Integration with a Document Signing Service Provider
Introduction
If an integration with a Document Signing Service Provider is enabled, TurnKey Lender knows that your business procedures
a) Foresees agreement signing
b) May support the digital signing of the documents.
In the standard editions, the out-of-the-box version supports the e-signing of one document, saved as a Loan Agreement in the System Documents and signed between the Lender and the Customer. |
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System Behaviour and Related Settings
Technically, if the Document signing integration is on, the loan status Signing becomes a part of the Loan Status Flow.
In other words,
As soon as:
the Loan Application is approved by the Lender; and
the Loan Offer is accepted by the Customer (if applicable)
we expect the Agreement to be signed.
The Expiry Period, i.e. “how long the system should wait for the agreement to be signed” is defined in the Configuration file (“Close if not signed for N days”).
Document Signing Flow
The Lender approves the Loan Application and (optionally) the Customer accepts the Offer, and the Loan is automatically set to the Signing status.
The System Agreement is generated and sent out to the Customer. It cannot be changed anymore for this loan. Subject to the settings, it may be sent out via Email or enabled in the Customer’s Portal.
The Customer can:
Sign the Agreement with a digital signature: The signed copy will be automatically saved in the System. The Loan Application will become Active.
Sign the Agreement manually. Lenders representative has to upload such signed copy to the System. The Loan Application will become Active.
Ignore the Agreement. If the Agreement is not signed before the end of the Expiry Period, it is archived.
Even if the Agreement has been sent to the Customer, it is still possible to sign it manually and upload the signed copy to the System. If the Customer digitally signs the agreement after that, the digitally signed copy will be ignored. |
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Enabling the Integration
Document Signing can be enabled in the Settings → Integrations.
The list of supported service providers includes (A to Z):
Adobe EchoSign
Docu Sign
ESignLive
Sign Now
Signing via SMS
A simple simulator with which you can check the notification without extra charges during the testing period is also available.
Some Common Settings
The list of credentials and other special settings depend on the user service. Usually, they will include the credentials and keys necessary to integrate with the service (and defined by the service provider).
Docu Sign and Sign Now also support embedded signing from the customer's dashboard, which means that the Agreement is not sent to the Customer’s E-mail, but is enabled in the Customer’s Portal and can be signed from there.