Integrated Media Management® (IMM), a document output management and automation technology provider, today announced that 59,500-member Purdue Federal Credit Union has successfully implemented TotaleAtlasWeb™.
The secure Web-based document delivery and remote digital signature capture solution enables credit union members to review and sign documents from any location at their convenience.
Purdue FCU wanted to extend its paperless and e-signature capabilities to consumer lending in an effort to broaden its current member retention initiatives. With the credit union's obvious university ties, it has the potential to experience significant turnover each year and an inability to serve members not within driving distance of a branch, limiting the possibilities for effective long-term relationships. With IMM's TotaleAtlasWeb, Purdue FCU has removed any barriers to non-local members to complete loans, as the technology enables them to access loan documents remotely and apply all required signatures.
Nikki Gaylord, vice president of lending for Purdue FCU, said, "Retention plays a big role at our credit union, and has really fueled our technological progressiveness. We set out years ago to make as many services available online as possible: shared branching, online banking, mobile banking. Our loan officers had already gone paperless for lending in-branch, so introducinge-signatures was a natural next step and an added benefit that is noticeably appreciated by all members."
TotaleAtlasWeb provides secure document viewing and public key infrastructure (PKI) digital signature capture via the Web, supporting financial transactions with a high trust and enforceable technology for loan documents that are signed remotely. The technology offers a safer delivery alternative and drives greater efficiencies and cost savings in the lending process. While most transactions to date at Purdue FCU have occurred from out-of-state members, the offering has proven appealing to local members as well. Since implementation, the credit union has enabled its staff to spend more time with members coming inside a branch to speak with an MSR, resulting in greater business.
"Like many other credit unions with university ties, Purdue FCU's retention efforts are all about communicating the institution's long-term benefit to the member," added Chuck Klein, CEO of Integrated Media Management. "TotaleAtlasWeb provides the missing e-signature component to lending, which allows all financial institutions to grow the availability of services and not be limited by branch hours and geographic reach."