April 17, 2023
Remote Signatures Through Sharetec Proves Great Success for Credit Union
Many Sharetec credit unions have experienced tremendous success with Remote Signatures, Sharetec’s innovative software that offers convenience, ease and simplicity to credit unions and members alike. Remote Signatures allows loan officers to electronically transmit loan documents directly from Sharetec to members for their electronic signatures, enabling credit unions to be anywhere their members need them to be.
Problem
Credit unions want up-to-date technology that not only saves them time and money, but also offers their members what they need.
Alanna Davison, VP of Operations with North Iowa Community Credit Union, shares the credit union’s struggles when needing signatures. “We serve a wide geographic area and have a large portion of members who open accounts with their loans through the dealerships that will never step foot in our doors. Remote Signatures allows them the convenience to utilize other products and services from wherever they reside.”
Solution
Sharetec’sRemote Signatures offers credit unions and their members a solution that saves time and is convenient for all. Employees have access to all necessary loan documents without leaving their desk. When members can’t be there, they can sign their documents electronically from anywhere.
Alanna Davison adds, “Prior to utilizing Remote Signatures our processes would take much longer. Utilizing Remote Signatures has allowed members to complete forms and even close a loan without having to make a trip to the branch or wait for snail mail. With e-Sign, we were able to electronically send forms to complete and get them back in the same day. We also love that the system notifies us when the document is complete, so you aren’t wasting time checking the que.”
Results
Alanna Davison shares how the software has positively impacted North Iowa Community Credit Union’s success with a few FAQs below.
How secure is Remote Signatures?
“We feel secure using Remote Signatures because we use Knowledge-Based Authentication (KBA), a multi-layer security strategy that verifies information from the credit report. By the time we are ready to send for an e-signature, we have already talked with the member on the phone and verified their identity through normal compliance procedures, as well.”
Which credit unions should be considering this solution?
“All credit unions should be utilizing Remote Signatures if they aren’t already! We consider this a basic business practice, and our employees use this feature daily for current and new members. We like that it is integrated inside Sharetec because it flows seamlessly into our document manager. It is nice that it is all in one place and saves our staff a lot of time. We serve a nine-county area so saving our members time by not forcing them to drive to us is providing convenience and exceptional service.” How would you rate the return
How would you rate the return on investment?
“Remote Signatures more than pays for itself. We consider it a basic cost of doing business. Not having e-signature is like not having online banking as this type of service is an expectation of our current and future members and allows our employees to work more efficiently.”
Download PDF Version