UniCredit Bulbank reports significant growth in the electronic signing of banking documents

Source: UniCredit Bulbank

From the beginning of 2022, UniCredit Bulbank reports a significant increase in the number of people willing to sign documents for lending and non-lending products and services electronically in the small business segment. According to the Bank’s data, over 10,000 electronic signatures are accepted monthly through the Evrotrust platform, with approximately 20% of them in the small business segment. The service is available both through the Evrotrust platform and through electronic signing with a qualified electronic signature (QES). It is available in the entire branch network of the financial institution, with the highest number of electronically signed documents reported in the cities of Sofia, Varna, and Plovdiv.

Electronic signing gives customers the freedom and flexibility to not spend time visiting a branch. At the same time, it provides the possibility to sign the agreement by several representatives simultaneously, which is often required in transactions with companies, which further optimizes the time of customers and speeds up the procedure.

“At UniCredit Bulbank, we pay special attention to consumer behavior, because it is precisely this indicator of how effective service is and how it satisfies customer needs. From the beginning of 2022, we report a 66% increase in the preferences of legal entities to sign their agreements electronically, and we expect the increasing trend to be maintained. This trend confirms that companies increasingly prefer the convenience of digital services, which is a step in the direction of faster and more sustainable customer service,” – commented Ekaterina Kirilova, Branch Network Director at UniCredit Bulbank.

According to the Bank, customers most often sign digitally loan agreements and additional documents related to their utilization. At the beginning of 2022, UniCredit Bulbank provided its customers with the opportunity to apply completely remotely for mortgage loans, and to sign their agreements electronically. During this term, the bank reports over 120 electronically signed mortgages and nearly 500 electronically signed overdraft agreements. The Bank’s calculations indicate that with 120 remotely signed mortgage agreements, the printing and use of more than 6,000 pages of paper have been saved, which contributes to the preservation of the planet’s tree stock.


Source: the Bank`s press release dated August 03, 2022