When taking your organization’s paper workflow electronic, the most important component is security and compliance of documents. Protection of your company’s critical contracts and reliability of its systems to keep your contracts secure should be a top priority when evaluating electronic solutions.

In order to find the eBusiness solution that will handle your eTransactions, it is important to look for these

3 key features:

1.      Quick, Easy, and Secure Document Relocation

For the fastest transfer rate, your Electronic Vault should have secure vault to vault transfers. Contracts that are maintained in different locations should be able to be transferred in accordance with X9.110-TOLEC standard, so your documents remain legal and enforceable in any situation.

2.      Friendly with Existing Systems

Electronic vaulting solutions that allow your organizations to work with existing systems are a plus. Automating business processes is critical to improving your organization’s bottom line and increased customer service scores. Making sure any electronic system you implement has interfaces that enable your organization to develop a clear path of communication from your website or other business applications like a CRM, ECM, and Origination System, will help create a streamlined and more efficient process.

3.      Certified Ownership

To make sure your documents remain your own, electronic vaulting systems should automatically create an authoritative copy of the original file, which is one unalterable electronic original. You also want your solution to have the functionality to only allow authorized parties the ability to view critical documents.

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As adoption of paperless processes becomes more prevalent, the requirement that electronically signed documents remain protected yet accessible to authorized parties throughout the extended life of the transaction becomes more critical. This requirement has resulted in infrastructure conflict, risk management issues and process complexity for many organizations. Original documents must remain transferable, with copies forwarded to multiple downstream participants after signing and throughout the lifecycle of the document, which can potentially stretch over decades.

Strict controls must be in place every step of the way to track an original document and prove its unaltered authenticity and uniqueness. Document owners must manage discreet documents and their access rights, as well as perform ongoing audits and establish legally recognized controls.

These critical requirements can only be addressed through the use of electronic vaulting. eOriginal put together an exclusive White Paper: Advanced Electronic Vault Solutions, aimed at  helping organizations decode the difference between online storage services versus electronic vaulting and transaction management services.

*You can download this white paper today by following: this link.

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Key enhancement features include: performance, mobility, developer support, and faster time to market.

eOriginal, a leader in electronic signatures, vaulted repository and electronic transaction management solutions, is pleased to announce the availability of the latest release in the 6-Series of eCore and SmartSign Web.

This release is now available to all hosted On Demand subscribers, as well as for download by On Premise partners and customers. The new release meets two of the high-priority objectives identified by customers and partners; enhancing integration and driving performance to the next level. A host of internal performance boosting changes, both within the eVault and the eSigning components of the solution, will exceed target expectations of current clients and partners.

A simplified programming interface, additional branding, new configuration options and the introduction of a developer community portal will all help to speed up integration.  Designed in the new release are features to meet popular deployment models to embed the signing experience directly within a corporate business workflow by including SmartSign Web within an existing website or portal. These embedded solutions require the ability of SmartSign to ‘blend in’ to the surrounding web application so that it feels like a single application. The Workspace’s robust transaction management capabilities can now be offered to internal business owners, general counsel, auditors and portfolio managers, to enable partners to embed the post signing Command Center workspace with their internal systems.

“As more and more financial services companies branch out from individual stove-piped eSignature projects, we are seeing a greater need to provide enterprise-wide solutions that seamlessly integrate with a variety of internal and customer facing applications,” said Bryan Caporlette, eOriginal Chief Technology Officer. “The flexibility and breadth of our web services interfaces, coupled with the new developer community, is making it easier and faster for customers and partners to deploy eOriginal’s solutions,” said Caporlette.

The in-person signature experience within Command Center has also been upgraded. Business users can capture and merge data into forms, as well as authenticate participants who are present during the origination process.  Customers can also accelerate the transaction origination process by setting new default values for many business process rules. On the signer’s side, participants may now  easily re‐assign a transaction to another person, which is perfect for situations where a signer is not available, or when an invitation to sign was sent to an administrative assistant. SmartSign Web will automatically log all re-assignments in the audit trail and forward a new invitation to the appropriate signer.

*In addition to these exciting features, stay tuned for our second generation dedicated Mobile user interface and check out our new iOS application which is available for download on the iTunes® store.

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TCI and eOriginal Partner to Provide eSignatures and Critical Contract Security to Credit Unions, Banks and Finance Companies.

eOriginal Inc., a leader in electronic signatures, vaulted repository and electronic transaction management solutions and Teledata Communications, Inc. (TCI), the leader in affordable, semi-customizable, cloud based indirect lending software for small and mid-size lenders teamed together to deliver electronic signatures and powerful electronic transaction management capabilities to finance companies, banks and credit unions.

TCI provides a web based loan origination solution, Decisionlender, that’s used by over 350 lenders to automate the underwriting process to finance automotive, home improvement, furniture, health care and many other goods and services for consumers needing financing at the point of purchase.

