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Peoples Credit Union Building a Paperless Future

January 19, 2015

Peoples CUThe People’s Credit Union is a community credit union that has served the people of Rhode Island since 1922. Located in Rhode Island, Peoples has six branch locations.  Each branch uses iDentifi.eSign to capture electronic signatures for transactions, new accounts and account maintenance.  The Credit Union uses iDentifi.eReceipt for electronic transaction processing, iDentifi.Trak for monitoring required documents and iDentifi workflows for efficient and streamlined verification and quality control.

The Credit Union uses Pax units for eSign processing on the teller line and Topaz units for new account processing.  Currently, electronic signatures are used for all over-the-counter teller transactions as well as all deposit related documents, such as, new consumer and business account signature cards, safe deposit box agreements, account maintenance forms, IRA administration documents, ATM/Debit Card agreements and so much more.

The eSign functionality has brought many benefits to the Credit Union including increased operational efficiency, stronger controls and security, enhanced member service and a decrease in our operational tasks and costs.

Tellers are able to process transactions faster, with minimal paper to clutter their teller stations.  Documents are automatically uploaded to the iDentifi web system reducing the possibility of getting misplaced while complementing our clean desk policy.

Teller and new account staff now have instant access to member and account documents and our research requests are now completed in just a few minutes whereas before, staff had to wait (sometimes days) while operations staff sifted through paper files that were locked in vaults and file cabinets.

In addition, now that we have streamlined operations and eliminated the need for filing paper documents, the Credit Union is able to take on more strategic projects without having to hire new staff to support these goals.   Bethany Cottrell, Core Systems Manager, People’s Credit Union

The eReceipt functionality enables the Credit Union to process member transactions quickly, securely and efficiently.  Electronic receipts are automatically stored to the iDentifi web system.  If a member needs a copy, tellers can quickly and easily pull and print copies of receipts.  Receipts processed through the drive-up include a barcode and are quickly and easily scanned into document storage as part of the tellers everyday process.  The eReceipt module is easily customizable which allowed the Credit Union to choose which transactions require an eReceipt and which do not.

The iDentifi system provided the Credit Union with customizable and easy to use security and retention tools.  Access has been limited to only those individuals that have a business need, including auditors who may need access to very specific documents for auditing purposes.  In addition, People’s has set very detailed retention schedules eliminating the need to manually track documents that need to be securely destroyed.

The People’s Credit Union also utilizes iDentifi workflows for both quality control purposes and approvals of any scanned loan documents and deposit related eSign documents.  Documents are automatically placed in the beginning stage of the work flow.  Operational staff are able to easily move documents throughout each step of the workflow process until all documents are completed and approved.  Users use the sticky note feature to notate any comments or approvals.

iDentifi.Trak is the newest module that the Credit Union has added to its processes.   iDentifi.Trak allows the Credit Union to monitor specific documents to ensure they have been loaded into the iDentifi system.  Our operations staff use the robust reporting that is included in the iDentifi.Trak system to monitor pending items and exceptions.  On a regular basis, the iDentifi system looks to see if any missing documents have been added to the system to automatically clear out any exceptions.

Over the next year or so, People’s Credit Union hopes to expand eSign to all loan related documents.  This will be the last accomplishment in our goal of converting to a paperless environment.

The iDentifi.Net ECM Suite from Integra Business Systems, Inc. provides document management solutions addressing today’s challenging needs for ROI, secure storage of documents and information; while aiding you with regulatory and compliance issues.

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