MONTREAL, QC--(Marketwired - April 09, 2014) - Silanis Technology, the leading electronic signature provider for business, announced today that Cal Poly Federal Credit Union has chosen e-SignLive™ for its members comprised of students, alumni, faculty and staff. The cloud-based e-signature service not only provides convenience and security when electronically signing disclosures, loan documents and personnel paperwork but also ensures the process and documents are completed in a compliant manner.
The California-based credit union is focused on building excellent relationships with its members and was on the lookout for solutions that would provide a more efficient loan application experience. "Our members are busy and if they're alumni, they may not even live near the campus," explained Barbara Bean, president and CEO of Cal Poly Federal Credit Union. "But our members have access to computers, smart phones and other mobile devices all the time. With e-SignLive, distance and busy schedules no longer impede securing a loan. They can take their time to go over documents and sign wherever and whenever they want. Our members love the convenience and think we're rock stars."
According to Forrester, by 2020, the majority of e-signature transactions will be launched from mobile devices. The credit union is already making strides with this trend by leveraging signers' personal smartphones for authentication on loan documentation and disclosures. Using e-SignLive, a one-time passcode is generated and sent to a signer's mobile device as an SMS text message. The passcode is then entered prior to giving the signer access to the transaction.
"Many credit unions struggle with limited IT resources so having the option to start with a solution that requires no integration is key," said Tommy Petrogiannis, CEO and co-founder of Silanis. "By implementing e-signatures -- whether through on-premises or cloud-based platforms -- credit unions can enhance member service, and improve operational efficiency and accuracy.
e-SignLive incorporates digital signature technology and embeds the signature audit trail information directly into the e-signed document. This creates a tamper-evident document and helps ensure non-repudiation. Regardless of whether the signature is scripted and captured on an iPad or with a click-to-sign button on a PC, the intent and consent of a signer is captured.
The credit union is also using e-signatures for personnel and board documentation, including HR notices, consents and email votes. e-SignLive presents all online documents as they would be on paper, in the correct order on any web browser. Documents and data relevant to the signing process are securely captured and stored. This includes reproducing the exact appearance and order of all web screens, documents and legal disclosures; how long the person spent on each page; and all actions they took during the review and signing process.
Recently, CUNA Strategic Services, Inc. (CSS) chose Silanis Technology as its exclusive electronic signature provider for U.S. credit unions. Through this alliance, credit unions will benefit from significantly reduced pricing and the reassurance that CSS has done extensive due diligence and chosen an electronic signature solution appropriate to address the unique needs of credit unions. To learn more about the program, click here.
Silanis Technology and Cal Poly Federal Credit Union will be giving a joint presentation at the 2014 American's Credit Union Conference in San Francisco on adding e-signatures with minimal investment and IT effort.
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+.