Customer Story

Digitizing Loan Applications for Contactless Service

Customer Story

Digitizing Loan Applications for Contactless Service

Customer Story

Digitizing Loan Applications for Contactless Service

Customer Story

Digitizing Loan Applications for Contactless Service

Customer Story

Digitizing Loan Applications for Contactless Service

Customer Story

Digitizing Loan Applications for Contactless Service

Do you need to go paperless in order to provide contactless service to your customers? When a credit union with nearly 100,000 members needed to switch to digital services, they turned to Brand Interactive Communications and Formstack to digitize nearly 20 different paper-based loan applications.
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Brand Interactive Communications has over 20 years experience ranging from the development of corporate branding to printed collateral. They offer a diverse range of services that not only meet the demands of the changing markets but endeavor to maintain a developmental position at the cutting edge of industry standards and innovations.
Financial Services Marketing
2020
Digital Loan Applications
Documents, Forms
Calculating Fields, Conditional Logic, File Uploads
Customer Story

Digitizing Loan Applications for Contactless Service

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Customer Story

Digitizing Loan Applications for Contactless Service

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About the Episode
Episode Highlights
Meet our Guest

Challenge

When COVID-19 created a huge need for contactless services, a large credit union reached out to Brand Interactive Communications for help. All their loan applications--including mortgages, auto loans, personal loans, and business loans--were paper-based PDFs. The process took almost two weeks to complete and required members to come to a branch to submit the paperwork. With six branches and nearly 20 loan officers, the credit union needed a way to quickly adapt their paper applications to a fully digital process.

Solution

Brand Interactive Communications created an entirely digital, secure loan application process using Forms and Documents. Using Conditional Logic, the member is only shown form questions related to their loan type. Hidden Calculating Fields create an overall application rating, which allows loan officers to pre-approve applicants. Once an application is completed, members receive an automated completion notification in minutes, and their information is sent through Zapier to ActiveCampaign. The information is then sent to Documents, which creates a professional, branded loan application for final review, sign-off, and storage.

Results

Digitized the entire loan application process

Saved one hour of loan officer time per loan application

Enabled member confirmation notifications in minutes

Reduced loan processing time from two weeks to just a few days

Streamlined loan pre-approvals to happen within an hour

Encrypted data to ensure a secure end-to-end loan process

Customer Story

Digitizing Loan Applications for Contactless Service

Customer Story

Digitizing Loan Applications for Contactless Service

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Introduction

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Challenge

When COVID-19 created a huge need for contactless services, a large credit union reached out to Brand Interactive Communications for help. All their loan applications--including mortgages, auto loans, personal loans, and business loans--were paper-based PDFs. The process took almost two weeks to complete and required members to come to a branch to submit the paperwork. With six branches and nearly 20 loan officers, the credit union needed a way to quickly adapt their paper applications to a fully digital process.

Solution

Brand Interactive Communications created an entirely digital, secure loan application process using Forms and Documents. Using Conditional Logic, the member is only shown form questions related to their loan type. Hidden Calculating Fields create an overall application rating, which allows loan officers to pre-approve applicants. Once an application is completed, members receive an automated completion notification in minutes, and their information is sent through Zapier to ActiveCampaign. The information is then sent to Documents, which creates a professional, branded loan application for final review, sign-off, and storage.

Results

Digitized the entire loan application process

Saved one hour of loan officer time per loan application

Enabled member confirmation notifications in minutes

Reduced loan processing time from two weeks to just a few days

Streamlined loan pre-approvals to happen within an hour

Encrypted data to ensure a secure end-to-end loan process

Panelists
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Infographic

Digitizing Loan Applications for Contactless Service

Learn how Brand Interactive Communications used Formstack to digitize nearly 20 different paper-based loan applications for a credit union.
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Challenge

When COVID-19 created a huge need for contactless services, a large credit union reached out to Brand Interactive Communications for help. All their loan applications--including mortgages, auto loans, personal loans, and business loans--were paper-based PDFs. The process took almost two weeks to complete and required members to come to a branch to submit the paperwork. With six branches and nearly 20 loan officers, the credit union needed a way to quickly adapt their paper applications to a fully digital process.

Solution

Brand Interactive Communications created an entirely digital, secure loan application process using Forms and Documents. Using Conditional Logic, the member is only shown form questions related to their loan type. Hidden Calculating Fields create an overall application rating, which allows loan officers to pre-approve applicants. Once an application is completed, members receive an automated completion notification in minutes, and their information is sent through Zapier to ActiveCampaign. The information is then sent to Documents, which creates a professional, branded loan application for final review, sign-off, and storage.

