The pandemic is hitting the country’s businesses hard. Restrictions on movement, which limit meetings in person, have shown the need to find new solutions for quick access to loans. As well as providing advice to help businesses through the crisis, the bank has decided to accelerate the digitalisation of certain procedures and transactions by introducing e-signatures. Overdraft facilities and investment loans are the first contracts for which this new service can be used.

Clients and legal representatives of companies can choose to receive the loan agreement which they previously negotiated with their advisor in their BILnet online banking area. It is signed with the help of a LuxTrust product which has the same legal value as a handwritten signature. Once signed, the agreement is archived in the client’s personal space. As a result, there is no more need to visit your local branch or to send documents by post. The process is quicker and clients benefit from an improved experience, they now have the choice of visiting their local branch or having their application handled remotely for final validation.

“Quick, easy and secure, e-signatures speed up the completion of loan applications. This is a big advantage for our clients, and we want to extend its use to other types of agreement such as mortgages, investment mandates and business account openings”, said Olivier Debehogne, Head of Retail and Private Banking Luxembourg, and Digital at BIL.

This service reflects the bank’s philosophy of offering both digital and human services. The main role of our Relationship Managers is to help clients achieve their goals. At the same time, the BILnet online banking platform is continually being upgraded with new features so that clients can enjoy innovative, simple and secure services 24/7. In this vein, the bank introduced fully mobile account opening for retail clients in 2018.