Case Study: Avanza Bank cuts onboarding time and boosts deposits with Scrive eSign

Avanza Bank cuts onboarding time by 72% with Scrive

Avanza Bank, a Swedish online bank, faced a significant customer experience and operational challenge. Their digital onboarding process required new customers to sign and return a physical paper document, causing delays of weeks or months and creating an administrative burden. To solve this, Avanza partnered with the e-signature vendor Scrive, specifically adopting their eSign GO solution, after their legal team approved its stringent security features.

Scrive implemented an electronic signing process integrated into Avanza's onboarding workflow. New customers now authenticate using Swedish BankID directly within Scrive's interface, and signed documents are securely archived. This solution from Scrive dramatically reduced the average onboarding time by 72% even as account volume quadrupled. Furthermore, the improved process led to a 120% increase in signed document conversion and a 20% rise in total deposits in the first year.

Avanza Bank