September 19, 2013
Compliance Systems Inc. (CSi), a provider of transaction risk management technology, today announced a strategic partnership with eOriginal, a leader in electronic transaction management solutions. CSi’s IntelleDoc™ Solutions leverage a single, data-driven system to dynamically assemble compliant documentation for all financial institution lines of business. eOriginal SmartSign® Web is an electronic signature solution that offers flexibility, compliance and control within an advanced software platform. With embedded transaction risk management, both systems give institutions unparalleled protection from financial transaction risk.
The integration of these two intelligent technologies will dramatically reduce a financial institution’s compliance risk as the systems automatically place signatures in the proper locations and specify the correct signers based on the transaction data. Mitigating the risks of human error in that process cuts costs and reduces the potential for errors. From end-to-end, the transaction is driven by relevant data quickly and efficiently without the need for human intervention.
“Finding a like-minded partner with the same transaction level focus provides our customers with more ways to reduce risk and enhance security throughout the transaction,” said Reid Smeda, CSi President.
The seamless integration of the two software systems equips institutions with the ability to reduce costs and speed transaction processing while simultaneously mitigating compliance risks through the electronic management of the whole transaction starting with origination data all the way through the signature and vaulting process. In addition, a representation of the data and software used to produce the transaction documentation will be preserved along with each document. This provides a key enhancement to the process with a precise audit trail preserved with the final transaction documents, providing even greater transaction transparency.
Joint business partner, FIS Global, is one of the first partners to adopt the combined solution for its financial institution customers. “With CSi and eOriginal, we have partners that are truly looking out for our customer’s best interest. The CSi IntelleDoc Solutions coupled with eOriginal’s SmartSign and Trusted Repository is a powerful solution that not only mitigates risk but also reduces overhead by eliminating inefficiencies in the document production and signing process,” says Ronny Chapman, FIS Global. “Because it’s a fully electronic process, this reduces the level of risk associated with potential mistakes.”
Bryan Caporlette, CTO of eOriginal, said, “We are thrilled to partner with CSi to bring this integrated solution to our joint customers in the financial services industry. The combination of these two market-leading technologies will provide unmatched protection from financial transaction risk, while delivering the speed and efficiencies of a fully electronic solution.”
About Compliance Systems, Inc.
Compliance Systems, Inc., (CSi) is a highly-respected provider of financial transaction-level risk management technology and expertise specializing in compliantly documenting financial transactions while mitigating the risk surrounding those transactions. CSi’s remarkable solutions are sought after for helping institutions meet demanding transaction needs for Deposit Accounts, Consumer (including Home Equity) Lending, Commercial Lending, Mortgage Lending, Individual Retirement Accounts, and Health Savings Accounts lines of business. As a trusted partner we document transactions compliantly, minimize the applicable enterprise-wide risks, and reduce resource expenditures so that institutions can focus on their business and bottom line. For more information visit www.compliancesystems.com
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 since 1996. To learn how eOriginal can streamline your business processes, visit www.eoriginal.com.