How many times have you or your credit union sent out multiple paper copies of documents to be signed, only to have the process stall?
How many times have you or your credit union sent out multiple paper copies of documents to be signed, only to have the process stall? You call the member and they say they never received the document. Or they sent it back to you…didn’t you receive it? Or it’s in the process of being routed around to internal approvers and signers…they’ll need to get back to you next week when they have time to track it down.
This is one of the hidden ‘costs’ of using paper and ink signatures. When you can’t immediately determine where a document is in a signature process, you can’t take action to speed it up. And in the meantime, your credit union’s revenue is in limbo, instead of being a productive part of your business. If your profit is always waiting on that one signature, you need to be considering electronic signatures.
With a digital signature service like SIGNiX, no longer will your credit union be in the dark about where a document is. Rather, electronic signatures can usher in ‘signature omniscience,’ where your members, staff and managers can know at any given time where each document is in an electronic signature process. You can see which transactions have yet to get a first signature, and send out an email to that first signer to login and complete their task. You can see if the fifth approver on a process is taking a nap, and slowing it down for the rest of his colleagues. And you can see which transactions have been completed, putting a smile on your face… as well as your Accounting departments.
SIGNiX is a business partner of Credit Union Resources, Inc., and is being used by hundreds of credit unions across the U.S. to expedite the loan process, sign new members and streamline manual processes. For more information, visit www.signix.com or email email@example.com.
To learn about other business partners of CU Resources, please visit www.curesources.coop/partners.html.