Eltropy has recently introduced E-Notary to facilitate faster loan closings for credit unions and community banks.

This new feature allows CFIs to perform secure, state-compliant electronic notarizations during video banking sessions in real time.

The implementation of E-Notary within the Eltropy Unified Platform is expected to resolve a significant bottleneck that often causes delays ranging from days to weeks, potentially reducing member dissatisfaction. Credit union and community bank staff can now complete notarizations for signers in less than seven minutes without needing separate appointments or third-party tools.

Eliminating In-Person Notarial Friction

The traditional method of in-person notarization poses substantial hurdles, particularly for credit unions with members who reside outside their branch network. This can lead to lengthy processes and increased costs for both CFIs and consumers, including travel expenses and notary fees.

E-Notary is designed to offer a digital-first experience that matches the expectations of today’s tech-savvy customers, while still preserving the personalized approach characteristic of community financial institutions.

The tool supports various departments, such as contact centers for customer service, treasury services for managing multiple signers, and wealth management for high-net-worth clients. Additionally, it allows for the creation of customizable templates to ensure consistent and compliant workflows across different teams.