Community Bank Achieves over 90% Completion Rate for New Accounts, Loan Waivers and More
Company
City National Bank of Taylor, a Texas-based community bank founded in 1900, has a long history of great customer service and frequent, personal interaction with their customers. However, the coronavirus pandemic threatened to jeopardize this reality as remote interactions made business as usual impossible.
CNBT wanted to ensure that could continue to go above and beyond their motto: “Expect modern tech with old-fashioned, friendly service.”
Challenge
Limited Connectivity With Consumers
Throughout the Covid-19 pandemic, CNBT relied on drive-thru stations to interact with its customers. While this mode of communication was safe, it also created a barrier to connecting with customers. As a result, steps in customer-facing processes took longer to complete, and turnaround times increased. CNBT needed to find an alternative, more accessible way to interact with customers.
With the goal of accelerating banking processes and improving business results, CNBT team searched for a solution that would allow customers to easily sign forms and submit documents from their smartphone in real-time, without having to bounce between multiple channels or download apps.
A colleague recommended to CNBT’s president that he look into Lightico to help with the account opening process. After digging deeper, CNBT decided to adopt the Lightico Digital Completion platform.
Solution
A Digital Completion Platform for Seamless Transactions
CNBT chose Lightico because it was the only platform capable of digitizing every step of the customer lifecycle — from eSignatures to eForms to ID verification. With the Lightico Digital Completion platform in place, CNBT was finally able to communicate with customers in real time and deliver a seamless and digital experience.
With Lightico, CNBT customers can open their account remotely while on the phone with an agent, eliminating prolonged processes and the need to visit a branch or drive-thru.
Agents send customers a text message or email link where they are able to fill in their personal details and submit official documents or forms. Customers are then able to simply swipe or type to sign the document and their identity is verified by uploading a selfie and a photograph of their ID. This instant process reduces the call center burden, simplifies service requests, and reduces break points in the customer journey. Admins use Lightico’s no-code workflows to reduce manual agent effort and decision-making, and update business rules on the fly.
CNBT uses Lightico for:
- Account opening: Enabling the new accounts department to digitally onboard customers
- Customer service: Stopping payments through remote eSignature
- Updating account IDs: Allowing credentials to be quickly updated
- ACH loan payments: Allowing customers to pay instantly with their mobile phones
- Waivers
- Used 3x day
“It’s been especially refreshing to see our older customers ask for us to mail them something and we can say, 'How about we just do it electronically right now on your phone?' Once we explain the possibility and how it works, it's great to see how someone who isn’t necessarily tech savvy can easily complete whatever process they want with our staff — all while on the phone.”
Erica Agundis, New Account Supervisor
Business Impact
A Competitive Boost, Delighted Customers
With customers able to digitally complete the journey from their channel of choice (mobile device or desktop computer), CNBT credits Lightico with boosting its efficiency and customer satisfaction. Even older customers, who initially request snail mail forms, are pleasantly surprised by how easy the digital experience is.
“Lightico has been a homerun for us and we’ve been using it non-stop since it was implemented. We are known as a small town bank that is privately-owned but the truth is that even though we are a community bank, we have significant capabilities. It’s amazing to see how shocked people are at how up-to-date we are with tech — and Lightico is a significant part of that.”
Erica Agundis, New Account Supervisor
Conclusion
As a local, privately owned bank, CNBT can now differentiate itself with digital offerings that are light years ahead of its competitors’. By offering customers a way of paying, signing and verifying their identity in one place, CNBT has eliminated the friction that plagued its account opening and servicing processes.