STCU Earns Share of Heart by Adding eSignLive E-Signatures to Member Services
(SPOKANE, WA) – September 17, 2015 – Many credit unions aim to operate at the heart of their communities, and recently STCU was able to demonstrate how it is doing so. In a webcast, STCU raved about how e-signatures technology from e-SignLive by Silanis has enabled the credit union to “keep the heart” of its more than 140,000 members by significantly improving the member experience and ease of use. In the process, STCU has been able to reduce by 50 percent the time it takes to process direct consumer loan transactions through this channel. Prior to implementing e-signatures, STCU members needed to come into a branch to sign paperwork, or needed to print, fax or mail back documents. Back office support teams in turn prepared and scanned the paper documents into the ECM solution – all of which took excessive time and resources. For those members using STCU’s financial relief solutions, time was of the essence and any paperwork delays could result in a delinquency on their credit report, or even repossession or foreclosure. E-signatures have helped meet STCU’s members where they are, letting them complete their financial transactions on their own time, while helping STCU’s 530 staff by automating previously manual tasks via an easy-to-use interface. By the numbers, e-SignLive has helped STCU’s members and staff by:
- Decreasing time to complete a loan process from 20 minutes to 10;
- Reducing the cost of paper and related products from $12 to zero;
- Cutting time spent handling physical paperwork from eight hours to zero;
- Slashing the time spent on auditing loan paperwork from eight hours to three.
-30-Media Contact: Sarah Milner e-SignLive™ by Silanis 250-216-1762 firstname.lastname@example.org