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Beneficial Equipment Finance Digitizes Signatures for Commercial Clients

December 06, 2018, 06:51 AM
Filed Under: Industry News

Beneficial Bank announced Beneficial Equipment Finance Corporation has launched an electronic documentation platform via an integrated Digital Transaction Management Solution from DocuSign, to improve communications and speed up funding to equipment finance partners.

The new platform delivers live contracts via DocuSign to BEFC customers as an alternative to paper-based processing, where signers verify their identity and execute where prompted with an official electronic mark. Customers have the flexibility to review documents on their time schedule and can sign via computer, smartphone or tablet.

“The adoption of DocuSign’s digital platform is yet another move by BEFC to put our customers first and alleviates friction points that are inherent in a paper-based system,” said Jody Wagner, Vice President, Operations for BEFC. “This innovation is part of a companywide initiative to provide our customers with a convenient, fast and efficient way to finance their equipment.”

In August 2018, BEFC began rolling out documents for electronic signature on all small ticket transactions. The company anticipates an aggressive push to move all transactions toward digital signature given the simplicity and user-friendliness of the secure solution.

BEFC is a nationwide commercial equipment financing company and subsidiary of Beneficial Bank.

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