Electronic signing and identification enables simplified customer management at Brummer & Partners

Brummer & Partners has experienced a considerable client increase since the implementation of the neXus authentication and signing solution.

Brummer & Partners offers asset management services to institutions and companies, and private individuals. In 2011 the company started a life insurance company and just like many others, Brummer & Partners used a form on the website for prospective clients to sign up. The application process was manual and time consuming for both clients and the company.

– We saw the need to make the application process more clear and straight forward, with fewer steps for both us and our prospective clients. This is when neXus came into the picture with their solution for electronic signing, says Joakim Millås who is responsible for business development at Brummer & Partners.

Previously five steps had to be completed on the web to become a customer. Then a pdf file had to be printed, signed and sent via postal mail to Brummer & Partners. Between 70 and 80 percent of everyone who started the process never finished it.

– We started looking at a new solution in September 2013 and evaluated several alternatives from different security companies. neXus had references, which we placed a great importance on during the evaluation. And, neXus also had many customers within our segment, says Joakim Millås.

Following a thorough evaluation, Brummer & Partners decided to use two of neXus cloud services and they were up and running by the end of that year. With “Identity Service” and “Signing Service” the whole application process flow has been automated. Parts that the client had to fill out has been removed and hence, several steps were eliminated. Nothing has to be printed or sent via postal mail any more, which makes the whole process web based.

– We are very pleased with the result so far. The paper flow is gone and since the end of year we have increased our customers by several 100 percent. There are, of course, other factors at play, such as 2013 being a good management year, but the new sign up for savings process using a neXus solution has played in, says Joakim Millås.

Joakim Millås further says that the signing function has removed the paper trail and saved Brummer & Partners considerable manual labor. Now they no longer have to review applications received on paper via postal mail.

– We are spared a lot of the manual handling that we dealt with earlier and have become more efficient allowing us more time to focus on our increased client base and qualitative tasks. So, even though we have more clients, we don’t have more work and we are well prepared for future growth, Joakim ends.

Brummer & Partners’ business concept is to offer well diversified asset management based on a shared goal of generating a good risk-adjusted absolute return. The company manages SEK 118 billion (USD 18 bn) on behalf of private individuals, businesses and institutional investors. Brummer & Partners has around 400 employees and offices in six countries. Brummer & Partners offers companies, employers, and private individuals pension and insurance saving via their own insurance company Brummer Life Försäkringsaktiebolag, as well as direct savings in the fund custodian and investment savings account (ISK).

Facts about the solution:

Brummer & Partners uses the cloud service neXus Identity Service, where authentication is done with the help of BankID, for end-user login and secure communication. Upon user authentication, the information is passed on to neXus Hybrid Access Gateway where the approved user gets access to requested services. neXus Hybrid Access Gateway is also used to protect the communication all the way from the end-user’s device to the application with the help of SSL encryption and session handling.

neXus Signing Service, a cloud-based signing service with qualified electronic signing via BankID, is utilized by Brummer & Partners for electronic signatures. Brummers & Partners’ application is connected to neXus Signing Service via an easy integration. Transforming the web forms to signable documents, without any programming, simplifies and makes the implementation considerably more efficient. Since the end user experience is just like in the original application, the end user doesn’t notice any of the underlying processes.