How Centric Trimmed Down Loan Approval Time by 95%

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by Team Eltropy

Our friends over at Centric were running into issues with slow member response times (in some cases, no responses at all). These slow/no responses were affecting multiple departments across their Credit Union, especially their loan department. Centric already had a Texting service in place, but it wasn’t giving their team the power to utilize Texting to its maximum potential.The service lacked ability to dynamically route conversations, and didn’t comply with proper security regulations to obtain sensitive documents via Text. This proved to be a major frustration for Centric’s lending team, and their Text service wasn’t enabling them to provide service via Text in the ways in which their members wanted to be serviced. That’s when Centric turned to Eltropy.

“Text communication, or meeting a member on their most comfortable channel of communication is key to a successful lending relationship. Switching over to Texting from emails and calling has been amazing. We’re completing some loan applications in as little as 10 minutes.” –

Kristen Shambro, Omni Manager

Through omnichannel capabilities across multiple departments, Centric was able to meet members on their schedule, on their preferred method of communication. The lending department saw a huge increase in response time for loan applications, specifically when it came to the speed of reaching their members. Mid-day phone calls were being ignored as members were at work, and emails were being responded to incredibly slowly as members weren’t actively checking their emails. Text Messaging with the inclusion of a secure link allowed members to submit forms and fill out applications far quicker than before while at work. With the inclusion of a direct docusign integration, loan applications were being completed within hours instead of days, resulting in major acceleration for time to funding.

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