Great River FCU Strikes Balance Between Human Touch and Digital Transformation with IMM eSign and Video Banking

IMM, the only eSignature provider that specializes in eSignature and digital transaction solutions exclusively for financial institutions, today announced St. Cloud, Minnesota-based Great River Federal Credit Union has successfully deployed IMM eSign with Lending 360 in a video banking environment. The credit union now processes 100 percent of member loans completely electronically, both online and in all four branch locations, significantly boosting operational efficiencies across the entire organization, while enabling a more engaging, enhanced member experience.

When Great River FCU deployed video banking technology in-branch, they knew they needed an e-signature solution to create a completely digital process for their members. The credit union looked to its existing provider IMM and together were able to create a system in which a loan officer in any branch could share documents to be signed with a member at a video banking kiosk and guide them through the electronic document signing process directly on the kiosk.  The credit union also stations an in-branch coordinator to provide additional assistance and guidance if needed.

“The feedback from members across all demographics has been resoundingly positive,” said Derek Rudolph, chief information officer at Great River Federal Credit Union. “We now have one specialized lending team that can serve members in all four branches instantaneously which has ultimately reduced wait times, eliminated paper, boosted efficiency, and enabled our lending experts to pool resources and capabilities to benefit the entire team as well as our members. As a result, loan production each month has gone up, as well as our cross-sell rates of ancillary products.”

IMM eSign, when used in the Lending 360 environment, delivers an enhanced and engaging consumer experience. The technology seamlessly integrates to streamline anything from signing loan applications to conducting loan maintenance transactions. For in-person signing, members can sign documents using traditional signature pads, tablet devices, touch-enabled monitors, and even standard desktop PCs.

Rudolph added, “With IMM eSign, our members now have the opportunity to conduct transactions at the time and location of their choosing. In keeping the human element alongside

the sophisticated technology, we provide our member’s services where they like to bank and have been able to find the balance between convenience and service to best serve our community. At this point, all consumer loans are processed through this system as well as every single new account opening with IMM eSign.”

Philip Elwyn​, vice president of client and partner success for IMM, said, “Our work with Great River FCU began because the credit union needed e-Signature technology that was customized specifically for credit unions. Now, we have been able to build a credit union-focused solution that meets their unique needs and enables the CU to deliver a modern, easy and appropriate process with real bottom-line benefits.”