docStribute partners with Penrith Building Society
Fintech startup docStributeÂ just announced a partnership withÂ Penrith Building Society, makingÂ their best-in-class DLT solutions available to the building society's members.
Thanks to docStribute, the company will be able to reduce carbon emissions by 98%. This will be achieved by making important and sensitive documents immediately accessible digitally while increasing document security through a three factor verification check each time a document is opened. docStribute createsÂ secure immutable hyperlinks through dSend (www.docstribute.com/dsend) to users, reducing the time their staff spend on preparing paper documentation. ,
This implementation will simplify the onboarding experience for mortgages, rapidly improving the speed with which Penrith can advance funds to their members.
docStribute utilises a DLT application that utilises a decentralised public network known as hashgraph, a secure, shared database that everyone can read from and write to, and a faster, more secure alternative to blockchain.
docStribute CEO Chris Ansara said:
â€œWe are excited to work with Penrith Building Society. We share a desire to reduce the use of paper and reduce emissions in the financial sector. DLT is an alternative to paper communication and is certainly more environmentally friendly - Penrith are industry-leading in deploying our solutions. When using our technology, a 3-factor verification check is completed each time a document is accessed, so Penrith members are safe in the knowledge that documents and contracts are secure.â€
Tim Bowen, CEO at Penrith Building Society said:Â
â€œAt Penrith Building Society, we are passionate about protecting the environment. We have been partnered with Greener Every Day to help offset our new mortgage customersâ€™ carbon footprint, and this new partnership with docStribute will help us further act onÂ our environmental values by reducing our paper usage and therefore our carbon footprint. We also look forward to conducting our business communications in a more secure and efficient way through docStributeâ€™s quality DLT services, particularly its future digital signature solutions, which will enable us to simplify and streamline membersâ€™ onboarding experience, offering choice for our members,â€Â
This announcement follows docStribute becoming available on Mia-Platform Marketplace, as well as docStributeâ€™s deals with global technology behemoth Salesforce to make its Document Distribution and future Digital Signature solutions available to its 150,000+ customers and the UK Governmentâ€™s Crown Commercial Service (CCS) to be listed as a G-Cloud 13 supplier, making docStribute technology available to over 52,000 public sector and third sector organisations.