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Eliminating Inefficiencies &Increasing Savings with MX Catalyst


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A mid-sized bank wanted to replace their physical signature capture process with a digital alternative and found they had multiple processes that already existed for capturing a customers signature digitally. They needed a streamlined approach that would reduce costs while working within the confines of compliance and regulatory restrictions.


The MX Catalyst professional services team, with their industry and subject matter expertise, provided consulting services and recommendations that enabled key stakeholders at the bank to make a well-informed decision on a digital-signature solution that would: (1) improve the customer experience, (2) increase efficiency, (3) meet compliance and regulatory requirements, and (4) significantly cut costs.


  • $500,000 cut in existing costs annually
  • $1.5 million less than the alternative solution

With over 230 branches, this mid-sized bank has a long history of commitment to their customers and communities. The founders wanted to provide banking services that could stand the test of time, and their commitment to their core values is still evident some 200 years later.

In maintaining this strong commitment, the bank invests significant resources in enhancing their technology and operational systems. This approach keeps them relevant in an environment where customer needs are constantly evolving.

Working toward their objective of going completely paperless, the bank wanted to move from capturing signatures physically to capturing them digitally. For clients who opened an account at a branch location, a physical signature card was used to capture an image of their signature. For those who opened an account online, the signature was captured digitally.

As they thought about the best digital alternative for those who opened an account in the branch, they discovered they had multiple processes that already existed for capturing a customers signature digitally. One of the solutions used a date stamp, while the other used a digital image capture—which was significantly more expensive. Since the volume of signature captures was about to increase substantially, they needed to identify which of the two solutions they could scale to handle both the online and in-branch account openings while remaining compliant to regulatory requirements. To determine the ideal solution moving forward, the bank enlisted the support of the MX Catalyst team.

Evaluating Existing Processes

We were so impressed by the Catalyst teams ability to step in and understand our systems so quickly. Thanks to our collaboration, we were able to identify the needed operational changes and implement them in a very timely manner.

Catalyst partnered with multiple teams at the bank to better understand how the signature was being used throughout the organization. The challenge, they found, was that there were many downstream operational processes that were reliant on the image of a signature to perform validation. For example, the fraud department would use the image if they received a check that they thought might be fraudulent. They would go to the signature card to verify the signature on the check against the signature they had on file.

Based on their analysis of the current situation, Catalyst identified the departments that would potentially be impacted by not having a signature image. They then provided recommendations on how to adopt new processes that would use an alternative solution for validation and allow the bank to shift to using the more cost-effective date stamp signature. In addition to their recommendation, the Catalyst team also demonstrated the best way to integrate the date stamp signature solution to work with existing systems.

Small Changes, Big Savings

Using the insights presented by the MX Catalyst team, the bank was able to realign its retail deposit process to follow digital best practices. By shifting to a digital signature and reducing the need for paper signature cards and related operational expenses, they were able to cut costs by approximately $500,000 annually. Additionally, by moving forward with the date stamp signature option, they were able to avoid the high costs of the digital image capture which could have cost them roughly $1.5 million more compared to the date stamp signature.

Whats more, providing this new digital experience in their branches positions the bank as a leader in banking innovation. It sets them on a path to meet the evolving digital needs of their customers, including digital account fulfillment and other digital product offerings that reach far beyond their physical presence.

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