Fortune 500 financial services firm selects eSignLive’ e-signature solution to enable straight-through processing across its enterprise
Montreal, QC, July 16, 2010 - Silanis Technology today announced that a Fortune 500 financial services firm has chosen Silanis as its enterprise electronic signature provider. The financial services firm will use Silanis’ ApproveIt Web Server to reduce the time, cost and risk of getting customer signatures in documents by keeping the process electronic from start to finish. The Fortune 500 firm provides its more than 2.5 million members with a variety of insurance, banking and investment products and services. The firm will first deploy ApproveIt Web Server to enable its members to change the beneficiary of life insurance policies over the web. The firm then intends to roll out the e-signature solution across other lines of business in order to capture new customers electronically at its retail, call center and web channels, and provide superior service throughout the lifetime of its relationship with customers. The firm also plans to use e-signatures in its HR/Recruiting, Field Contracting and Licensing, and Centralized Services departments in order to eliminate paper from internal signing processes . “Being an organization that prides itself on improving the quality of life of its members and their families, delivering exceptional customer service is a priority,” said Tommy Petrogiannis, CEO and co-founder of Silanis. “Silanis e-signatures will enable this Fortune 500 financial services firm to achieve this objective by making it faster and more convenient for its customers to open an account, apply for a loan or insurance policy, make changes to their policies, portfolios and products, and more.” ApproveIt Web Server was chosen as the firm’s enterprise e-signature solution after having demonstrated successful proof-of-concepts for streamlining insurance and loan applications, e-contracting, and policy changes. However, a number of other important factors weighed in the firm’s decision to select ApproveIt Web Server over several competing solutions. The financial services firm required a flexible and scalable solution that would enable the e-signing process to be customized for its individual business processes with the ability to choose the most suitable signature capture and authentication method for each of its sales channels and signing environments. As a dedicated e-signature solution, ApproveIt Web Server meets these requirements by providing the firm with a highly customizable solution that supports both a ‘Click-to-sign’ process for its call center and web channels, as well as signature capture tablets and SMS and voice authentication for its retail and agent channels. The financial services firm also required that the e-signature solution provide a secure and reliable method for capturing and reproducing people’s signatures in documents in compliance with all legal and regulatory requirements. ApproveIt Web Server meets this requirement by executing transactions electronically from start to finish, while enforcing business rules and recording the entire process to produce the strongest possible electronic evidence. This includes all web pages and documents that were presented, viewed, signed or accepted, how long people spend on each page, and more. And finally, the e-signature solution had to support tight integration with the financial service firm’s core IT systems in order to ensure a seamless, straight-through process and maximize the firm’s investments in its policy administration system, Adobe LiveCycle, IBM FileNet Enterprise Content Management system, IBM Web Application Server, and Oracle database. “After a thorough competitive selection process, ApproveIt Web Server was chosen because it is the only solution that could meet the unique requirements of the financial service firm’s multiple lines of business,” said Petrogiannis. “And as a highly flexible and scalable, enterprise e-signature platform, ApproveIt Web Server will grow with the firm’s e-signing needs, while reducing the time, cost and complexity of porting new applications to the system.” About Silanis Silanis Technology Inc. is the leading provider of Electronic Signature Process Management solutions. The world’s largest insurance and financial services companies, major government agencies, integrators and service providers depend on Silanis to accelerate business transactions and reduce costs while improving compliance with legal and regulatory requirements. The company’s electronic signature platform, ApproveIt®, is an enterprise-class e-signature process management solution that transforms paper-based business transactions to all-electronic, Web-based processes for e-commerce and e-government.