With a digital signature solution, DiBa provides a fully electronic loan application process
As part of the business the financing house, DiBa provides consumers with the opportunity for taking out a car loan. In the past, the loan process required a lot of paperwork between DiBa and the loan applicant, but because of a digital signature solution, the company offers – as the only one of its kind in Denmark – an electronic, time-saving loan process.
"In the past, when our customers applied for a car loan, we sent them a loan document and a promissory note which they had to sign and send back to us," says Jørgen Larsen, who is a Finance Manager at DiBas car financing department. ”The signature required attesting witnesses, so the applicant also had to involve friends or acquaintances in the process. Afterwards, the papers had to be put in an envelope and sent back to us. All in all, such a process could easily last between two and four days.”
The process that used to last up to four days, now takes only half an hour at best, and it is a service which we are delighted to offer our customers.
— Jørgen Larsen, Finance Manager at DiBa
Far easier process
"With the new digital signature solution, our customers get all the documents sent to them through e-mail with a link,” continues Jørgen Larsen. ”When they activate the link, they enter a web page where they can sign with their NemID. There is no need for attesting witnesses as with NemID we are confident that the loan applicant is the person he or she pretends to be. At the same time, it is far easier for our customers in this way, and we do not have to spend a lot of time and money sending documents by snail mail."
A well-known solution
The digital signature solution was a longstanding wish of DiBas, but only when the Government had committed to a universal digital signature, they thought the time was ripe. "It was important for us that our customers did not have to learn a whole new way to sign digitally with us," says Jørgen Larsen. "They already know NemID and the key card from their online bank, so it is easy for them and for us."
Good knowledge of the business
The actual solution was developed by IT Relation, which was already a supplier of the company’s customer and contract administration system. Jørgen Larsen explains, ”Over the last ten years, we have received ongoing consultancy from IT Relation through which they have helped us with various changes in the system. This is the reason why they know our business really well. At the same time, we knew that they had experience with digital signatures from other customers, so it was obvious that they should develop our new solution."
A genuine pioneer project
"We have had a very close dialogue with IT Relation about our wishes for the digital signature solution," continues Jørgen Larsen. "No one else in Denmark can handle loans electronically – at least not when this includes mortgages, as in our case – so it has been a pioneer project for both us and IT Relation. Fortunately, the project has gone beyond expectations! All deadlines and financial limits were respected, and the solution has been running amazingly well."
Being praised by the customers
In addition to saving stamps and time compared to traditional postal serves, DiBa is particularly fond of the customer satisfaction they experienced after launching the new solution. ”We frequently find that customers write to us with praise for handling the task very quickly,” says a happy Jørgen Larsen. ”The process that used to take up to four days, now only takes half an hour at best, and it is a service we are delighted to offer our customers.”
Jørgen Larsen has only positive words to say about the co-operation with IT Relation. ”We've had an impeccable co-operation for many years, and they solve all sorts of large and small tasks for us. They are competent people, and we appreciate that it is always the same people we talk to. The digital signature solution is clearly the largest project they have done for us. It is a technological quantum leap, and we are proud to be the first to do this,” concludes Jørgen Larsen.