City National Bank of Taylor has grown its eSign and digital document collection completion rates more than 90% since selecting fintech Lightico as its digitization partner.

The $250 million Taylor, Texas-based bank began leveraging Lightico’s API-based, no-code, mobile-first digital completion cloud in May 2020 amid the COVID-19 pandemic.

“We were looking for an alternative to assist our customers without them having to come to the bank to sign their documents,” Erica Agundis, new account supervisor at the bank, told Bank Automation News, noting that now clients have access to their accounts from anywhere.

Since integrating the cloud-based technology, the bank has posted a 95% eSign completion rate and 90% document collection completion rate, and 62% of documents are completed within the first hour, according to a Lightico release.

The digital completion cloud, which was fully integrated by City National’s staff and ready to use within 40 days, allows the bank to digitally send account agreements, revisions, changes, letters of authorization, W-9s, driver’s license requirements and business document requests for account opening purposes, Agundis said.

For rural banks, only 20% of transactions initiated are digital, according to the release.

“It’s amazing to see how shocked people are at how up-to-date we are with tech,” Agundis told BAN, noting customers have noticed the “advanced technology but still [appreciate] a small-town feeling.”

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