Results

Digitized the entire loan application process

Saved one hour of loan officer time per loan application

Enabled member confirmation notifications in minutes

Reduced loan processing time from two weeks to just a few days

Streamlined loan pre-approvals to happen within an hour

Encrypted data to ensure a secure end-to-end loan process

Challenge

When COVID-19 created a huge need for contactless services, a large credit union reached out to Brand Interactive Communications for help. All their loan applications--including mortgages, auto loans, personal loans, and business loans--were paper-based PDFs. The process took almost two weeks to complete and required members to come to a branch to submit the paperwork. With six branches and nearly 20 loan officers, the credit union needed a way to quickly adapt their paper applications to a fully digital process.

Solution

Brand Interactive Communications created an entirely digital, secure loan application process using Forms and Documents. Using Conditional Logic, the member is only shown form questions related to their loan type. Hidden Calculating Fields create an overall application rating, which allows loan officers to pre-approve applicants. Once an application is completed, members receive an automated completion notification in minutes, and their information is sent through Zapier to ActiveCampaign. The information is then sent to Documents, which creates a professional, branded loan application for final review, sign-off, and storage.

Results

Digitized the entire loan application process

Saved one hour of loan officer time per loan application

Enabled member confirmation notifications in minutes

Reduced loan processing time from two weeks to just a few days

Streamlined loan pre-approvals to happen within an hour

Encrypted data to ensure a secure end-to-end loan process

Collecting payments with online forms is easy, but first, you have to choose the right payment gateway. Browse the providers in our gateway credit card processing comparison chart to find the best option for your business. Then sign up for Formstack Forms, customize your payment forms, and start collecting profits in minutes.

Online Payment Gateway Comparison Chart

NOTE: These amounts reflect the monthly subscription for the payment provider. Formstack does not charge a fee to integrate with any of our payment partners.

FEATURES
Authorize.Net
Bambora
Chargify
First Data
PayPal
PayPal Pro
PayPal Payflow
Stripe
WePay
ProPay
Monthly Fees
$25
$25
$149+
Contact First Data
$0
$25
$0-$25
$0
$0
$4
Transaction Fees
$2.9% + 30¢
$2.9% + 30¢
N/A
Contact First Data
$2.9% + 30¢
$2.9% + 30¢
10¢
$2.9% + 30¢
$2.9% + 30¢
$2.6% + 30¢
Countries
5
8
Based on payment gateway
50+
203
3
4
25
USA
USA
Currencies
11
2
23
140
25
23
25
135+
1
1
Card Types
6
13
Based on payment gateway
5
9
9
5
6
4
4
Limits
None
None
Based on payment gateway
None
$10,000
None
None
None
None
$500 per transaction
Form Payments
Recurring Billing
Mobile Payments
PSD2 Compliant

Challenge

When COVID-19 created a huge need for contactless services, a large credit union reached out to Brand Interactive Communications for help. All their loan applications--including mortgages, auto loans, personal loans, and business loans--were paper-based PDFs. The process took almost two weeks to complete and required members to come to a branch to submit the paperwork. With six branches and nearly 20 loan officers, the credit union needed a way to quickly adapt their paper applications to a fully digital process.

Solution

Brand Interactive Communications created an entirely digital, secure loan application process using Forms and Documents. Using Conditional Logic, the member is only shown form questions related to their loan type. Hidden Calculating Fields create an overall application rating, which allows loan officers to pre-approve applicants. Once an application is completed, members receive an automated completion notification in minutes, and their information is sent through Zapier to ActiveCampaign. The information is then sent to Documents, which creates a professional, branded loan application for final review, sign-off, and storage.

Results

Digitized the entire loan application process

Saved one hour of loan officer time per loan application

Enabled member confirmation notifications in minutes

Reduced loan processing time from two weeks to just a few days

Streamlined loan pre-approvals to happen within an hour

Encrypted data to ensure a secure end-to-end loan process

Challenge

When COVID-19 created a huge need for contactless services, a large credit union reached out to Brand Interactive Communications for help. All their loan applications--including mortgages, auto loans, personal loans, and business loans--were paper-based PDFs. The process took almost two weeks to complete and required members to come to a branch to submit the paperwork. With six branches and nearly 20 loan officers, the credit union needed a way to quickly adapt their paper applications to a fully digital process.

