Eltropy Launches E-Notary to Enable Same-Day Loan Closings for Credit Unions and Community Banks

Eltropy, the leading AI-powered conversations platform for community financial institutions (CFIs), today announced the launch of E-Notary, allowing CFIs to complete secure, state-compliant electronic notarizations during live video banking sessions. The new capability addresses a critical operational bottleneck that delays loan closings by days or weeks and drives member abandonment.

Built directly into the Eltropy Unified Platform, E-Notary allows credit union and community bank staff to complete notarizations in under seven minutes per signer without requiring separate appointments, third-party tools, or branch visits. Consumers can complete the entire process — from identity verification through document signing — during a single video conversation.

Traditional in-person notarization creates significant friction for both CFIs and their consumers. Approximately 5.1 million U.S. credit union members live outside convenient branch access, while in-person mortgage notarizations typically require multi-day lead times for scheduling and document registration. Each in-person or mobile loan signing costs up to $200 in notary fees alone, plus additional expenses for travel, printing, courier services, and staff coordination.

“Credit unions and community banks are losing loans to fintech lenders and larger banks that offer same-day remote notarization,” said Abhishek Tiwari, Chief Product Officer, Eltropy. “Consumers expect the same digital-first experiences they get from other financial services providers. E-Notary gives CFIs the tools to compete on speed and convenience while maintaining the relationship banking that sets them apart.”

E-Notary supports multiple departments beyond lending, including contact centers for first-call resolution, treasury services for coordinating multiple authorized signers, and wealth management for serving high-net-worth clients remotely. Community financial institutions can create reusable templates with predefined signer roles and notary fields to maintain consistent, compliant workflows across teams. The solution has received approval from several state regulators already, with many additional states in the final approval stages.

“The operational impact goes beyond cost savings,” added Tiwari. “We’re seeing credit unions close loans the same day, reduce abandonment rates, and expand their lending footprint beyond physical branch locations. For members in rural areas or those with mobility limitations, this changes what’s possible.”