The right tools for success
The Island Savings region of First West found there was an opportunity for IT to transform and innovate. K2’s process automation platform allowed the team to put the right tools in the hands of power users in order to align processes and make members’ experiences memorable and enjoyable.
With K2, the business banking application process transformed from a slow, paper-based, and unwieldy system into a simple, digitized two-step process. The process no longer requires weeks of work and multiple sessions. Rather, all questions are asked only once and the member only needs to make two trips to the credit union before they’re ready to go: one for information gathering and once more to bring in any paperwork to sign the documents.
“With K2, we can take the member process from hours— and multiple sessions—down to less than 40 minutes,” says Arrowsmith. “It’s a much better experience for the member, and it’s easier for member service representatives to get involved in new business banking opportunities.”
K2 is also a key component of First West’s electronic content management (ECM) system. The system integrates with KnowledgeLake and sits on top of Microsoft SharePoint, allowing employees to easily manage the previously complex mortgage paper signing process. Now, signing mortgage papers is a completely digital experience, from the moment a member walks in until it gets funded.