{"id":6500,"date":"2022-05-10T10:32:43","date_gmt":"2022-05-10T10:32:43","guid":{"rendered":"https:\/\/signdesk.com\/in\/?p=6500"},"modified":"2025-10-28T03:28:23","modified_gmt":"2025-10-28T08:58:23","slug":"digital-stamping-efficiently-streamlining-banking-document-workflow","status":"publish","type":"post","link":"https:\/\/melento.ai\/en-in\/blog\/digital-stamping-efficiently-streamlining-banking-document-workflow","title":{"rendered":"Digital Stamping: Efficiently Streamlining Banking Document Workflow"},"content":{"rendered":"

\"DigitalHow Digital Stamping Enables Loan Automation For Banks<\/strong><\/span><\/h2>\n

Paying stamp duty is a vital part of almost any transaction in the country, from the disbursal of different kinds of loans to handing out various insurance policies.<\/span><\/p>\n

In order to understand how digital stamping<\/strong> can ease documentation task flow for banking institutions, it is essential to examine the operational procedures of banks that involve handling large volumes of physical stamp papers manually.<\/span><\/p>\n

Right from availability, procurement, logistics, to storage, banks face a wide array of challenges dealing with numerous stamp papers every day. In addition, the distribution of stamp papers, along with evidencing them through manual receipts, is a tedious task for these institutions.\u00a0<\/span><\/p>\n

With the help of <\/span>digital stamping<\/a><\/strong>, banks can conveniently provide their customers with authentic digital stamp papers for processes like availing of loans. Along with that, digital stamps for documents can also offer a secure document collection and retrieval mechanism for banks.\u00a0<\/span><\/span><\/p>\n

What is Digital Stamp Paper?<\/strong><\/span><\/h2>\n

A digital stamp paper<\/strong> is an electronic method to stamp digital documents by paying the nominated stamp duty online. It is an e-document where denominations are affixed based on the amount of stamp duty that needs to be paid across different applications and processes.\u00a0<\/span><\/p>\n

The digital method ensures that there is no leakage in the government revenue, as the stamp duty will be paid online to the central or state governments.\u00a0<\/span><\/p>\n

Digital stamping<\/span> also offers a secured electronic form of information storage by providing a central data bank for quick verification and retrievals. By using digital stamps for documents, banks can quickly disburse home loans, education loans, vehicle loans, etc., to their customers, helping them avail of the required services on time.\u00a0<\/span><\/p>\n

In addition to enabling banks to implement loan automation<\/strong>, digital stamping also allows banking i<\/span><\/span>nstitutions and their customers to also easily <\/span>verify digital stamp certificates<\/span><\/a> for the document\u2019s authenticity.\u00a0<\/span><\/span><\/p>\n

How Can Banks Get Documents Digitally Stamped?<\/b><\/span><\/h2>\n

The customer journey for digitally stamping a document involves the following steps:<\/span><\/p>\n

    \n
  1. The customer logs into Melento (Formerly SignDesk) via the bank\u2019s app or web page<\/span><\/li>\n
  2. The customer fills their details into a bank form template<\/span><\/li>\n
  3. Stamping details are customized to be auto-filled (upon requirement)<\/span><\/li>\n
  4. The customer then enters their Aadhaar number to receive an OTP on their registered mobile number<\/span><\/li>\n
  5. Once the OTP is entered and verified, the form is eStamped<\/strong> and eSigned<\/strong> in seconds<\/span><\/li>\n
  6. The final form is shared with the customer for download\u00a0\u00a0<\/span><\/li>\n<\/ol>\n

    A bank\u2019s Loan Management System (LMS) can be scaled and streamlined by loan automation using <\/span>digital stamping<\/a><\/strong>.<\/span><\/span><\/p>\n

    The digital stamping process for documents can be smoothly integrated with a bank\u2019s workflows spanning loan disbursal, account opening, etc via APIs, mobile SDKs or for Desktop portals. The end-to-end process of a bank disbursing a loan to its customer through eStamp<\/strong> integration is explained below.<\/span><\/p>\n