idc report: eshangbao electronic signature completes the "gorgeous transformation" from key to ecology
2024-10-02
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recently, idc, the world's leading it market research and consulting company, released the report "esignature: providing full-ecological electronic signature services for the financial industry" (hereinafter referred to as the "idc report"). according to the idc report, in the financial industry, from the issuance of credit cards in the banking industry, the signing of account opening agreements, credit authorization letters, loan contracts, etc. in online finance, paperless signing of counter business, corporate open accounts, etc., to electronic signature technology has been widely used in many scenarios such as financial leasing service agreement scenarios and paperless asset management scenarios, as well as online insurance, electronic insurance policies, and broker cooperation agreement signings in the insurance industry.
the financial fields such as banking, insurance, and securities are different from other industries. various scenarios, from opening accounts at the counter to moving financial accounts, require tedious signing and sealing actions, which will produce a large number of paper documents and documents, resulting in the processing of many businesses. the process is lengthy, approval is complex, and management is difficult. compared with some other fields, the electronic signature requirements in the financial field are often more complex and diverse, and the requirements for data security and certificate storage management are particularly strict.
so, what pain points are currently faced by the financial scene that require the empowerment of electronic signature technology? in order to improve efficiency, reduce costs, and enhance security, how can electronic signatures turn the "impossible triangle" into an all-round solution? compared with some peers that focus more on securities or single fields such as insurance and banking, why does e-shanbao have a relatively high proportion of service customers in the major scenarios of banking, insurance, securities, internet finance, and financial leasing? the entire financial industry what pain points does the ecological electronic signature service solve in the industry?
"electronic signature" is the key "secret key" to the digitalization of the financial industry
the digital upgrade of the financial industry is essentially the use of digital technologies such as the internet, big data, artificial intelligence, and blockchain to deeply transform and innovate traditional financial business models to improve financial service efficiency, reduce operating costs, and enhance risk management and control. capabilities, broaden the boundaries of financial services, and ultimately achieve a comprehensive upgrade and transformation of financial services. the digital upgrade of the financial industry is not only a change at the technical level, but also an all-round innovation in business models, service concepts, and management methods.
why will electronic signatures become the key "secret key" to the digitization of the financial industry?
in financial transactions and services, reaching an agreement is the cornerstone of the entire process. behind every transaction, there are rights and obligations of two or more parties, which need to be defined through clear and enforceable contracts. the validity of a contract often depends on a key legal act - signature. a signature is not only an identifier that confirms the identity of an individual or organization, but also a proof that he/she knows and agrees with the contents of the contract.
in law, signatures have important evidentiary value. it not only proves the parties to the contract, but also proves the parties’ recognition of the content of the contract. therefore, signature is a key link to ensure the validity and execution of the contract. in the financial field, signatures are even more indispensable, because the transaction amounts involved are often huge, and the risks and responsibilities also increase accordingly.
the development of electronic signatures, especially its application in the financial industry, has made the signature process more convenient, efficient and secure. it not only retains the legal effect of traditional signatures, but also adds technical guarantees, such as digital signatures and timestamps, to ensure the authenticity and non-tamperability of the signature. these characteristics make electronic signatures an important trust-building mechanism in the financial industry.
therefore, electronic signatures play a central role in financial transactions and services. it is a key link in legal validity, transaction confirmation and risk management. currently, electronic signature is becoming an indispensable part of the financial industry. it is not only a "handy tool" for financial services, but also enhances the transparency and security of transactions while improving efficiency.
as the digitalization process of the financial industry continues to advance, the market space of electronic signatures in the financial industry will also further increase.
taking the banking industry's out-of-the-counter rate indicator as an example, the bank's out-of-the-counter rate refers to bank customers leaving bank counter services and turning to self-service channels (such as online banking, mobile banking, automated teller machines (atms), self-service terminals, etc.) for financial transactions. and business processing ratio. as an important indicator to measure the degree of bank digitalization and service model transformation, the departure rate has important guiding significance for the bank's business development strategy and operation management.
according to the china banking association's "2023 china banking service report", the number of off-the-counter transactions by banking financial institutions in 2023 will reach 491.439 billion, a year-on-year increase of 9%; the total number of off-the-counter transactions will reach 2363.82 trillion yuan; the industry average electronic channel the diversion rate is 93.86%.
more than 90% of business can already be handled through the internet. behind this data, on the one hand, is the significant reduction in the number of bank branches across the country - according to statistics, in 2023, a total of 2,756 commercial bank branches across the country were closed. the shrinkage of bank branches is the inevitable result of digital transformation. the development of online channels has also greatly improved the availability and efficiency of financial services, improved the radiation capabilities and service tension of financial institutions, and can provide customers with services at any time, any place, any time. way of service.
