Digital exchange of documents with companies in Bank Millennium

Bank Millennium has introduced the opportunity in corporate banking to have digital two-way exchange of documents in Millenet for Companies. The documents exchange module is yet another stage of digitalising business processes. More than half of loans agreements with companies are already signed digitally with the use of electronic signature and this number keeps growing.

– The degree of digitalisation of loan agreements concluded in corporate banking is very high; however it is our aim to fully digitalise key operational processes, including the credit process. The opportunity to have two-way exchange of electronically signed documents is one of the stages of change. We are making further implementations in this area, getting business customers involved in them in order to closely follow their changing expectations and to give them top level daily experience with our services. Thanks to this our solutions are intuitive and support operational service on the customer’s side, leading to improvement of day-to-day relationship with the bank and reduction of costs on part of the company. Our customers use digital services willingly – Andrzej Gliński, Member of the Management Board of Bank Millennium S.A., said.

– All the digital solutions we introduce are consulted broadly with customers in the design stage. It is essential to precisely define the ultimate needs of customers, to hear them out when working on new solutions. We prepare the services together, for this purpose reaching for state-of-the-art technologies. Additionally exchanging documents with companies with use of electronic banking allowed us to reach a new and even higher level of security – said Antonio Pinto, Member of the Management Board of Bank Millennium.

The document exchange module in Millenet for companies enables two-way sending of documents by the bank as well as by the customer, with the possibility for each party to add their comments. The customer as well as the bank may endorse or reject the documents sent, until both parties have negotiated wording to the satisfaction of each of them. The module enables attaching documents containing a qualified signature and each document version sent to the customer bears the bank’s electronic seal.

After the bank has sent the documents the customer gets a text with information on the documents provided. They have been divided in the new document exchange module into three categories – documents, which must be signed by both parties (agreements); documents, which must be signed by the customer only (declarations, approvals) and documents, which do not require a signature (regulations). Depending on the type of document in circulation, the module adjusts to it the required and possible actions to be made and actions possible to be made on part of the bank as well as the customer, by virtue of which the solution is friendly and intuitive for its users. The documents also remain always in the same place on the website, thus they are available to everyone in the company who is authorised to operate the documents exchange module. It also gives an insight into the entire history of correspondence and files sent.

Development of the documents exchange module in the Millenet for companies online system continues.

Author:

Bank Millennium

Last Updated on July 22, 2021 by Karolina Ampulska