“We’re excited with our recent integration with eOriginal. It is the last piece of the puzzle that now enables our lenders to be fully paperless. Our process enables our lenders to provide a unique experience for their loan sources and to the consumer, thus they gain a significant competitive edge in a hyper-competitive marketplace.”– Bill Nass , President TCI

Lenders utilizing this joint solution:

• Gain a competitive industry advantage- improve your image and reputation with an automated electronic transaction process.
• Improve customer experience- a secure, fast and simplified tool to apply electronic signatures, store and manage contracts throughout their lifespan.
• Manage risk- with eOriginal’s powerful authoritative copy management within their electronic vault, provides a secure way to manage electronically signed documents throughout their lifecycle.
• Reduce cost and time – eliminate costly printing and overnight delivery costs associated with paper loan packages. Receive a correctly completed loan package the first time and every time.

TCI enables eOriginal to access the indirect lending channel that TCI developed and is excited to enable their secure electronic transaction platform to provide a secure environment for TCI lenders to manage all of their documents that are executed in the sale process.

“Our seamless integration with TCI will give companies a smooth origination process, while helping them maximize revenue and improve client satisfaction. We’re excited to give companies a competitive advantage in the lending space.” – Bryan Caporlette, CTO/COO eOriginal, Inc.

Financial companies interested in learning more about TCI and eOriginal’s integrated solution, should call: (800)824-9069

About eOriginal, Inc.

eOriginal®, a leading provider of vaulted repository and electronic transaction management solutions, enables transactions which are tamper?sealed, auditable and legally enforceable. eOriginal has provided secure, verifiable execution, delivery and management of commercial loans, leases and other financial industry documentation for over a decade. To learn how eOriginal can streamline your business processes, visit our blog or call (410).895.7699. Find eOriginal on twitter, facebook, and LinkedIn.

About TCI

Supporting more than 350 credit unions, banks and finance companies across the United States, TCI provides affordable loan origination solutions that give direct, indirect, internet and retail lenders the edge they need to be first. For more information, visit www.tcidecisionlender.com

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Take a moment to think back to the first contract you first legally signed, as an 18+ adult. Think about all the other agreements, papers, and documents you have signed since then.

What if there were some way to keep track of every document with your signature with the touch and swipe of your finger? Using electronic signatures and electronic transaction processes, this is possible.  Transactions between yourself and other companies using official signed documents are made completely paperless when using these advanced eSignature solutions. In fact, it is usually extremely simple and easy to use; just download the software (computer or mobile app site), draw your signature using a mouse, stylus, or even your finger, and save/update any document you have that needs your signature.

The Internet can be an intimidating platform, especially when dealing with critical contracts or documents; all of the “Click here and receive $100 instantly!” and the “You just won a trip to Hawaii if you click here!” advertisements are loopholes to gain your information, along with computer viruses. A secure and trusted program is a necessity when choosing your solution. The top companies are equipped with an electronic vault system, to ensure your contracts and signatures are protected with complete security through the web. In fact, some businesses offer advanced transaction management capabilities, which maintain a secure trail on every activity throughout the lifecycle of the specific transaction. In other words, you are able to track exactly where the document is transferred, opened, and saved through theses electronic transaction management systems.

As a business owner with plenty of contracts to keep track of, the eSignature and eVault process makes running your company so much easier. The top contract managers and upscale business owners are increasing their usage of mobile eSignature applications daily. Electronic document management systems can help your organization migrate to a successful and paperless future.

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eOriginal, located at Camden Yard’s warehouse in Baltimore city got a front row seat to celebrate the incredible super bowl win! Our office cheered the team on as they arrived for their #parade and incredible homecoming!

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It’s not breaking news that businesses have directed their focus to green initiatives. Paperless lending, contract origination, cloud solutions and secure electronic signatures are more in demand today than ever before. As more and more eSignature processes are adopted, a lot of emphasis is being placed on the security of these events, as well as the handling of these valuable electronic assets post transaction.

For instance, consider that after a contract is executed & signed electronically, there could be a business or legal reason that requires additional internal and/or external parties to have specific access to the development, execution and post execution of an electronic document. These people could include auditors, attorneys, investors, business partners or joint offering parties that have an interest in the transaction/document (asset) in question. In each example, these individuals or organizations need access to those transactions, or specific documents within a transaction and in most cases demand that the process behind the transaction complies with all legal requirements or even rating agency approvals. The transaction must continue to be compliant, enforceable to maintain marketplace value.

If your organization is using electronic signatures to sign critical contracts/documents, where are you storing those documents after the signing event has taken place? There are plenty of electronic signature companies out there offering great eSignature tools, but do those vendors offer a secure compliant post signing handling of your company’s valuable documents? Well the truth, is they may not… We call them eContracts – electronic documents/transactions that often need to be securitized in the secondary markets, and must be accepted by rating agencies, in a way that fulfills the UCC 9-105 requirements on e-chattel and transferable records. These types of electronic transactions are being executed by a handful of electronic solutions on the market right now, that do have rating agency approval.

eOriginal and DocuSign will team up to deliver a live best practices webinar including guidance and success stories from industry experts and current clients. Attendees will get a road map to help them select the most compliant and rating agencies accepted electronic solution for their organization.

