Why Make Paperless A Norm?

By sourjyadipta | March 26, 2022

Paperless processes for the win. It makes life easy for customers, companies and finally, the environment. Read on to know how and why.

What to do if you've lost your property papers

This is probably the most relevant day for current times. In a world of excess, it is really important to streamline processes to make systems more efficient and environmentally friendly. Going green is the best way to make sure that generations to come will have a bright future.

This Earth Hour Day, if your situation permits, please join the world in shutting down all your electrical devices for an hour at 8:30 p.m. local time. We deeply realise the necessity of more environmentally friendly systems. That’s why one of the major focus points when BankBazaar was born was to enable a system minus the paperwork.

The idea was to create a platform that would remove the need for paper-based procedures for getting access to the best financial products.

Why paperless?

It simply reduces deforestation and pollution. Millions of trees are cut down for paper, but with the internet surrounding the world, we can do all the paperwork digitally. If most companies removed paper-based systems, we could definitely take a step towards a greener future.

Additional Reading: How E-Sign Will Transform Personal Finance     

How does paperless processes work?

Applying for a financial product would have required enormous amounts of paperwork and time a decade ago. Both changed drastically because, instead of allocating a person to visit you to get your application form, this whole process was shifted online. No need for bank visits. There is no need to waste paper on printing the form. Time saved, paper saved. The customer applies through an online application form.

Additional Reading: Your Ultimate Guide To COVID-19 Personal Loans

Benefits

Let’s face it, we are a busy lot. Adding a bank visit or a client visit is a time-consuming issue for both the customer and the credit card provider. Eliminating paperwork is key to creating a more time-efficient framework. Plus, for the last two years, with the coronavirus restricting us to our homes, the need for contactless processes has steadily gone up. Paperless processes promote social distancing and ensure that things get done faster.

Additional Reading: What’s A Good Credit Score For Easy Loan Approval?

Which products one can apply for paperlessly?

Except Home Loans, both Personal Loans and Credit Cards can be acquired paperlessly. To create a further safe and socially distant environment, video eKYCs have been introduced for these products too. Together with video e-KYCs and digital processes, it is now easier than ever to get credit cards.

Finally, your credit score is the most important metric that determines your financial health. It comes for free and is paperless too. Get your latest Credit Report now at no cost!

All information including news articles and blogs published on this website are strictly for general information purpose only. BankBazaar does not provide any warranty about the authenticity and accuracy of such information. BankBazaar will not be held responsible for any loss and/or damage that arises or is incurred by use of such information. Rates and offers as may be applicable at the time of applying for a product may vary from that mentioned above. Please visit www.bankbazaar.com for the latest rates/offers.

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