Baltimore, MD (Vocus/PRWEB) – August 6, 2009 -eOriginal, Inc., a leader in enabling end-to-end paperless transactions, announced today that Pioneer Services, the Military Banking Division of MidCountry Bank, has joined eOriginal’s high-level financial institution client list and is using the electronic signature and vaulting solution of SmartSign® Web and eCore® On Demand. Transactions for Pioneer Services will now be executed electronically and managed throughout their lifecycle within the eCore® electronic vault.
“eOriginal’s electronic signature solutions go beyond document generation and basic electronic signatures” said, Samantha Moritz, eOriginal’s director of sales and marketing. “In addition to electronically signing each loan transaction, eOriginal ensures that each signed document is authenticated and protected using digital signatures to create tamper-evident seals around all documents placed under the control of the electronic vault. Important documents may be maintained in an authenticated electronic format for their full legal life.”
Once the contracts are electronically signed, eOriginal’s vaulting technology creates a digitally sealed audit trail for the complete lifecycle of each deposited document. This secure audit trail provides the highest level of non-repudiation of the evidentiary record for events such as access, signing, reuse, print, or view requests by any user or external system. Actions affecting admissibility or enforceability including new versions, additional electronic signatures, assignment, and custody transfers – are tracked and permanently recorded in the audit trail.
The resulting document is a legal, tamper-proof eContract that eliminates the need for any physical paper processing. The eContracts are true electronic finance documents that are tamper-evident, auditable, legally enforceable, admissible, and negotiable. eOriginal electronic signature and vaulting solutions are also compliant with ESIGN, UETA and UCC Revised Article 9-105.
For additional information on the news that is the subject of this release (or for a demonstration), contact John Jacobs at 410-625-5149, or visit www.eoriginal.com.
About eOriginal
eOriginal, Inc. provides advanced electronic signature and vaulting solutions which enable organizations to eliminate paper while legally protecting their assets as Electronic Original® documents are managed and transitioned throughout their lifecycle. eOriginal technology and processes create legally binding electronic signatures and electronic documents that are tamper-evident, auditable and legally enforceable. eOriginal technology provides compliance for managing electronic signatures and transferable records under E-Sign, UETA and the UCC. eOriginal customers, including top-tier financial institutions, have processed more than 5 million electronic signatures on documents without a single system error or legal challenge.
About Pioneer Services
Pioneer Services, the Military Banking Division of MidCountry Bank, provides financial services and award-winning education to members of the Armed Forces. For more than 20 years, Pioneer Services has been a leader in military lending, offering military loans and award-winning financial education programs through a network of offices and on the Internet. Pioneer Services is proud to support military families and communities through a variety of partnerships, programs, and sponsorships. For more information, visit PioneerServices.com.
Stephen Walker is a new addition to our sales and marketing team and recently went through the onboarding process. This process inspired his first blog post below. Welcome, Steve!
Author: Stephen Walker
eOriginal Sales and Marketing Manager
If your organization is like most around the country, your new hire “onboarding” process is difficult, cumbersome, and un-friendly to the environment. The average company has many forms that the new hire must read and sign prior to appearing for their first day of work. Included among these are the various federal and state forms that are required, such as the Form I-9 & W4 withholding form. These forms and policies, when coupled with your required corporate forms can present a tremendous challenge and a real waste of training time for your new employee. In addition, the amount of paper generated and stored from multiple employee hirings in any given year is tremendous and does have a cumulative negative effect on the environment and to the conservation of resources.
Fortunately, technology has provided a solution, electronic signatures and eVaulting. Imagine how much wasted time and effort could be recovered by sending your new hire an employment packet via a secure email link delivered from your own web site. The soon to be employee logs onto your site through a secure link and enters a password that has been provided to him or her prior to signing on. The prospective employee can review and sign all required policies and forms with an electronic signature. The forms can then be digitally signed and housed in a secure tamper proof electronic vault where their audit history can be verified if ever needed for purposes of non-repudiation. The ability to sign documents electronically and securely store them can help human resources professionals take advantage of technology to vastly increase onboarding productivity and thus better assist their organization in automating the onboarding process. There are several ways in which electronic onboarding can assist in the process for bringing New hires aboard but one of the most important is corporate socialization of the new employee.
