|By Marketwired .||
|June 2, 2014 06:00 AM EDT||
MONTREAL, QC--(Marketwired - June 02, 2014) - Silanis, provider of the leading electronic signature solution e-SignLive™, today announced several new and expanded customer wins, including Santander Consumer Bank USA Inc., U.S. Bank and RBC Royal Bank, making e-SignLive the e-signature standard among eight of the top 20 banks in North America.
With over 50 percent of its customers in banking and lending, e-SignLive has the largest share of the e-signature market in these industries and is considered the leading e-signature and e-vaulting solution for financial services. Silanis was also recently named the preferred e-signature provider for the Credit Union National Association (CUNA), serving over 6,700 credit unions in the United States.
For today's constantly connected digital customer, the convenience of anywhere, anytime banking is vital. According to research released in March 2014 from AlixPartners, 60 percent of smartphone/tablet users reported mobile banking capabilities as "important" or "extremely important" in the decision to switch from one bank to another. A key enabler of mobile transactions, e-signatures give mobile users the freedom to transact on their device -- while also enabling a better banking experience where they can open an account or complete a loan application without ever visiting the branch.
"In response to competitive pressure and customer expectations, retail and commercial institutions of every size are embracing e-signatures and digital processes to offer customers and members a convenient, fast and more efficient way of doing business," said Tommy Petrogiannis, Silanis CEO and co-founder. "In the last 24 months, e-transactions -- which are only possible because of e-signatures -- have become the preferred choice among banks and lenders. Our customers are seeing record adoption across new account openings, loans and mortgage applications, as well as a reduction in risks and costs."
Silanis' growth among banks and credit unions is evidenced by the success of its customers, including:
Industry's Most Proven ROI:
e-SignLive is used to process over 600 million documents annually. Silanis' customers have:
- Avoided $16 million in administrative costs annually across one bank;
- Eliminated courier costs across 9,000+ branches with the largest secure delivery of e-disclosures in banking;
- Removed paper from 10 million new account openings annually across 3,000+ branches, with 90 percent of customers choosing e-signatures over paper;
- Saved 80,000+ administrative hours (equivalent to 40 full-time employees);
- Eliminated 90 percent of errors in lending and other banking documents;
- Expanded market reach from 28 to 48 states without opening new branches;
- Increased revenue 100 percent after adopting an electronic process for mortgage origination.
Highest Adoption Rates: Because e-SignLive provides the best customer experience in any channel, financial institutions
are seeing record adoption rates after implementing it, including:
- Over 92% adoption in account openings and certificates of deposit (branch);
- Over 90% in consumer lending and small business (branch);
- Over 99% in mortgage applications and disclosures (online or F2F);
- Over 70% in auto financing (F2F);
- Over 99% in student lending (online).
Improving customer experience is just one of the benefits of e-signatures and e-transactions. Banks and credit unions are also looking to strengthen compliance. With e-SignLive, each step of the e-sign workflow is controlled, ensuring documents are presented and signed in the right order, and there are no missing signatures or data. Digital processes also provide better visibility into transactions and reduce risk by removing manual, error-prone intervention. Both the financial institution and the customer can be assured of a compliant e-transaction, backed by comprehensive electronic evidence.
Silanis also offers banks and credit unions a single e-signature platform for on-premises and SaaS deployment. For institutions looking to maximize their e-signature investment, choosing a platform that supports multiple deployments -- combined with the ability to create a mortgage e-note or e-chattel paper -- makes it easy to implement e-signatures in consistent way across many lines of business.
Committed to promoting the adoption of electronic signatures in banking and lending, Silanis actively participates in a number of industry associations, including the Electronic Signatures & Records Association (ESRA), Standards & Procedures for Electronic Records & Signatures (SPeRS), Mortgage Industry Standards Maintenance Organization (MISMO), American Financial Services Association (AFSA) and Mortgage Electronic Registration System (MERS).
In 2013, Silanis was awarded the IBM Beacon Award for Best Industry Solution for Banking.
About Silanis Technology
Businesses of all sizes choose Silanis Technology when e-signatures matter. With more than 600 million documents processed every year, e-SignLive™ is the most widely used e-signature solution around the world. Thousands of organizations, big and small, including the leading banks, insurers, credit providers, pharmaceutical and government agencies trust e-SignLive as their platform to make business digital. On premise or in the cloud, e-SignLive delivers the best customer experience while improving legal and regulatory compliance. Learn more: www.silanis.com, Twitter, LinkedIn, Facebook and Google+.
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