How a Securities Firm Embraced ‘Electronic Signatures’ to Drive Digital Finance Reform
- Neve M
- Jun 3
- 5 min read
- A CASE STUDY BY THINKCLOUD
Overview
A domestic securities company in Taiwan strategically adapted its business operations in response to the pandemic and market volatility by implementing ThinkCloud’s digital contract management system with video-based e-signatures (SelfieSign).
This innovation was made to optimize core securities processes, improve operational efficiency, and achieve complete paperless operations. And it delivered.
In a few months, operational efficiency improved substantially while paper consumption was dramatically reduced, leading to enhanced customer satisfaction.
But beyond these achievements, the firm was also able to fulfill its ESG goals and improve its CSR performance, meeting the requirements of the HP Financial Indicators.
Today, it stands as a notable example of successful digital transformation in the financial services sector.
What We’ll Cover
Why Do Securities Firms Need Digital Transformation? What are the Key Industry Challenges?
Pain Points in Traditional Securities Operations: Why Digital Solutions are Needed
Implementing a Digital Transformation Strategy: E-signatures for Securities Firms
Benefits of E-signatures and Digital Contracts for Securities Firms: Efficiency and Compliance
Background
As stock markets thrived during the pandemic and financial fluctuations, investors actively poured capital into the market, boosting the securities industry.
For securities firms, speeding up internal communication and improving customer service efficiency became urgent priorities during this time.
A Taiwanese domestic securities firm decided to address the limitations of its traditional operating model through comprehensive digital transformation, meeting the Financial Supervisory Commission's (FSC) "Inclusive Finance Metrics" of Accessibility, Usability, and Quality
By integrating advanced digital technology, the firm significantly improved all three metrics while boosting internal operational efficiency and elevating the customer service experience.
This reform drove revenue growth while positioning the firm at the forefront of ESG corporate sustainability (through its commitment to low-carbon operations), proving that digital innovation can both create measurable business value and environmental impact.
Why Do Securities Firms Need Digital Transformation? What are the Key Industry Challenges?
In the financial sector, securities firms must comply with regulations from the Taiwan FSC and other regulatory authorities.
Customers are required to sign multiple agreements before initiating financial transactions—these include agreements for securities accounts, margin trading, discretionary trust accounts, futures accounts, risk disclosures, and more.
Most of these contracts were lengthy, with some running for dozens of pages.
In the past, front-line clerks printed out paper copies and explained them in detail to customers. The customers then signed each document and verified their identities.
The process often required approvals from multiple management levels, creating a slow and inefficient communication system.
The huge volume of paper also made storage and management challenging, often requiring rented space. Altogether, this prolonged service time and increased administrative costs.
Pain Points in Traditional Securities Operations: Why Digital Solutions are Needed
For Customers:
Long processing times; every new account opening took up to 30 minutes or more at the counter.
Voluminous contracts - Contracts could be up to 60 pages long and take up storage space.
Risk of losing the paper contracts and agreements.
For Front-Line Staff:
Long turnaround times and poor work efficiency.
Required multiple identity and document verifications, followed by submission for management approval.
Lots of time was spent organizing and archiving data and making multiple visits to the materials room to retrieve customer documents.
For Managers:
Inefficient organizational communication flows hindered staff productivity.
Limited customer servicing capacity made revenue growth challenging.
Lack of data foundation meant no analytical insight into problems.
Implementing a Digital Transformation Strategy: E-signatures for Securities Firms
To respond to these challenges, a leading Securities firm deployed ThinkCloud’s digital contract management system with video-based e-signatures in 2019, digitizing operations across 149 branches nationwide.
Built to put the customer first, the new digital contract management system enabled the firm to offer a seamless digital finance experience to more than hundreds of thousands of customers.
It also significantly improved the firm's environmental impact, reducing annual paper waste by over 100 tons.
To put it simply, digitalization delivered far more benefits than just operational efficiency.
It enabled a paperless transformation that helped streamline internal communication, resolved longstanding document management challenges, and substantially reduced time and costs.
Through this proactive and innovative approach to addressing operational challenges, the firm now delivers faster, more efficient, and entirely paperless securities services to its clients.
This demonstrates that digital transformation creates a powerful synergy—simultaneously supporting green finance initiatives while enhancing both customer satisfaction and operational performance—making it a winning strategy for businesses.
Benefits of E-signatures and Digital Contracts for Securities Firms: Efficiency and Compliance
For Customers:
Fast & convenient account opening: Account opening is now fully remote and takes just 15 minutes.
Instant file access: Signed digital contracts are automatically sent to the customer’s email for anytime, anywhere reference.
Digital Support for Elderly Customers: In response to the Taiwan Securities Association’s “Self-Regulatory Guidelines for Securities Firms Providing Financial Services to Elderly Clients,” firms offer specialized care for elderly customers.
For those over 65 or with visual impairments, digital contracts can be projected onto a large screen while simultaneously signing on a tablet. This ensures clearer viewing and a more considerate experience when digitally signing.
For Front-Line Staff:
No more printing and archiving paper documents: Documents are automatically saved to the system, reducing manual archiving time and improving efficiency.
Real-time synchronization of information: Managers at all levels can instantly review and approve documents in the system, accelerating the approval process.
Reduce communication costs: Real-time system updates and synchronized information across portals minimize internal communication barriers.
For Management:
Real-time performance monitoring: Quickly track daily customer service volume and staff efficiency, enhancing oversight capabilities.
Improved performance tracking: Finance teams can rapidly calculate performance metrics to meet targets.
Comprehensive data analytics: Digital records allow for deeper, data-driven insights and more strategic management.
Success Story: A Securities Firm’s Journey to a Digital, Paperless Future
As a leading brand in Taiwan's securities industry, this firm has consistently pursued digital innovation while actively championing the global green finance movement.
This commitment to sustainable practices led them to implement ThinkCloud's digital contract management system with video-based e-signatures, which meets both EU’s eIDAS and Taiwan's Electronic Signature Act standards, ensuring high-level information security for the firm and its clients alike.
By embracing electronic signatures to reform digital finance, the securities firm aligned with ESG goals and became a model for successful digital transformation in the financial industry.
The firm's success story, coupled with the recent passing of the Electronic Signature Law in Taiwan, serves as a powerful motivator for other financial institutions to follow suit and embrace a greener, more digital future.
Your financial services firm could be next. Ready to start your digital transformation journey?
Discover how our video-based e-signature solution can streamline your operations and reduce paperwork.
👉 [Get a demo] or [Contact us today]
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