Digital Service of Jusan Bank: Over 20,000 Signed Documents in Documentolog Market

Documentolog Market is a new digital showcase of services that allows businesses and citizens to receive documents electronically. 

The first banking service launched on Documentolog Market was a joint service with Jusan Bank. It was implemented in 2021 and allowed banking operations to be conducted electronically.

Previously, clients had to visit Bank branches to process documents. This was inconvenient and time-consuming. It was at this point that Jusan Bank decided to automate and transition to a paperless work format. 

Thanks to this step, today Jusan clients can submit applications and update information on cash management, deposit, and credit operations for free, as well as sign credit transactions — applications for loan consideration, loan agreements, debt restructuring agreements, and other documents. There is an option for multi-party signing, where multiple parties are involved in a credit transaction, such as a pledgor or guarantor — all parties can sign the document. 

The results of the implemented project were shared by Ilya Kozlov, Chief Product Owner of Jusan Bank: “This year we are ending with bright results and want to share the outcomes of our two-year collaboration with Documentolog.  Since the start of our joint work in December 2021, we have implemented a service for our business clients, providing an alternative to paper documents. Over the two years, we have signed more than 20,000 documents — and this is without our business clients having to visit the bank. It is important to note that over 250 documents are related to cash management services, which has significantly saved time. But the most impressive is a 45% increase from the 2022 figures and over 11,800 electronic signatures in 2023 for documents related to credit transactions.”

The Bank representative also noted that an obvious advantage of Documentolog is the ability to exchange legally significant documents not only in the Republic of Kazakhstan but also in several CIS countries. “The readiness to deliver correspondence from government agencies when registering a client on the service convinced us that we chose the right partner,” Ilya continues. 

Managing Director of Project Management at Documentolog, Akliya Dzevulskaya shared that the extensive experience in implementing projects of various scales allowed them to accomplish the task for Jusan Bank in just 3 weeks. “Our team always works towards results and chooses the most effective solution for the project. We were able to meet all of Jusan Bank's requirements regarding information security. According to these requirements, the Bank cannot simply hand over client information to someone for storage. All client information transferred to external storage must be encrypted, and the private key that decrypts the document must remain with the bank. Thus, Jusan Bank, together with Documentolog, developed a separate project that complies with these requirements: the document is encrypted at the moment of signing with a key stored on the Bank's server.” 

Thus, Jusan Bank has created an advanced solution for document exchange focused on its clients. Automation has not only simplified the process of signing and receiving documents, creating a positive experience for clients, but also improved the qualitative and quantitative indicators of the Bank. 

The joint project of Documentolog and Jusan Bank has allowed this advanced experience to be successfully applied to other financial organizations.  The service has become popular and has been implemented by other banks. Today, the scope of cooperation with the company is expanding, with new services and growth opportunities emerging.

For more details about the implemented project, read here.