FivePoint Reduces Paper and Costs by Implementing IMM eSignatures
When Texas-based FivePoint Credit Union learned that IMM supported integration with the CRIF SAIL lending platform, it chose to implement TotaleAtlas, the company’s eSignature and document presentment platform capable of processing virtually any document created by a business application or desktop. The credit union also selected Document Exchange, IMM’s cloud-based remote eSignature solution.
FivePoint Credit Union is using these IMM solutions to create and complete both member service documents as well as loan forms while maintaining a single signature capture process, whether in-branch or remote. Averaging up to 450 account openings and 1,700 loans each month, IMM’s technology has helped drastically reduce the credit union’s use of paper and the paper flow between its branches. The broader result has been notable cost savings and members’ appreciation of new transactional conveniences.
Marla Rucker, vice president of IT for FivePoint Credit Union, said, “Early after implementation of IMM’s solutions, our members and employees embraced a completely electronic process; one gentlemen shared that he received funding for an auto loan and drove his new truck away from the dealership in just 30 minutes. We look forward to expanding our relationship with IMM and further leveraging its suite of technology to better serve our members.”
Lending documents within CRIF SAIL flow into TotaleAtlas, enabling FivePoint Credit Union to electronically eSign documents either in-person or remotely via Document Exchange. On the backend of the transaction, completed documents – along with any supplemental documentation – are automatically archived upon completion into the credit union’s imaging system for future retrieval.
“FivePoint is now providing multiple eSignature channels to support its members, including the ability to fund loans more quickly – a fantastic combination of true member service,” said John Levy, IMM EVP and ESRA (Electronic Signature & Records Association) board member. “With TotaleAtlas the credit union is able to benefit from eSignature across disparate systems such as lending and membership platforms while taking advantage of the cost savings, operational efficiencies and member benefits provided by our technology.”
Based in Linden, N.J., IMM develops and delivers innovative technology solutions that enable financial institutions to electronically streamline their business operations and processing environments. With a strong and secure legacy of serving more than 600 banks and credit unions with solutions for eSignature capture, business process (workflow) automation, and document presentment, IMM continues to create advanced software applications that promote clients’ sustainability while dramatically increasing productivity and operational efficiencies. The company is a longtime advocate of eSignature adoption and education, active in ESRA to advance the public’s understanding of issues surrounding the use of electronic signatures and records.