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Innovation, security, and usability driving digitisation and success for mutual fund

Jul 27, 2022 Carrie Peter, Impression Signatures.


Innovation, security, and usability driving digitisation and success for mutual fund

 

As we resume life in the “new normal” digitisation is no longer only a key tool for survival, but a valuable precursor to success as well. 

 

Recently the only mutual financial services company in South Africa focusing exclusively on graduate professionals - discovered the value of an innovative approach, as it embarked on a campaign to roll out digital signatures across its organisation. 

 

The Cybersecurity and Infrastructure Security Agencydefinesa digital signature as a type of electronic signature routinely used to validate the authenticity and integrity of a message e.g., an email, a credit card transaction, or a digital document. “Digital signatures create a virtual fingerprint that is unique to a person or entity and are used to identify users and protect information in digital messages or documents. In emails, the email content itself becomes part of the digital signature. Digital signatures are significantly more secure than other forms of electronic signatures. Digital signatures increase the transparency of online interactions and develop trust between customers, business partners, and vendors.” 

 

With this in mind, the mutual financial services company partnered with a local secure eSignatures provider to implement digital signatures across its broker and member operations. “This financial services provider spent lockdown wisely, the business worked to ensure that, when we get back to ‘life as usual’, their new, digitised broker experience is anything but normal and vastly improved,” confirms Carrie Peter, Managing Director of Impression Signatures.  

 

This strategic move is paying dividends as broker, member and customer relationships are bolstered in four powerful ways: forward-thinking innovation helping members keep pace with global digitisation; greater security, data privacy, and compliance reducing fraud risk and limiting losses; and enhanced usability, auditability, and convenience… all leading to tangible cost savings through automation, to the benefit of members’ profit share interest.

 

“This level of innovation certainly differentiates this fund in its industry and will become a compelling factor for competitors to follow suit,” believes Peter. “Add to this the enhanced security and data privacy controls offered to its broker network, and greater confidence and peace of mind are guaranteed. The true value lies in the benefits that this move passes on to the fund’s members; serving not only to strengthen relationships but drive a sound reputation for the fund and its members too.” 

 

Peter confirms that, at the end of 2021 the mutual fund and Impression were recognised with an Innovation Award for the integration of WhatsApp as a regular business channel. This offers brokers, members, and customers convenience, enhanced user-experience, and far improved services. “This includes the advent of a virtual assistant, available to all of the fund’s customers,” says Peter.  

 

The culmination of these benefits is the ultimate bottom line for most businesses: cost savings. “Essentially, digitisation has allowed the mutual fund to save money, which ultimately ends up in members’ hands, driving loyalty and instilling a culture of true mutuality,” concludes Peter. 
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