New software to deliver faster broker compliance

Connective CEO Glenn Lees said DocuSign enhances the security of signed documentation because the audit trail that sits behind each electronic signature is very detailed, and can identify with a high amount of precision and certainty who actually signed the document.

“In many ways, it’s far more secure than sending a paper document off to be signed,” he told The Adviser.

“DocuSign fully complies with all Australian law for electronic transactions and signatures, and is fully enforceable.”

Initially, Connective brokers will be able to use DocuSign for compliance documentation including consent forms and preliminary assessments.

“We’re really excited about our partnership with DocuSign and the efficiency and security it will bring to our members and their customers,” Mr Lees said.

“DocuSign is the global leader in electronic signatures – we believe it will become the de facto standard in the Australian lending industry, and we wanted to partner with the best of breed to give our brokers and their customers a competitive edge in the rapidly changing digital landscape.”

Mr Lees said many of Connective’s lending partners are already using, or are in the process of implementing, DocuSign into areas of their business, and that it is only a matter of time before it becomes commonplace in the third-party channel.

“Our aim is to have our members and their customers ready and accustomed to this way of doing business as soon as possible,” he said.

DocuSign is already being commonly used in the US, with a large proportion of property transactions being completed using the software, Mr Lees added.

Connective will pilot the software in December, with a full roll-out of DocuSign to be completed in the new year.

[Related: Brokers receive ‘signature-less’ application system]