Beneficial Bank (NASDAQ: BNCL) announced today that Beneficial Equipment Finance Corporation (BEFC) 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 Beneficial Equipment Finance Corp. “This innovation is part of a company-wide 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.
Beneficial Equipment Finance Corporation is a nationwide commercial equipment financing company and subsidiary of Beneficial Bank.
For more information, visit the Beneficial Equipment Finance Corp. website.
About Beneficial Bank
Founded in 1853, Beneficial Bank is the oldest and largest bank headquartered in Philadelphia. With over 60 offices in the greater Philadelphia and South Jersey regions and approximately $5.9 billion in assets, Beneficial is a full service financial institution whose product offering includes commercial, consumer and real estate lending, equipment finance, and insurance. Beneficial has been committed to providing financial education to individuals and businesses in the Delaware Valley for more than 160 years. Visit www.thebeneficial.com for more information.