US-based CrossFirst Bank has deployed eSign for Banks solution from eSignature platform IMM to provide an end-to-end digital transaction lifecycle for employees and customers.
IMM provides eSignature and digital transaction solutions for financial institutions.
The bank wanted an interoperable and cohesive solution irrespective of the system used by employees to produce documents, or those used by clients to sign documents.
The $4.7bn, cloud-based CrossFirst Bank intended to provide a unified digital experience for bankers and clients across its seven locations in four US states.
After considering various options, CrossFirst Bank selected IMM’s e-signature platform, eSign for Banks, due to the e-signature and digital transaction solutions provider’s work with financial institutions.
CrossFirst Bank achieves immediate results with IMM eSign
CrossFirst Bank process improvement director Drew McMonigle said: “Our focus has always been on how technology can improve the functions of the bank and the way we do business.
“With IMM eSign, we have found a way to execute documents electronically so that our bankers can do business anywhere at any time.”
“The team at IMM was always available to truly understand how their product would work and integrate with our business solutions.”
The bank claimed that it saw results immediately after implementation, as it was able to cut the turnaround time on completed/signed documents from weeks to under six hours.
Reduction in turnaround time has also resulted in cost savings and revenue generation for the bank in the form of reduced postage and deposits on which it can earn income.
The bank also achieved non-interest income because of faster onboarding of clients.
IMM markets and strategy vice-president Michael Ball said: “CrossFirst Bank is now able to fulfill consumer’s expectations and, in many cases, exceed them with a solution built specifically for banks and the unique manner in which Bank’s must conduct business.
“Now, CrossFirst can deliver new and dynamic methods for consumers and corporate clients to complete and sign documents at a place and time that is convenient for them, while enhancing back-office processes and associated tasks to improve transaction compliance and process flow across the institution.”
