"Often application processes are delayed by complications in administrative procedures like signing documents."
The e-signature feature, which allows documents to be signed electronically from anywhere in the world, benefits both brokers and customers by improving accessibility, alleviating unnecessary delays to the application process and reducing advisers' reliance on paper-based processes.
The e-signature function uses geo-location data and time stamps to authenticate the identity of the individual signing the document and provides a safe and secure way to sign documents electronically.
The new functionality also facilitates regulatory document acknowledgement through digital read receipts, particularly for documents such as Initial Disclosure Documents and Key Facts Illustrations.
Pradeep Raman, founder of Burrow, commented: “Often application processes are delayed by complications in administrative procedures like signing documents. Such obstacles may include an individual with limited access to a printer or being unable to meet an agreed time and date for an appointment – both end up wasting the adviser and the customer’s time.
“E-signatures overcome these barriers and make the application process fast and easy. Following on from the pandemic, people are ready to embrace technology and use it to improve the overall mortgage process.”
