eSignLive Wins Prestigious IBM Lotus Award
e-SignLive™ Named Best in Business Transformation Through Cloud Computing
Montreal, QC, January 31, 2011 - Silanis Technology today announced that e-SignLive™, its electronic signatures service for LotusLive, has been awarded the IBM Lotus Award in the Business Transformation Through Cloud Computing category for the 17th annual IBM Lotus Awards. e-SignLive™ is also a finalist in the Banking Industry Solution Providing Business Value category.
The IBM Lotus Awards recognize exceptional IBM PartnerWorld members that specialize in Lotus software solutions and have excelled at providing quality products, innovative solutions and superior services to customers. For the 2011 Lotus Awards, over hundred of applications were received from many countries around the world.
e-SignLive™ is an integrated electronic signature service for IBM LotusLive that enables organizations to invite their customers, partners, and suppliers to instantly sign documents electronically over the web, while harnessing the power of online collaboration and social networking during the negotiation and pre-signing process.
Since the service was launched at last year’s Lotusphere event, organizations from a wide range of industries have adopted e-SignLive™ to replace their pen and paper processes with a completely electronic signing process, including mortgage, insurance, government, healthcare, education, legal, and professional services.
“The benefits of eliminating the time-delays, risks, and costs associated with signing paper documents have exceeded our initial expectations,” said Bob Catlin, founder and CEO of Signature Mortgage, a regional mortgage provider who uses the e-signing service to process over 90% of its consumer mortgage applications.
“While we knew moving to paperless mortgage processing would have an immediate impact on our bottom line, we were surprised by the intangible benefits that enabled us to achieve the ROI numbers we’ve been seeing.”
Since Signature Mortgage began using e-SignLive™ with LotusLive in October of last year, the company has reduced the time to process mortgage applications from 10 days down to less than 48 hours. This enables mortgages to be closed in less than 25 days compared to the industry average of 45 to 60 days, and ensures Signature Mortgage can deliver on its rate promise to customers. Moreover, the mortgage provider has increased its loan volume by 34%, and decreased processing costs by 85%.
“What we didn’t expect was the impact that e-SignLive™ would have on our staff and customers,” added Catlin. “The technology has given our loan officers a competitive weapon. They now believe they can compete with the large national players, and so they communicate with clients with more confidence and impact.”
“More importantly, our customers love the technology. We get unsolicited emails from customers saying how it was the easiest, smoothest and fastest mortgage application experience they’d ever had, and how they’re going to recommend Signature Mortgage to family and friends.”
As a cloud-based service, e-SignLive™ offers the quickest time to market with the lowest up-front investment. Because there is no software or hardware to purchase, integrate or deploy, organizations can be up and running in a matter of minutes. For a low monthly subscription fee, business users can invite an unlimited number of people outside of their organization to e-sign an unlimited number of documents over the web – at no extra charge. Individuals, small businesses and large organizations challenged with limited IT resources and budgets can leverage this cost-effective, cloud service with the assurance that it is just as secure and reliables as Silanis’ trusted, enterprise solutions.
Silanis' solutions have processed hundreds of millions of e-signatures since the company was founded in 1992 (50 million in 2010 alone), making it the most widely used e-signature solution. The world’s largest insurance and financial services companies, government agencies, and service providers depend on Silanis to accelerate business transactions and reduce costs while improving compliance with legal and regulatory requirements. The company’s on-premise, cloud and SaaS e-signature solutions eliminate manual, paper-based processing to enable e-commerce and e-government transactions to be executed fully electronically from start to finish.