SOURCE: DocuSign, Inc.

October 11, 2006 07:00 ET

Great Lakes Increases Transaction Rate 300 Percent With DocuSign Electronic Signature Service

With This Implementation the Company Provides Faster Access and More Efficient Loan Servicing to Millions of People

SEATTLE, WA -- (MARKET WIRE) -- October 11, 2006 -- DocuSign®, the leading on-demand electronic signature service, today announced Great Lakes, one of the largest providers of student loan services in the U.S., has automated its signing process with DocuSign electronic signatures.

Within its first few months of use, DocuSign improved efficiency in the Great Lakes Loan department and enhanced customer service as well as supporting compliance with FFIEC regulations. "The DocuSign solution delivers a seamless flow that contributes to a significant decrease in the number of applications requiring follow-up," said Bruce Rashke, Chief Administration and Loan Consolidation Officer for Great Lakes Educational Loan Services, Inc. "We processed 300 percent more loan applications than in the previous week and the DocuSign system never faltered."

In the first two months after implementing the online loan application which incorporated DocuSign's electronic signature solution more than 80 percent of the 72,000 applications received through the online process were e-signed, automatically encrypted and digitally archived using the DocuSign solution. While the driver for adding electronic signing to the loan process was to improve customer service, the organization has seen the additional benefit of mail costs dropping 75 percent for applications completed through the online process.

"While looking for a seamless customer service solution, we are fortunate to have found a synergy with DocuSign that gives us exponential benefits. We are planning four additional DocuSign implementations in the consolidated loans division," said Rashke.

About Great Lakes

Great Lakes Educational Loan Services, Inc. is one of the largest providers of student loan services in the U.S. Headquartered in Madison, WI, the company interacts with over 2,700 schools and 1,400 lenders and services more than 1.8 million borrowers. The mission of Great Lakes is to assure cost-effective educational access to millions of people.

About DocuSign

DocuSign is the leading and most trusted electronic signature service, assisting over 750 corporate customers worldwide to process millions of transactions per year. DocuSign is widely recognized as having the most flexible and easy to use signature service available anywhere. DocuSign's customers represent industry leading companies in financial services, real estate, CRM, leasing, manufacturing, technology and communications. DocuSign, Inc. is a privately held company based in Seattle, Washington.

Contact Information

  • CONTACT:

    Kathryn Ellis
    Public Relations Manager
    DocuSign, Inc.
    ph. 206.965.8603