About

Network Rail, a government-owned operator of the UK’s rail infrastructure, faced a familiar yet critical operational challenge: managing its authorised signatory process effectively, securely, and in a timely manner. With the departure of key personnel and increasing operational complexity, their legacy spreadsheet-driven system had become a liability; unreliable, inefficient, and prone to governance risks.

Network Rail recognised the need to modernise its increasingly outdated, spreadsheet-based authorised signatory processes. By adopting a digital solution (Cygnetise), the organisation was able to harness technological advancements to streamline and secure the management of signatory data. This transformation enabled the seamless, real-time sharing of authorised signatory information with its banking partners, significantly reducing governance risks and enhancing operational transparency, accuracy, and control.

The problem

• 12+ manual steps per update: Network Rail’s legacy signatory management process involved printed forms, wet signatures, internal mailing, and multiple approval loops.

• Weeks to complete: Each signatory update cycle could take up to a month, delaying payments, creating confusion, and risking compliance.

• Spreadsheet sprawl: Signatory lists were stored in shared drives with no version control, making oversight nearly impossible.

• Outdated information and risks: Inactive signatories could then remain on the matrix for an indefinite time, creating operational and reputational risks.

• Banking and compliance hurdles: Network Rail’s Tier 1 UK banking partner and other international counterparts required different formats and validation standards across regions, adding friction and complexity to every update.

The solution

Cygnetise stood out for its real-time capabilities, robust audit trail, and ease of use. According to Network Rail’s team, the solution emerged as the strongest fit during their evaluation phase, matching their needs in functionality, flexibility, and cost. 

Here are some of the key highlights experienced by the team during Cygnetise’s implementation phase: 

• Drastic time reduction: What once took 3–4 weeks now takes a single morning, with up to 15 signatory changes processed per day.

• Simple, secure workflow: The new process is down to 3 steps: data collection, digital verification, and admin approval - all done digitally.

• Global bank compliance: Successfully implemented across the regional offices of the company’s UK Tier 1 banking partner in the UK, UAE, Toronto, and Australia using tailored dynamic links.

• Proactive list management: Dynamic links ensure that stakeholders always have the most current version, instantly accessible and version-controlled.

The outcome

Since using Cygnetise, Network Rail has reported:

• Over 90% time saved on signatory updates

• 100% auditability: Every change is time-stamped, recorded, and easily retrieved

• Zero paper trails: Fully digital workflows remove the need for printing, posting, or manual follow-ups

• Reduced operational risk: Live records mean no more outdated or missing signatories

• Increased capacity: Treasury can now manage and verify updates for 10–15 users per day, compared to 1–2 per week before

Network Rail’s adoption of Cygnetise has transformed its approach to signatory management. What began as a pain point rooted in legacy processes has become a digitally enabled, scalable solution that supports compliance, efficiency, and modern operational standards. This case underscores how Cygnetise helps large organisations not just adapt, but thrive in an evolving digital governance landscape.