We carry out further implementations in this area, engaging business customers in them to keep track of their changing expectations and to ensure that their daily experiences with our services are at the highest level,” – said Andrzej Gliński, Member of the Management Board of Bank Millennium.
„All digital services introduced by us are widely consulted with customers at the design stage. It is necessary to precisely define the final needs of customers and listen to their voices when working on new solutions. We prepare services together, using the latest technologies for this purpose. In addition, the exchange of documents with companies using online banking allowed us to enter a new, even higher level of security,” – said Antonio Pinto, Member of the Management Board of Bank Millennium.
Source: Bank’s press release from July 09, 2021
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