The vast majority of company web sites provide only general information to prospective employees, such as mailing address and telephone numbers for the main reception desk or human resources department. They are not yet tailored to provide a new hire with specific information pertaining to their new role in your organization. End to End electronic signature and vaulting solution providers such as eOriginal provide both the HR professional and the new hire with the ability to electronically sign and securely store as many documents as needed to comply with corporate governance and regulatory demands. The new hire has the ability to print or download watermarked copies of his or her offer letter, employment agreement, non-compete or NDA or any other pertinent documents and the Human Resource professional and the company have secure, digitally signed and wrapped documents that can stand up to authenticity challenges. The documents remain under the control of the company and can be destroyed if needed through a certified process that is audit trail verified. Electronic delivery and signing of these materials are much more effective than paper and can often replace most or all of the need to send post office mail or over-nighted forms. Documents that don’t necessarily need to be signed but do require an acknowledgement of receipt or agreement to uphold such as a corporate handbook or guidebook can be set up for that as well.
Automated & electronic onboarding can save your organization a great deal of time & money as well as providing a secure, enforceable legally compliant process. It is also a great way for Human Resources departments to participate in your company’s green initiative.
Automation of Dealer Finance Transactions with electronic signatures for 12,000 Dealers will Speed Transactions for Customers and Dramatically Reduce Costs
eOriginal, Inc., a leader in electronic signatures, eVaulting and electronic transactions, announced today that a leading US Automotive Finance Company selected eOriginal SmartSign® Web to enable the creation and completion of electronic dealer finance transactions. The adoption of electronic signatures among their 12,000 plus dealers will significantly reduce the funding cycle, eliminate incomplete loan documentation and decrease associated transaction processing costs.
The dealer finance company will initially deploy electronic signatures for the documentation executed among the 12,000 dealers in their network. The solution will allow for consistent implementation, support and the adoption of standardized processes across all dealers.
The conversion to electronic signatures will transition the dealer finance company from paper based processes and the substantial costs related to paper reproduction, storage and manual processing to an end – to-end efficient electronic process. This transition will improve customer service, lower costs and improve the “re-write” rate. Dealers are constantly re-writing deals because of lost documents and omitted signatures. With eOriginal’s SmartSign® Web electronic signature and vaulting solution, documents are never lost and signatures can never be missed or omitted.
eOriginal’s SmartSign® Web and eCore® Vaulting technology was selected after a thorough review of marketplace options. The ability to centralize and electronically manage documentation was a significant driver in the decision to adopt electronic signatures. A key competitive advantage for the dealer finance company choosing eOriginal’s solution over other vendors was eOriginal’s secure and legally compliant electronic vault. eOriginal ensures that each signed document is authenticated and protected using digital signatures to create tamper-evident seals around all documents placed under the control of the electronic vault. Important documents may be maintained in an authenticated electronic format for their full legal life.
I recently had the opportunity to sit down with Allan Levine, Chief Operating Officer of Madison Capital, LLC www.madisoncapital.com and discuss the overall impact of implementing eOriginal’s electronic signature solution. Allan has been in the leasing business for over 35 years (I know! …I thought he was only 40 too) and has seen many technology products come and go… from the hand held calculator to electronic signatures. He made the decision to deploy electronic signatures at Madison Capital over a year ago and has seen much success as a direct result. Take a look at this short video clip of my interview with Allan and his take on the benefits Madison Capital has reaped from an ROI perspective through to improvements to their overall process.
Stay tuned for more segments of this interview in the coming weeks… you can also watch this electronic signature video directly on YouTube: http://www.youtube.com/watch?v=06spg2netDM
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