ZUG, SWITZERLAND, June 2, 2021 - (ACN Newswire) - Delega is excited to announce the successful completion of a POC
together with Deutsche Bank, Barclays and 8 multinational corporations including Salesforce, Siemens and the
International Air Transport Association (IATA).
This POC proved that the digital signatory management workflows jointly co-designed by the POC participants and executed
using Delega's technology represented a significant efficiency gain over the current tools and processes available in
the market today.
The Delega tool leverages cutting-edge technologies to help organisations manage signatory rights on a fully digital and
integrated basis. The challenges that treasurers and their teams face when managing signatory rights across multiple
banks are well-known across the industry. Yet in the digital age, managing signatories is essential when it comes to
enabling users to interact with banks. The goal has been to transform what is typically a time-consuming process
requiring extensive supporting documentation and manual work. It is also further complicated by the fact that different
banks have specific sets of rules and procedures.
During the POC, corporate banking clients benefited from higher transparency and a clear view of the supporting
documents each participating bank required, and the digitalization of the exchange of the documents therefore enforcing
"first time right" approach in the process. This strengthened the use case of a multi-bank solution that enabled
corporate participants to follow a single workflow process in compliance with differing regulatory and policy
requirements of individual banks. The POC also proved, using the Delega tool, that both banks and their corporate
customers had exactly the same view of which signatories held which authority levels in real time, removing the need for
extensive interaction and communication that is normally needed by large multinationals during an audit to prove "who
can sign for what, with which bank".
Eliminating inefficient processes is fundamental to the progression of financial services and technologies. It is the
driving force behind recent innovations to alleviate the strain organisations are currently experiencing to meet
increased and varied demands.
Deutsche Bank, Barclays and Delega are striving to foster and champion further innovation in the banking industry.
Digitalising the signatory management process brings value for both banks and corporations. Delega works to generate
value for all parties that are involved, aiming to transform how we approach outdated and inefficient ways of working.
Using Delega, companies can store and manage a central list of current signatories. This can be shared with chosen
banks, ensuring an up-to-date record of signatory information. As per its offering, the Delega team offer a unique and
progressive insight across the industry. Combined they offer a deep understanding of corporate banking, treasury,
technology, corporate law and project management.