Teachers Credit Union Takes a Lead with Silanis Technology E-Signatures
MONTREAL, QC (PRWEB) July 03, 2013 -- Silanis Technology, a leader in enterprise electronic signature solutions with over 600 million documents processed annually, today announced that Teachers Credit Union, a regional financial services organization providing short term loans, has implemented Silanis’ e-signing service e-SignLive™.
Teachers Credit Union services customers across the vast region of southern Ontario region and chose to implement e-signatures to help change their business. With customers previously being required to visit a branch to either open an account or secure a loan, documents could take a minimum of 24 hours to complete. Members were often moving or travelling which did not make it convenient to get to a branch. Now, the online loan process enabled with e-signatures allows customers to review documents from any location and sign online or over the phone in as few as 15 minutes, not only saving time but also improving the customer experience.
“Providing the ability for our members, who are disbursed across a wide geographic area, to sign documents from anywhere creates an edge that allows us to compete with larger financial institutions. We are offering a higher level of service which today is important to retaining existing and attracting new members,” said Kathy Clark, vice president of sales, service and operations with Teachers Credit Union.
Silanis’ level of electronic evidence was important in the decision to move to an online process. The e-signature solution digitally signs each document but it also captures signing process including every web page and action that a consumer takes. And to ensure the identity of the signer, the credit union verifies this when a copy of the member’s identification arrives along with a cheque for the member’s share. “From a regulatory perspective, should we ever need to collect on a loan document, we wanted it to be able to stand up in court,” continue Clark.
“E-signatures can deliver immense value to credit unions, and not just in relation to cost and time savings,” said Silanis CEO and co-founder Tommy Petrogiannis. “Straight through processing is all about providing better customer service to their members while also helping the credit union stay compliant with industry regulations,” continued Petrogiannis.
In the future, Teachers Credit Union plans to roll out electronic signatures to branches, call centers and other customer-facing channels as needed.
About Silanis
Silanis is the most widely used e-signature solution in the world, responsible for processing more than 600 million documents annually. Founded in 1992, Silanis’ solutions e-Sign Enterprise and e-SignLive enable thousands of organizations, including four of the top 10 North American banks, eight of the top 15 insurance companies and the entire US Army to accelerate business transactions, improve customer experience and reduce costs while improving compliance with legal and regulatory requirements. Silanis provides the most flexible deployment options with its on-premise, cloud and SaaS e-signature solutions, eliminating manual, paper-based processing and enabling e-commerce and e-government transactions to be electronically executed from start to finish.
Sarah Milner, Silanis Technology, http://www.silanis.com/, 250-216-1762, [email protected]
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