on the other hand, the shift of various financial services, including banking services, to online channels also means that the original offline demand for signatures has shifted online.
from simple tool software to in-depth business solutions, from business digitization to management digitization, electronic signatures are deeply involved in the digital management reform of the entire life cycle of enterprises, in terms of traceability, security, compliance, transaction time and process optimization, etc. many aspects come into play. in fact, electronic signature is no longer just a tool for signing contracts, but has become a key component of digital transformation in the financial field.
why does the electronic signature market need a full ecosystem?
what exactly is a full ecosystem? how can electronic signature companies provide full ecological services for thousands of industries such as the financial industry?
in fact, a single electronic signature tool can no longer meet the increasingly complex and changing needs of the financial industry. electronic contracting has network effects. simply put, the network effect is that if an enterprise uses a third-party electronic signature platform, it will drive its upstream and downstream affiliated enterprises to use the platform.
the network effect does not stop there. as a key node in the office process, electronic signatures have strong ductility and connection capabilities. the full-ecological electronic signature service provided by eshanbao to users is itself a response to this network effect.
what value can the full-ecological electronic signature service bring to the industry?
first: if electronic signatures are only used as local software and run in a closed manner, they will naturally not be able to produce network effects. full-ecological electronic signature services, only with the help of cloud saas and on the premise of achieving local data security, the electronic signature platform can closely connect customers from all walks of life, thereby promoting the efficient operation of enterprise business processes.
according to an idc report, esignbao provides a variety of deployment methods including saas public cloud services, saas open services, hybrid cloud services, etc., and can provide various services including contract signing, certificate storage, judicial services, etc. for different teams such as enterprise informatization, business, and legal affairs. integrated solutions for a series of services.
this is actually the network effect developed by esignbao from the software era to the saas era, which brings about the natural demand for the entire ecosystem.
second: as the entrance for customers to build trust relationship chains, there is a natural link between electronic signature companies and customers. especially in the process of serving head customers or chain master customers, such customers can play a good role in connecting and mobilizing upstream and downstream customers in the industry chain, and it is easier to amplify the natural series effect of electronic signature companies.
taking e-shanbao as an example, this kind of link is reflected in the link scenario with ecological partners such as dingtalk on the one hand; on the other hand, technologically, saas, intelligence, and blockchain also enable full-ecological solutions. the solution is more mature and can promote each other in government services, commercial services and end users to build a full ecological signing network. at the same time, this is also a closed-loop ecosystem covering b+g+c.
third: providing full-ecological electronic signature services for finance and other industries is also a huge incremental opportunity for the electronic signature market in the future.
electronic signature contains multiple important authentication links and requires the close cooperation of many participants. idc believes that the growth opportunity for the electronic signature industry lies in uniting with other technology service providers or software developers to provide cloud-based products and services, and achieving seamless workflow integration through joint technology partners.
by integrating all aspects of the electronic signature process and integrating advanced technologies and services, a comprehensive electronic signature ecosystem with extensive coverage and deep connections has been built, which has long been the direction the entire electronic signature industry is working towards. in the electronic signature industry, there are also many leading companies that have launched customized and industrialized electronic signature solutions by joining forces with various industry partners, thereby extending the business reach of the company to more detailed links, not only competing in technology, but also competing in more refined solutions. scene service capabilities, competing for more comprehensive ecological link capabilities.
this process of building a full ecological system is also a process of deepening the industry. the so-called full ecology actually means creating a more widely connected full ecology in terms of equal emphasis on security and credibility, innovative service models, and in-depth applications in the financial field. the prerequisite for the development of supply chain financial services is to use electronic signatures to digitize the entire business process and build a true and credible value system.
in the financial field, esignbao's various products, services and solutions are also launched based on the full ecological concept, such as providing an open platform for electronic signing; such as "integration of electronic and physical seals", "integration of multiple algorithms", " "integration of internal and external business of the institution", providing financial users with complete ecological electronic signature services, etc. it is understood that in supply chain finance and related fields, e-signature bao has provided electronic signature services to many brands such as suning financial, ping an real estate, midea finance, longping high-tech, vipshop, and zheshang factoring.
the leading companies in the industry are basically building a full life cycle of electronic contracts and a full ecosystem of signing networks that cover "to be reviewed, signed, managed and implemented", so that electronic signatures are no longer a single contract signing tool, but extend to contract management, process approval, legal management, evidence preservation, legal services and other aspects, and is deeply recognized by customers by meeting their diverse and security needs.
as an industry that builds "trust" and is also a link industry that links many enterprises based on trust, the electronic signature industry has become an important force in promoting the digital transformation of the financial industry, and serves as a new type of infrastructure to drive the operation and management of many upstream and downstream industrial organizations. improvement of efficiency.