Join their webinar and learn how to successfully:

•  Eliminate Mail, Fax and Storage Costs – allow online access to documents while maintaining security, legality and audit trails.
• Work with Paper-based Parties – complement other parties who still require paper transactions.
• Use Existing Systems – maintain compliance and management of your electronic documents by integrating with existing systems.
• Evaluate Your Company Needs – consider current business processes and find the right solution.
• Assess Vendors – apply key techniques when evaluating different electronic solutions.
• Speed Time to Funding– transfer, collateralize or securitize faster and easier.
• Apply Industry Best Practices ­– hear top equipment lease and financial industry trends, along with key use cases.

If you’re in an organization looking to gain insight on how to successfully implement an electronic paperless process for your business, then you won’t want miss this event! Register here!

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Mac OS X recently released their new Lion Preview app, which will allow users to capture a picture of their signature and keep it on their computer, so they can cut and paste it onto PDF documents (or any documents) that require a signature, thus, allowing a person using it to eliminate scanning, faxing or mailing in signed documents.

These types of simpleeSigning apps are neat and simple to use, but without the proper authentication & security controls in place, these solutions open the door to fraud and repudiation.

Sure we’re all looking for easy ways of doing business or daily activities to reduce the cumbersome tasks associated with handling paper, but security should remain a key consideration when applying our signature to a document – whether with ink and paper or electronically.

Consider this, we live in an age where cyber-attacks are a very real threat, we hear about it on the news and some of us have even been victims – emails are hacked, Facebook, Twitter, LinkedIn ­­– all susceptible even though they have strict preventative controls in place. Does your signing app offer you any type of verification tools? If not, who’s to say someone isn’t forging your eSignature and using it elsewhere? If there’s not a security feature in your app that confirms you as the signer: You are making yourself an easy target.

Most of these eSigning applications don’t ask for consent, or offer employees or a participant a copy, among other things. Neat little apps make it very easy to capture the image or electronic representation of a signature, but they do very little to ensure the legal admissibility and enforceability of those signed documents in a court of law. So — the next time you bring up a ‘simple’ signing app consider it’s security and make sure you are protecting yourself and your eSignature.

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Consider that after a contract is executed there could be a business or legal need or cause that requires additional internal and/or external parties to have specific access to the development, execution and post execution of an electronic document/transaction. These people could include auditors, attorneys, investors, business partners or joint offering parties that have an interest in the transaction/document (asset) in question. In each example, these individuals or organizations need access to those transactions, or specific documents in a transaction, and in most cases, demand that the process behind the transaction complies with all legal requirements or even rating agency approvals. The transaction must continue to be compliant, enforceable and maintain marketplace value.

eOriginal’s post execution solution allows users to grant access to these external/internal parties and keeps detailed transaction reporting on these individual documents or assets, should they be disputed.

Before you make the jump to Electronic Signatures and Electronic Transaction Management solutions make sure your platform provides secure and enforceable records.

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The ESRA eSignature conference 2012 will bring together thought leaders from major industries to share their knowledge and best practices with regard to electronic signatures and electronic records.

eOriginal, Inc., an industry leader in electronic signatures and electronic vaulting solutions, is a founding member of the Electronic Signature and Records Association (ESRA). As a sponsor of the event, eOriginal is also privileged to have Stephen F. Bisbee assist as a Director of the Board of ESRA in hosting the ESRA eSignatures 2012 Conference in Washington D.C. on November 14th and 15th at the Embassy Row Hotel.

“The ESRA Board and membership have again secured a strong collection of speakers and panelists to provide in-depth analysis of the adoption and acceptance of electronic signature solutions in government, healthcare and a variety of industries and business processes. Attendees will receive the most incisive and timely information possible on legal trends, best practices, and an array of national and international legislative, regulatory and industry issues,” said Mr. Bisbee, the President and CEO of eOriginal.

This year, ESRA will bring together leaders from major industries to share their knowledge and best practices. Their insights and presentations will focus on increasing eSignature awareness and adoption of electronic signature and electronic records across all industries and business functions. Key industries to be covered will include: Financial, Healthcare, Technology and Legal and key speakers will include:

• Honorable John M. Facciola, United States Magistrate Judge, U.S. District Court, District of Columbia
• Honorable Paul M. Grimm, Chief U.S. Magistrate Judge, U.S. District Court for the District of Maryland
• Marcia Berner, ACORD
• Bob Catlin, Signature Mortgage
• James Sheire, U.S. Department of Commerce, NIST
• Edward Walsh, Corporate Vice President of New York Life Insurance Company
• David Whitaker, Wells Fargo Financial Services
• and more!

To attend, you can Register Here or for additional details, please see the ESRA website: http://www.esignrecords.org or call 800.560.ESRA.

We hope to see you, as well as your colleagues, at the conference. Please let us know if you have any questions.

About ESRA

The Electronic Signature and Records Association (ESRA) is an important initiative focusing on eSignatures and electronic records. The ESRA members represent a prestigious group of corporations, both technology providers and “user” companies offering technology applications to their customers. Education and public policy are the foundation of the mission of ESRA. The association is a centralized educational resource for its members and the public with respect to the legal, regulatory and operational issues in relation to the use of electronic signatures and records.

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