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IMM Solution Suite Case Study

Lake City Bank

The Opportunity: Applying eSignatures Across the Bank

Lake City Bank saw an opportunity to create new process efficiencies and save costs by reducing its use of paper. The $3.4 billion bank also recognized the value that electronic transactions would have on its ability to elevate current customer service levels.

The Technology: IMM’s eSignatures for In-Person and Remote Signing Events

The Indiana-based bank selected IMM’s eSignature technology as the platform that would allow them to achieve their goals. IMM’s eSignature technology were quickly incorporated into processes throughout multiple departments. First applying eSignatures to its new account desk, Lake City Bank found that employee training could be completed in less than one hour. Based upon initial results, the bank anticipated its eSignature capabilities would also accomplish multiple objectives simultaneously, including:

  • Reducing the use of paper across the institution as well as in every branch.
  • Limiting reliance on traditional courier services to transport documents.
  • Providing consumers a more expedient and exciting in-branch experience.
  • Incorporating new technology and services to complement online account opening options.
  • Enabling consumers to eSign documents in-person or remotely from any location and from any device.

The Impact: Improved Productivity and Cost Savings

Lake City Bank has experienced positive results and plans to further apply IMM’s eSignature technology to new areas, such as consumer lending and sales management. Early outcomes of the bank’s eSignature deployment include:

  • Dramatic reductions in its use of paper, while cutting costs associated with printing documents and transporting them via courier service. Electronic documents are more quickly eSigned and returned, after which they become automatically archived into the Bank’s Imaging system.
  • Reduction of human error and mistakes associated with manual processes.
  • Significantly reduced the number of signature exceptions flagged during new account openings, which can be attributed to its replacement of paper-based processes with IMM’s eSignature automation.
  • IMM’s eSignatures intuitively guides signers through documents, indicating where signatures or initials are required. This feature simplifies the capture of required signatures for contracts for new commercial customers, which can be up to 60 pages long depending on the number of addenda.
  • Lake City Bank understands that its customers are busy, and knows they appreciate accelerated in-branch interactions. Expedient eSignature processes keep their wait time minimal when they visit a branch, while also giving them the opportunity to sign documents remotely from the location most convenient for them.

 

IMM’s eSignature platform, TotaleAtlas, and complementary remote eSignature service, Document Exchange, deliver an intuitive, consumeroriented signing experience. Financial institutions have access to a wide range of flexible eSignature methods, including both in person or remote options to maximize customer convenience. The technology integrates with virtually all business applications and ensures completed documents and audit trails are securely and permanently stored within a financial institution’s imaging system. Visit our Resources page to learn much more about how IMM’s eSignature solutions can work for you.

Case Studies

Lake City Bank

Lake City Bank saw an opportunity to create new process efficiencies and save costs by reducing its use of paper. The $3.4 billion bank also recognized the value that electronic transactions would have on its ability to elevate current customer service levels.