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100% digital credit subscription

05/13/2008
Innovation
French Financial Institution Finaref, part of Crédit Agricole, has launched a bank credit subscription 100 % digital. Clic & Sign is a convenient, modern and easy way to obtain a credit. Applicants need to fill a secured form regarding projects, personal details, condition and resources. The following step consists in uploading documents such as personal ID, bank details and financial resources proofs. Finaref will check the application details and will decide whether it is acceptable or not. If accepted, the bank will send the subscriber a text message with an electronic ID. The e-ID will allow the applicant to process to the voice record. Once the voice message recorded, the customer can finalise his bank credit thanks to an electronic signature. This innovative process is based on QuickSign solution.
Perspective
Clic & Sign definitely makes of Finaref a forerunner in digital credit in France. In 2006, Finaref had developed an e-signature process for its customers. The success encountered allows now the bank to widen its electronic solution to new prospects. Clic & Sign is a premise of new kinds of contractual relationship from the account creation until its management. This innovation allows Finaref to boost on-line sales and dramatically reduce the subscription process from a couple of days to a couple of hours.
Online sales are growing very fast, in France, e-commerce increased of 37% in 2007, according to the Fevad (e-commerce and distance selling federation), and it should keep on rising for the coming years. So, proposing digital financial products is a stake for banks and eagerly-anticipated by web users.
 
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