Solution

Brand Interactive Communications created an entirely digital, secure loan application process using Forms and Documents. Using Conditional Logic, the member is only shown form questions related to their loan type. Hidden Calculating Fields create an overall application rating, which allows loan officers to pre-approve applicants. Once an application is completed, members receive an automated completion notification in minutes, and their information is sent through Zapier to ActiveCampaign. The information is then sent to Documents, which creates a professional, branded loan application for final review, sign-off, and storage.

Results

Digitized the entire loan application process

Saved one hour of loan officer time per loan application

Enabled member confirmation notifications in minutes

Reduced loan processing time from two weeks to just a few days

Streamlined loan pre-approvals to happen within an hour

Encrypted data to ensure a secure end-to-end loan process

Challenge

When COVID-19 created a huge need for contactless services, a large credit union reached out to Brand Interactive Communications for help. All their loan applications--including mortgages, auto loans, personal loans, and business loans--were paper-based PDFs. The process took almost two weeks to complete and required members to come to a branch to submit the paperwork. With six branches and nearly 20 loan officers, the credit union needed a way to quickly adapt their paper applications to a fully digital process.

Solution

Brand Interactive Communications created an entirely digital, secure loan application process using Forms and Documents. Using Conditional Logic, the member is only shown form questions related to their loan type. Hidden Calculating Fields create an overall application rating, which allows loan officers to pre-approve applicants. Once an application is completed, members receive an automated completion notification in minutes, and their information is sent through Zapier to ActiveCampaign. The information is then sent to Documents, which creates a professional, branded loan application for final review, sign-off, and storage.

Results

Digitized the entire loan application process

Saved one hour of loan officer time per loan application

Enabled member confirmation notifications in minutes

Reduced loan processing time from two weeks to just a few days

Streamlined loan pre-approvals to happen within an hour

Encrypted data to ensure a secure end-to-end loan process

Challenge

When COVID-19 created a huge need for contactless services, a large credit union reached out to Brand Interactive Communications for help. All their loan applications--including mortgages, auto loans, personal loans, and business loans--were paper-based PDFs. The process took almost two weeks to complete and required members to come to a branch to submit the paperwork. With six branches and nearly 20 loan officers, the credit union needed a way to quickly adapt their paper applications to a fully digital process.

Solution

Brand Interactive Communications created an entirely digital, secure loan application process using Forms and Documents. Using Conditional Logic, the member is only shown form questions related to their loan type. Hidden Calculating Fields create an overall application rating, which allows loan officers to pre-approve applicants. Once an application is completed, members receive an automated completion notification in minutes, and their information is sent through Zapier to ActiveCampaign. The information is then sent to Documents, which creates a professional, branded loan application for final review, sign-off, and storage.

Results

Digitized the entire loan application process

Saved one hour of loan officer time per loan application

Enabled member confirmation notifications in minutes

Reduced loan processing time from two weeks to just a few days

Streamlined loan pre-approvals to happen within an hour

Encrypted data to ensure a secure end-to-end loan process

Challenge

When COVID-19 created a huge need for contactless services, a large credit union reached out to Brand Interactive Communications for help. All their loan applications--including mortgages, auto loans, personal loans, and business loans--were paper-based PDFs. The process took almost two weeks to complete and required members to come to a branch to submit the paperwork. With six branches and nearly 20 loan officers, the credit union needed a way to quickly adapt their paper applications to a fully digital process.

Solution

Brand Interactive Communications created an entirely digital, secure loan application process using Forms and Documents. Using Conditional Logic, the member is only shown form questions related to their loan type. Hidden Calculating Fields create an overall application rating, which allows loan officers to pre-approve applicants. Once an application is completed, members receive an automated completion notification in minutes, and their information is sent through Zapier to ActiveCampaign. The information is then sent to Documents, which creates a professional, branded loan application for final review, sign-off, and storage.

Results

Digitized the entire loan application process

Saved one hour of loan officer time per loan application

Enabled member confirmation notifications in minutes

Reduced loan processing time from two weeks to just a few days

Streamlined loan pre-approvals to happen within an hour

Encrypted data to ensure a secure end-to-end loan process

Time is money. Formstack took this process from one hour to just seconds. Processing is so much faster, meaning we can go from thousands of loans a month to doing that many in a day.
Cliff Joseph
Owner of Brand Interactive Communications
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