Israel’s Bank Leumi and Digitalization Startup CallVU Partner to Cut Down on Paperwork
CTech – A new digital signature system developed by CallVU will allow Israel’s Bank Leumi to replace thousands of documents with digital files. CallVU’s Customer Engagement platform enables the conversion of thousands of types of documents — from deposit certificates to credit applications — into digital files that are transmitted remotely via text messages to smartphones, enabling fast and convenient digital signatures.
Behind the strategic move is the desire to reduce bureaucracy for customers and make bank documents more accessible efficiently and quickly. In addition, full digitization will be maintained between the bankers and customers and the use of paper will be significantly reduced, with over 10 million pages being saved so far.
The limitations of the Covid-19 pandemic and the need to move to remote work and remote customer service has accelerated the development of new digital processes across a variety of industries, including the banking sector.
The system, which was developed in collaboration with Bank Leumi’s Technologies division, allows the digital forms to be stored for extended periods of time and retrieved quickly if necessary.
“The long-standing collaboration with Bank Leumi has resulted in our ability to produce an innovative and advanced technological toolbox,” said Ori Faran, Founder and Director at CallVU. “This is a complex and challenging move that will help save resources, preserve the environment, and strengthen the connection between Leumi and its customers.”
CallVU was established with the aim of enabling organizations and businesses in the fields of banking, insurance, and finance in Israel and abroad to transfer complex activities into digital processes
Eyal Ben-Haim, Head of Operations Division at Bank Leumi, said, “The digital signature is part of an overall initiative we are leading at Bank Leumi in order to make the banking experience more digital, transparent, and convenient. Most customer requests can now be handled from the first interaction without having to go to a branch or send a fax or email.”