Damien talks with Signatize about replacing Excel spreadsheets for managing bank account signatories. The cloud platform offers better security, accessibility, and audit trails than spreadsheets, solving a real problem for treasury teams.
So I'm joined by Damien from Signataise. I said to him I just want quick answers, quick fire round about what Signatize is and things like that. So what is Signatize, what do you do and why should a treasurer be interested?
Signatize is a cloud based database designed to take the pain out of managing, updating and distributing your authorized signers on all your bank accounts, both internally and with external counterparts.
Okay, people use Excel at the moment, why shouldn't they keep on using that?
Three words, security, accessibility and auditability. Excel is neither secure nor auditable to a proper standard for corporates and you have access issues in terms of people using it.
Okay, and Signatize, how hard is it? Is this a big technology or how does it work?
Very quickly we're seen as a quick win, easy to implement, usually taking between two to four days to on board with the customer. So compared to large scale tech projects within treasury teams, there's a hell of a lot of ROI in a short space of time.
This is all very well but can you give us a real example? Because these are treasurers, they want to know real world examples.
Sure. One real world example. Evelyn Partners known UK Wealth Manager. By using Signatize we compressed, we got rid of so much manual time they were doing updating their signers and the complexity and so now they have all in one place, all the information they want in terms of KYC CDD documentation for signatories as well as legal entities, directors lists, bank mandates etc. It's all in one place, it's all auditable and they're just now they could do higher value tasks and the treasurer.
Comes back to me. So that's all right, we're fine as we are. Surely it's not that big a risk we can do it manually and carry on as we are.
You may but I think most people have been just struggling along until they've worked out is there an option out there that actually works? Yes, there is it Signatize. And once you find out about what we do, people go okay, now we're about to change.
Yeah. And that's why we partner with you guys because to the partners page anyone if you're not already on there and you find out more about them, if you want to see their website and connect with Damon and he can just give you a bit of advice and go from there.
