(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.

“We are always on the lookout for ways to increase efficiency, speed, accuracy and convenience for our members and e-SignLive helps us do just that,” said Sheri Deist, STCU. “Since implementing e-SignLive, we have had positive responses from members and staff as a result of the technology enhancing our services and improving proficiency and accuracy.”

The cloud e-signature service also provides STCU with added security in the form of document and process evidence, as well as confidence in the credit union’s compliance status, which it achieves with the solution-generated evidence summary, adding a level of auditability for added credit union and member protection.

“e-SignLive solves many of the issues that credit unions face, including the upcoming TRID requirements, NCUA compliance standards and delivering better service to members,” said e-SignLive CEO Tommy Petrogiannis. “STCU turned to us to help with these issues and found a vendor that cared just as much about its customers as credit unions do their members, ensuring a positive working relationship that will see e-SignLive and STCU continue working together in the years to come.”

STCU has since launched a second phase to implement e-signatures in its Fulfillment Department, as well as an in-branch pilot to meet various member relationship needs.

To hear more about how STCU implemented e-SignLive, watch the webcast recording at http://cuna.adobeconnect.com/p3432s15deg/.

e-SignLive is the exclusive e-signature provider for U.S. credit unions through its alliance with CUNA Strategic Services, Inc. (CSS). Through this relationship, credit unions can offer their members the ability to e-sign their everyday transactions, from anywhere, at any time. What’s more, U.S. credit unions have access to significantly discounted pricing – making e-signatures even more accessible. Learn more about the program at www.silanis.com/partners-and-apps/partners-and-solutions/cuna-strategic-services-inc.

About STCU

Founded by educators in 1934, STCU is a member-owned, not-for-profit cooperative with more than 138,000 members, $2.1 billion in total assets, and 18 branch locations in Eastern Washington and North Idaho.
About e-SignLive™ by Silanis

Businesses of all sizes choose e-SignLive™ by Silanis when electronic signatures matter. Nearing one billion documents processed each year, e-SignLive is the most widely used e-signature solution in the world and ranked a leader by analyst firms. Organizations of all sizes, including top banks, insurers, credit providers, pharmaceutical and government agencies, trust e-SignLive to run their core business processes and take their businesses digital through innovations in mobile technology, electronic evidence, analytics and personalization. On premises or in the cloud, e-SignLive delivers the best customer experience while providing the strongest legal protection and regulatory compliance. Learn more at www.silanis.com.

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Media Contact:

Sarah Milner

e-SignLive™ by Silanis

250-216-1762

sarah_milner@silanis.com

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