Philadelphia FCU Offers Web Channel for Remote Signatures
The $683 million institution is the first to use IMM's Web Gateway with the Linden, N.J., document management and automation specialist's TotaleAtlasWeb remote signature capture tool, the company said.
The Web Gateway solution merges virtual print capabilities for financial institutions that have a pre-existing merge engine, the company said.
PFCU said it has completed nearly 300 remote signings in the two months the service has been available. The solutions were chosen to help the credit union deal with concerns about continuing its open-end lending programs, PFCU said.
"Several members have limited time to visit a branch because of inflexible work hours or travel schedules, and others simply are not located close to a facility. Providing our members with remote signature technology has enabled us to capture business that we otherwise would have lost," said Claire Ippoliti, vice president of lending at 99,000-member PFCU.
The secured Internet channel also is safer than faxed transmissions, she said, and efficiency and accuracy on the part of both staff and members is improved over the use of manual processes.
"PFCU saves time and increases transaction volume with automated processes that enable employees to take a more proactive approach to member service," she said.
Third-party integration also is enhanced, according to the credit union's assistant lending manager, Regina Carolan.
"Our loan processors appreciate that all required signatures are captured prior to automatic importing into our imaging system," she said.
Chuck Klein, CEO at IMM, said, "TotaleAtlasWeb and Web Gateway extend these features and benefits to non-integrated LOS, cores and other third-party systems already employed by banks and credit unions."
Klein said his company's products now are in place at about 600 financial institutions and integrate with more than 20 core processors and major compliance vendors. PFCU runs on a Symitar Episys core system.