IMM Issues Preliminary Results Indicating Record Growth Achieved in 2013
IMM, a provider of innovative eSignature, workflow and document solutions for financial institutions, announced today that preliminary financial results indicate 2013 was a year of record growth for the company. Its revenue increased approximately 22 percent over the previous year, while new product orders from existing and new customers increased an estimated 67 percent year-over-year from 2012.
IMM had high demand continue for eSignature technologies – adding 87 banks and credit unions to its Document Exchange cloud-based platform in 2013. There was particular emphasis on remote signing capabilities, which were driven by growing consumer expectations to transact business at the place and time most convenient for them. That, with capabilities for mobile financial transactions growing more sophisticated and widely available, eSignature deployment is a natural extension for financial institutions’ digital strategy.
Adoption of IMM’s automated workflow technology hit unprecedented levels last year. Financial institutions’ expanded understanding of how automated processes generate internal efficiencies while addressing regulatory compliance concerns likely encouraged this trend. Since these remain two primary objectives for most banks and credit unions, IMM anticipates even higher adoption rates for workflow this year.
IMM also saw renewed interest in Teller Item Capture for 2013. As financial institutions’ look to upgrade their branch technology, IMM’s solution for electronic item capture at the teller line not only improves productivity and customer service, but also includes valuable features such as automated fraud and loss prevention capabilities.
John Levy, IMM EVP and ESRA (Electronic Signature & Records Association) board member, said, “We are proud to have expanded our customer base across all business lines, and thank our customers for a marquee year in 2013. This level of growth clearly indicates the investments we make in our employees and our organization allows our technology to effectively address the evolving needs of our market. We are entering the new year well-positioned to maintain our level of quality, service and commitment.”
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.