Major captive auto lender e-contracting with eSignLive e-signatures

September 19, 2007

The financial services arm of a major premium auto manufacturer has recently expanded its use of Silanis electronic signature solutions to encompass e-contracting. This key Silanis client is another step closer to taking its entire financing process electronic.

Montreal, QC, September 20, 2007 — Silanis Technology, the leading electronic signature provider, today announced expanding use of its Web-based signing solution for electronic contracting by a major international captive auto finance company.

In 2004, recognizing the benefits of e-signatures, this luxury auto manufacturer's lending division began using Silanis' solutions to cut processing times for end-of-lease paperwork. The initiative's success led the company to look at other opportunities to improve operations and customer service with e-signatures.

"This client is known for its commitment to exceptional service at every customer touch point, whether online, at the dealership or over the phone," said Richard L. Warren, CEO, Silanis.

"Silanis solutions are a natural choice in this case, because our flexible enterprise suite supports the very different requirements of several auto finance processes."

Silanis' ApproveIt® Web Server now allows the company's customers to complete and sign credit applications online, from the convenience of their homes; it also allows them to quickly and easily e-sign auto finance documentation at the dealership, using a Web browser and custom-branded signature capture pads.

The addition of electronic signatures improves the customers’ experience, reduces contracting errors and speeds up funding to dealers to provide a more efficient process for all parties. It also ensures legally enforceable business records.

The final step, Silanis' ApproveIt® Transferable Records Manager securely stores the electronic contracts, making the resulting loan documents available for securitization in accordance with UCC 9-105 requirements.

About Silanis

Founded in 1992, Silanis Technology Inc. is the largest and most experienced provider of electronic signature solutions. More than 1,400 government and commercial organizations, representing two million users, depend on Silanis' solutions to accelerate operations, improve service and reduce costs.

The company's solutions not only eliminate the inefficiencies of paper; they provide reliable and auditable business records needed to demonstrate compliance with applicable laws, standards, regulations and policies.