Company’s cloud-based solution hits major milestone in first year of market availability
LINDEN, NJ (October 17, 2013) -- IMM, a provider of innovative eSignature, workflow and document solutions for financial institutions, has signed an additional 100 financial institutions to its cloud-based eSignature solution, Document Exchange, in the last 12 months.
John Levy, EVP of IMM and ESRA (Electronic Signature and Records Association) board member, explained, “The introduction of Document Exchange is one of our most successful product launches to date, likely due to the current demand for eSignatures across multiple applications and their relevance in addressing primary considerations top of mind at financial institutions and other entities. eSignatures satisfy consumer convenience, drive cost savings, expedite closings of key transactions, enable on-demand mobile and self-service transactions while providing an eco-friendly strategy.”
Here are just a few financial institutions’ take on their early benefits from IMM’s Document Exchange:
Empower Federal Credit Union quintupled its monthly average of eSignatures after using Document Exchange for just two months. Kevin Peterson, vice president of consumer lending, attributes the increase to ease of use. He also noted the immediate value in Document Exchange’s reporting capabilities, explaining, “Its dashboard provides metrics, key to monitoring the performance of eSignatures across our division, plus it gives us an electronic audit trail, within the platform, to see the specifics of each transaction. We hope to soon involve the rest of the credit union in eSignatures, beyond lending.”
Carol O’Keefe, operations and call center manager for Connecticut-based Achieve Financial Credit Union, and her staff are enjoying Document Exchange’s built-in workflow functionality. “We cautiously introduced just a few automated workflows; within two days I had requests to fulfill twice as many. I can easily create, change and duplicate workflows, which is empowering to perform the maintenance, tests and publishing myself rather than rely on external support.” And, she can monitor workflows for timely processing of time sensitive items. Her staff spends less time pushing paper and has more time to devote to member service. “I look forward to the day when the age-old response of, ‘Well, I sent that in the interoffice mail last week,’ becomes obsolete!”
Implementing eSignatures for NEFCU was partly compliance related. The more than $2 billion credit union had just moved to closed-end lending and needed to eliminate the inefficiencies created from passing documents back-and-forth while avoiding additional in-branch appointments. Robert Leventhal, NEFCU’s special projects technology liaison, said, “Completed documents are returned much faster, meaning we are able to disperse funds into members’ hands much sooner.” Document Exchange is also saving time for frontline personnel.
IMM’s Document Exchange is powered by Adobe® EchoSign® and is device and browser agnostic for document signing. Once the cloud-based signing is complete, all electronic signatures and records produced are legally enforceable. IMM is integrated with the major financial services core and lending/deposit systems as well as ECM/imaging systems.
About IMM
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.
For more information, visit www.immonline.com or connect with the company on LinkedIn, Facebook and Twitter @imminfo.