eSignLive Publishes New Case Study: Student Lender Attains 99% E-Signature Adoption on 30,000 loans
Montreal, QC, January 26, 2012 - Silanis, the leader in enterprise electronic signature solutions with the largest e-signature deployments, today published a new case study that explains how a State Student Loan Authority deployed Silanis’ enterprise e-signature and e-vaulting solution to accelerate $350M worth of loan approvals from ten days to mere hours. On the first day they went live with Silanis’ enterprise platform, this lender attained an astounding 99% adoption rate – a number that holds steady today, after a full annual business cycle using e-signatures.
By e-signing approximately 30,000 loans each year, this organization has cut operational costs, radically transformed customer experience and stepped up to a more competitive position.
While the organization had originally posted the 14-page loan application package online, they quickly discovered that they still needed to offer e-signatures to gain the benefits of online processing. By deploying Silanis’ enterprise e-signature solution, they slashed the loan approval process from weeks to hours and in some cases, minutes; decreased abandonment rates; eliminated staff overtime; and virtually eliminated shipping costs. The lender has since extended e-signatures to other loans.
Silanis is the most widely used e-signature solution in the world, processing over 600 million documents annually. Since the company was founded in 1992, our solutions have strengthened the business processes of thousands of organizations, including four of the top North American banks, five of the top 10 insurance companies and the entire US Army, among others. Companies and government organizations around the globe depend on Silanis to accelerate business transactions, improve customer experience and reduce costs while improving compliance with legal and regulatory requirements. Silanis’ on-premise, cloud and SaaS e-signature solutions eliminate manual, paper-based processing and enable e-commerce and e-government transactions to be electronically executed from start to finish.