The $1.4 billion Radcliff, Ky.-based Fort Knox Federal Credit Union said it significantly boosted loan volume and process efficiency after deploying Rahway, N.J.-based IMM's eSignature solution to complete loan origination.
“Having members located all around the world means that signing documents can be challenging,” Rhonda Hill, lending operations coordinator at Fort Knox FCU said. “Not being able to visit a branch meant that we had to have a solution to accommodate every member's needs, regardless of his or her location.”
Hill added with IMM's eSignature the credit union removed geographic barriers from the document-signing experience. “In fact, our loan volume has significantly increased as well as our efficiency since members can sign documents when and where it is convenient for them.”
IMM's eSignature Solutions have also resulted in more complete document transactions with fewer errors. Credit union employees now spend less time tracking down paper documents and ensuring received documents have been completed accurately. Offering eSignatures helped reduce the time it takes for members to return finished documents.
The solution transformed the entire document process,according to Hill. “We recently attended an IMM forms design conference and returned with even more form updates and ideas that we look forward to implementing.”
“Moving to an electronic transaction environment dramatically drives down the cost and time associated with conducting business, managing courier services, and cumbersome paper-based processes. Additionally, going paperless enhances security and compliance initiatives,” John Levy, executive vice president of IMM, said. “Above all else, eSignature Solutions provide a far superior member experience, ensuring maximum convenience no matter where and when a member needs to sign a document.”
IMM provides complete e-signature and e-transaction management to more than 700 U.S. financial institutions. The company's offers fully integrated e-sign, e-workflow, e-receipts, e-checks and e-teller solutions.
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Roy Urrico
Roy W. Urrico specializes in articles about financial technology and services for Credit Union Times, as well as ghostwriting, copywriting, and case studies. Also: writer/editor of a semi-annual newsletter for Association for Financial Technology since 1997 and history projects funded by the U.S Interior Department, National Park Service and Warren County (N.Y.).
