Developing a procedure on updating of signature verification cards for credit corporate clients

• Main Author: Munsayac, Margaret F.
• Format: text
• Language: English
• Published: Animo Repository 2019
• Subjects: Corporate credit unions; Signature writing machines; Business
• Online Access: https://animorepository.dlsu.edu.ph/etd_masteral/7085
• Institution: De La Salle University

This action research revolves around the issue surrounding unverifiable signatures on credit documents submitted to the Bank due to outdated specimen signatures on file. Having recurring instances of unverifiable signatures increase the chances of the Bank to be subjected to fraudulent transactions and as a result, may have a negative impact on its reputation. The team tried to address the issue by creating a procedure that will require the customers to update their specimen signatures with the Bank. A formal procedure would standardize the Bank’s requests to clients to submit an updated signature verification card instead of the current practice of submitting only upon availment which also causes delay. Through collaborative efforts, the team was able to come up with not only a standard procedure, but also a template of request letter to be used for clients who need to submit a new signature verification card. This initiative is a proactive measure to ensure that the customers are aware of the Bank’s commitment in protecting their assets. In addition, the team was able to streamline the procedure by utilizing email as a method of dispatching letters. Pertinent information about the problem were gathered through the application of ORJI and Ladder of Inference while the root cause of the problem was analyzed by using 5 Whys. The Left Hand column was used to analyze restrained thoughts and transformed it into a meaningful reflection. Change Management framework was used as basis for addressing the focal issue and the interventions made were all in line to the said framework.