How Capital C Corporation transformed its customer lending process with Docusign eSignature

Founded in 2011, Capital C Corporation provides leading financial services to consumers and businesses across Singapore. Capital C offers a range of consumer and business lending products, which are issued through several subsidiaries. It has disbursed over S$213 million worth of loans, with loan disbursement growth of roughly 350% since 2019. 

With a vision to advance financial inclusion for underserved communities, Capital C prides itself on using innovative emerging technologies to streamline processes and drive competitive differentiation. 

Financial services is a fast-paced industry where speed and efficiency are critical. That’s why Capital C engaged Docusign to shorten its lending approval process and cut down on manual, paper-based activities.  

Streamlining processes to promote financial inclusion

Across all of its subsidiaries, Capital C processes thousands of consumer and business loans every month. Prior to engaging Docusign, loan applications were physically printed off, signed, scanned and sent for approval. 

Contracting, from scheduling to sign-off, would take an average of 2 days to complete. Capital C considered this timeframe to be unacceptable, considering how fast the fintech and financial services industry moves.

“Towards the end of the approval process, we would still require the customer to come into our office and sign the contract, or we’d have to send the relationship manager to their place of business,” says Edy Ng, Capital C’s Chief Operating Officer. “That process was unnecessarily time-consuming, taking days for approval to be finalised.”

Capital C required an eSignature solution that would seamlessly integrate across all its subsidiaries and core partners. The organisation took advantage of Docusign’s integration with SingPass, Singapore’s National Digital Identity scheme, to verify client credentials and speed up the loan process.

A solution that ticked all the boxes

Docusign worked with Capital C to help them implement eSignature across almost every function of its organisation. 

Now, once a customer has been onboarded and applied for the loan, they can use eSignature to sign contracts straight away, or at their own convenience. The documentation then goes directly to Capital C for immediate loan processing.

Docusign worked with Capital C to execute a smooth implementation for the software, helping to transition teams to a new way of working. 

“The implementation process was straightforward and our team found it easy to use,'' Edy continues. “The platform has a great interface and user experience, and it made an immediate impact on our staff.”

Customers also love the capabilities offered by Docusign. Customers now have confidence that loans can be approved and funds administered within hours, which is a capability its business clients have recognised as a significant competitive differentiator. 

“Docusign helps us and our customers stay competitive. Some of our clients need funds incredibly quickly. Approval speed is critical because it allows them to secure stock much faster and at a better price,” Edy says.

Docusign eSignature is now used extensively by the organisation’s sales, HR, legal, and procurement teams to achieve operational excellence across their organisation.  

Using innovative tech to drive real customer outcomes

By integrating Docusign eSignature with SingPass for its business loan application and disbursement process, Capital C reduced an 8-step email and paper process to a straightforward 4-step mobile-first digital experience. 

Its average 2-day loan application process was reduced to just 4 hours, with a 35% reduction in time to process, distribute and manage loan applications. That allows Capital C’s relationship managers to refocus their time back into client services, helping the organisation double its business loan volume since the implementation was complete. 

**“**We compared a few competitors before landing on Docusign,” explains Edy. “For us, user experience was the key. We’re pretty obsessed with how easy and efficient everything is. From customers applying for a loan through to processing and approval. It has streamlined that entire core business procedure.”  

Since implementing eSignature and Sign with SingPass, Capital C has also removed 95% of physical document handling costs, drastically reducing its paper footprint and environmental impact. 

It has made it easier for the organisation’s hybrid workforce to collaborate and manage client approvals, as they no longer need to be physically present for any aspect of the procedure. 

Capital C is now looking to extend its relationship with Docusign, by integrating the platform with its upcoming buy-now-pay-later business, which the organisation expects to be fully automated.

“Using this platform, customers will be able to submit their information using a mobile application, with information populated into an agreement and signed off instantly, without human intervention,” Edy says.

It’s also working with Docusign to explore how it can integrate other products from the suite, following the success of the eSignature implementation.

“We’re always open to exploring innovative technologies and opportunities. This initial implementation has shown us how being the first to adopt can lead to major competitive benefits. So it makes sense to explore how other technology might be applicable for our business,” Edy concludes.