Leading Treasurers Say Goodbye to Complex Paper-based Signatory Management with Delega’s Launch
Published: September 16, 2022
Swiss fintech Delega is thrilled to announce the start of the roll out phase of its new digital bank signatory management solution – designed to make life easier for corporates and banks alike.
The company enters this new stage together with several corporate participants, including IATA, Salesforce, and Siemens, and two financial institutions, Deutsche Bank and Barclays, after a successful proof of concept (POC) and further development within an established working group.
Using Delega, treasurers can give specific banks access to the information needed to create, remove, and maintain digital signatory records. Corporates can also access their own signatory records instantly and ensure they are compliant with their banks’ requirements – meaning that both parties can seamlessly obtain up-to-date information about individuals’ signatory rights. As a result, treasurers will be able to comply with audit requirements more quickly and accurately.
Commenting on the benefits of the solution, Rhys Morgan, Deutsche Bank’s Product Head for Client Conversion & Integration said: “Delega’s solution is an excellent case study for Deutsche Bank’s strategy of integrating workflows between our corporate clients and ourselves to deliver efficiencies and value to our corporate clients. Deutsche Bank is digitalising manual processes to make it easier, faster and more efficient for our clients to do business.”
Riccardo Balsamo, Chief Executive Officer, Delega, added: “Signatory management is an age-old problem for both treasurers and banks. Digitising complex paperwork and significantly reducing the time spent on admin – in an integrated, secure and easily accessible way – makes perfect sense for everyone involved. That’s why we built Delega; it’s a straightforward answer to a genuine problem in the industry. And we look forward to the ongoing collaboration with our pilot participants, which are paving the way for this tool to become an industry-wide solution.”
Delega harnesses the most modern and secure cloud technologies by creating a bank-agnostic single source of truth in the form of a list of current authorised signatories. The tool also acts as a secure repository for supporting documentation.
The strategic direction is now to onboard additional corporates and financial institutions, bringing the benefits of Delega's solution to the wider treasury community. Visit delega-banks.com to find out more.