Santander Bank increases security and efficiency in its contract management.

About Santander Bank

Santander Bank Chile, the Chilean subsidiary of Santander Bank, one of the largest financial groups globally, operates over 474 branches nationwide. Managing assets valued at 58.0 billion and reporting net profits of 871.1 million, it ranks 19th among Chilean companies. Its high-risk ratings in Latin America, with an Aa3 rating from Moody's, A+ from Fitch, and A from Standard and Poor's, and its listing on the Santiago Stock Exchange, underscore its reliability and competence.

The business challenge

The challenges associated with internal hiring processes, including contract creation, letters, and responses, were specifically addressed. The lack of knowledge between the different areas of the bank complicated the hiring flow. In addition, the limitations of carrying out procedures in person prevented the proper progress of the processes. A critical aspect resolved was the urgent need to implement a digital signature system to streamline and make these procedures more efficient, demonstrating Santander Bank's proactive approach to challenges.

The solution

With Webdox CLM, we have workflows that improve the quality and speed of document preparation for all areas. We also offer the possibility of establishing and associating SLA (Service Level Agreement) in all processes.

The Contract management software helps us organize the different types of processes and documents that the Legal, Business, and Innovation areas generate for the various internal clients. This order translates into significant improvements in time and quality in the preparation of digital contracts, demonstrating Santander Bank's commitment to excellence. The certification of Simple electronic signatures available on the platform further facilitates their celebration or acceptance.

Incorporating the electronic signature in Webdox facilitates the sending and acceptance of documents. It provides trust through identity validation via ID authentication, ensuring the security and validity of the signatures, and results in faster and more robust processes.

The Results

Thanks to the use of Webdox CLM, it has been possible to mitigate risks by enabling traceability of the interventions made by various collaborators on a document, making it easy to determine who was involved in which situation. Additionally, it allows us to generate documents that are unalterable, except by those with sufficient permissions within the same workflow. Furthermore, the validation through electronic signatures enhances the security level for third parties involved in a signing ceremony.

Complementary to this, Santander's main goal was to improve response times in document creation without compromising the quality of the work. We currently have a repository of around 4,324 documents and 51 workflow templates.