Central 1 Launches e-Signature Solution

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Central 1 is now offering its 3.1 million members paperless account opening and lending with electronic signature solution eSignLive.

The financial institution partnered with VASCO, a cybersecurity technology company, to integrate eSignLive into Central 1’s new omni-channel member and loan origination solution. The e-signature option provides its customers a new way to transact in its branches, on mobile devices and online.

“It’s a complete digital experience – identity can be digitally verified and consent and signatures collected without the customer depositing a cheque or filling out paperwork,” said Kelly West, Central 1’s AVP Product Management in a press release. “The integration of e-signatures offers operational efficiencies for credit unions and significantly enhances the user experience for their members.”

The Vancouver-based institution provides its members with a wide range of services including liquidity management and direct banking. The eSignLive solution will also give members the ability to fund new accounts with Interac e-Transfer.

Moving away from in-person only lending, e-signatures will allow Central 1 to compete with national banks already offering digital services.

“Financial institutions are increasingly pressed to serve members digitally and ensure member value in the services they deliver,” said VASCO President and COO Scott Clements. “In partnership with Central 1, VASCO will help ensure credit unions and other financial institutions are able to see the value in enabling digital services and enlisting their members’ trust in transacting in the digital world.”

eSignLive – also used by RBC – is available in all Central 1’s member credit unions in BC and Ontario.

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