IMM, the leader of eSignatures designed exclusively for financial institutions, announced that Chesterfield, Mo.-based First Community Credit Union (FCCU), with more than 345,000 members, successfully launched IMM’s Web Forms to Workflow functionality during the COVID-19 pandemic, resulting in a 300% increase in remote digital transactions completed by members.
FCCU first partnered with IMM in 2012, and now takes advantage of multiple IMM technology offerings including eSign XML with Spectrum and MeridianLink, eSign Remote, eReceipts and the Web Forms to Workflow Solution Pack. These directly integrate with the credit union’s existing core processing system and other business systems used at the credit union to further streamline operations across the entire institution. When FCCU initially closed its lobbies for walk-in traffic during the pandemic, IMM’s digital solutions became crucial to the credit union and its members.
“IMM has powered FCCU with eSignatures across virtually every business system used by the credit union today,” said Glenn D. Barks, President and CEO. “The signing experience is easy to use for members as well as seamless for credit union employees managing the transaction. They are the perfect digital banking partner for us.”
Prior to the pandemic, FCCU members were required to come into a branch to dispute transactions and complete paper forms in person. Now FCCU uses Web Forms to better serve its members in a digital environment. IMM’s Web Forms are online e-forms that members can access on-demand from the credit union’s online banking system. After selecting the desired e-form, it can be easily completed and electronically signed. It is then routed through the credit union’s defined workflow process. The workflow routes each required task to the right department or individual for completion, in accordance with the credit union’s standard operating procedures. Once all the workflow-related activities are completed, the web form and all operational audit trails are automatically archived, fully-indexed and moved into the credit union’s imaging system.
From March to July, FCCU offered a hardship agreement for mortgage loans. Using Web Forms the credit union could allow members to complete these documents remotely, eliminating any need for the members to engage in in-person contact at the branches. FCCU also created a Web Form for members to apply for the U.S. Small Business Administration’s Personal Protection Program (PPP).
Austin Flynn, AVP Core Processing for FCCU, said, “We understand that the pandemic has truly changed people’s lives. Some members aren’t able to leave their homes while others are so busy they don’t have time to even think about banking. IMM has allowed us to adapt and make things easier by giving them more freedom to sign documents without coming into the branch. Having remote capabilities enables us to serve all of our members efficiently, and we are happy to have seen such a positive increase in digital transactions.
“IMM’s technologies have not only improved workflow for member services, but they have also streamlined our business processes across the back-office. From our perspective the Web Forms that our member’s complete and sign remotely are identical to forms coming from in-person branches,” Flynn added.
According to Michael Ball, Vice President of Markets and Strategy for IMM, “Together with FCCU, we have been able to seamlessly implement our eSign and Web Form to Workflow solutions in a manner that addresses the credit union member’s needs, which have shifted due to COVID-19. Our technology provides FCCU with the tools needed to deliver an efficient digital member experience that insures the safety of the member and the credit union staff.”