Linden, NJ | May 5, 2015
Lake City Bank Deploys IMM eSignatures
IMM, a pioneer of integrated eSignature, workflow and document solutions for the modern business enterprise, announced today that $3.4 billion Lake City Bank has deployed a complete IMM eSignature environment to support both in-person and remote signing events.
Based in Indiana, the bank is quickly assimilating eSignatures into processes across the enterprise. Lake City first applied IMM’s eSignatures to its new account desk, which required less than one hour of training for CSRs. Since implementation, the bank has removed associated document printing, as forms sent out for eSignature are returned and immediately archived for later research and viewing. The bank has also dramatically reduced the number of signature exceptions flagged during new account openings.
Lake City also incorporated eSignatures into treasury management. Capturing signatures is now more easily achieved on contracts for new commercial customers, which are up to 60 pages in length depending on the number of addenda. The flexibility and dynamic nature of IMM’s comprehensive eSignature platform moves signers quickly through the contract, indicating each place where a signature or set of initials is required.
Angie Ritchey, senior vice president and operations/technology manager, Lake City Bank, said, “We want to get down to using minimal paper in every branch location and come close to eliminating the need for courier services. More than that, we want our customers to know their time in-branch is kept at a minimum and that we understand each minute counts; they will not have to sit and wait. IMM’s solutions are reliable, valid and are proving to be the ideal complement to our online account opening options.”
IMM’s complete eSignature platform, TotaleAtlas, enables consumers to sign documents where and when they choose, without the restriction of a branch footprint or operating hours. Lake City is next moving eSignatures into its consumer lending experience and then to its sales management solution to extend the conveniences and benefits of IMM’s technology even further.
“Lake City presents a great picture of how eSignatures can be relevant to multiple, diverse areas of a single organization, consumer facing or not,” said John Levy, IMM executive vice president and ESRA (Electronic Signature & Records Association) board member. “Legislation and other regulatory guidance have increased the number of required forms and disclosures for many financial transactions. Keeping these processes manual puts significant burden on an organization, and can easily disrupt or inconvenience the consumer. eSignatures can help relieve these pressures while also creating efficiencies and reducing the cost of doing business.”
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 650 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.