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Transformative Technologies For Credit Unions

How credit unions can transform members’ in-branch experience with multi-function hardware for document management, review, and electronic signatures.

As consumer technology has evolved in the past two decades, our expectations for financial services are changing, leaving credit unions to keep up or risk falling behind the curve as other financial and non-financial institutions meet the growing needs of consumers.

While overall branch visits are declining, members have come to expect new and different things from their branch experience. Members expect a seamless omnichannel experience where they can switch between digital and physical services without disruption. Members expect to be able to transfer funds on their phone, look up their portfolio on the web, and talk to an investment advisor in branch at the same time.

In addition, the advent of large scale marketing automation has left customers expecting a new level of personalization and customization in their interactions with businesses and service providers. Credit unions are not exempt from this development, driving a need for new technologies to deliver consistent customization and personalization throughout every interaction, both online and in-branch.

Supporting all these changing demands requires credit unions to look for new branch technologies to support the transition from a transactional to a consultative sales process and from a uniform upsell program to a personalized network of offers.

For credit unions, this is driving a major physical transformation for branches and branch technology.

New Tools For Branches

So, what can be done to help deliver a customized, consultative in branch experience that integrates seamlessly with members virtual experience? A dynamic growth opportunity is in updating branch technologies for collecting and managing electronic signatures at the teller window.

Electronic signatures are one of the simplest and most transformative investments that a credit union can make for its in-branch experiences. Utilizing electronic signatures can enhance security and reduce the burden of hard copy document storage and retention. But more importantly for credit union members, electronic signatures can help reduce wait times, increase ease of access, and help staff communicate better with members throughout their visit to your branch.

To take full advantage of this, credit unions should focus on tools that help them to both engage in active communication with members (for example, reviewing investment portfolios or signing a new home loan) and do double-duty by providing advertising space or serving another secondary function when not in use. This can help credit unions both save space and enhance service at the same time.

For example, members at the teller window are a captive audience, making the teller window an ideal target for customized advertising and upsell offers. However, space constraints have made this a challenge for many credit unions. To address this, a growing number of credit unions are switching to full-color signature pads or pen displays that allow them to display rotating marketing images or videos when not in use for signing. This allows credit unions to maintain a paperless workflow for any transaction, provide customized offers and up-sells to members, and avoid adding any additional hardware to an already overcrowded teller window.

Integrating Remote & In-Person Transactions

To improve integration between remote and in-person experiences, credit unions should also look to invest in an integrated system for document review and signature that flows naturally between a member signing at home on his computer and signing in branch. By utilizing a combination of software and hardware like IMM’s eSign software with Wacom’s interactive pen displays, credit unions can provide a continuous user experience throughout the signing process. This dynamic solution allows credit unions to capture handwritten electronic signatures in-branch, without sacrificing the convenience of click-to-sign workflows for remote signers.

For example, a couple refinancing their home loan can have the husband review and sign their loan agreement in person on a Wacom pen display but their partner could do the same thing remotely while on the road. This dynamic eSignature workflow can accommodate the varying needs of members and allow branch staff to be more present throughout the transactions, rather than running back and forth to printers and scanners.


These investments in multi-function, multi-channel branch technologies can provide real world dividends to credit unions looking to achieve a consistently better member experience and customize member interactions to deliver better service and enhance member loyalty.

Author: Mike Dana, Business Development Manager, Financial Services, Wacom Technology. Mike is responsible for managing the development and implementation of eSignature solutions for credit unions and across the U.S. and Canada. Contact Mike at mike.dana@wacom.com or visit Wacom online at http://esignature.wacom.com/credit-unions/.

About Wacom: Wacom’s vision to bring people and technology closer together through natural interface technologies has made it the world’s leading manufacturer of interactive pen tablets solutions for electronic signatures. Wacom’s patented technology is perfect for capturing handwritten signatures thanks to high resolution and accuracy. With a Wacom signature device, members can secure and efficiently process their workflows wherever documents are filled out, signed, and verified.

This article is sponsored by a recognized solutions provider in the credit union industry. Callahan & Associates does not endorse vendors or the solutions they offer, and the views and opinions offered here might not reflect those of Callahan. If you are interested in contributing an article on CreditUnions.com, please contact the Callahan team at ads@creditunions.com or 1-800-446-7453.
September 25, 2017

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