Costs cut by 10%, increased number of signed contracts
"Only a short time has passed since we started this service and we have yet to conduct a full-scale verification, but in terms of various efficiencies, we feel that the expected cost reduction of about 10% has been achieved," explained Mr Shigeta.
In addition to the reduction in operating costs, the big benefit for the bank has been an increase in the number of mortgage loans. Mr Shimizu believes that this can be attributed to the shortening of the period from the submission of an application to the conclusion of a contract, as well as the elimination of the cost for the stamps that are attached to contract documents and the cost of issuing a seal registration certificate.
Use in various banking businesses in the future
Sony Bank, which has experienced the benefits of operational efficiency from Adobe Sign, intends to consider using an electronic contract service in the future even when it makes changes to its mortgage contracts. Mr Shigeta described what he expects from Adobe Sign.
"Before we introduced this solution, there was not a little psychological resistance to using computerisation to eliminate the process of the 'exchange of paper documents.' However, now that this hurdle has been overcome, all staff members have realised that the contract process has been greatly simplified. This benefit has not only been felt by us, but also by our customers and we hope that it will be widely applicable in the future to other banking businesses that require paperwork."
Sony Bank Incorporated
Established in 2001 as an "asset management bank for individuals." Creates financial services that go beyond traditional frameworks, such as "MONEYKit", a service site based on the concept of a "money toolbox to support your lifestyle," "mortgage loans" that can be completed - from application to contract - on the Internet, "Sony Bank WALLET," a multi-currency debit service for managing 11 currencies with a single card and "Sony Bank GATE", an investment-type crowdfunding service that connects ambitious companies and individuals.