Welcome!

News Feed Item

E-Signature Provider Silanis Expands Market Leadership in Banking and Lending With Top-20 Wins

Eight of the Top 20 North American Banks, Including Santander Consumer Bank, U.S. Bank and RBC Royal Bank, Use e-SignLive(TM) to Transform Customer Experience

MONTREAL, QC--(Marketwired - June 02, 2014) - Silanis, provider of the leading electronic signature solution e-SignLive™, today announced several new and expanded customer wins, including Santander Consumer Bank USA Inc., U.S. Bank and RBC Royal Bank, making e-SignLive the e-signature standard among eight of the top 20 banks in North America.

With over 50 percent of its customers in banking and lending, e-SignLive has the largest share of the e-signature market in these industries and is considered the leading e-signature and e-vaulting solution for financial services. Silanis was also recently named the preferred e-signature provider for the Credit Union National Association (CUNA), serving over 6,700 credit unions in the United States.

For today's constantly connected digital customer, the convenience of anywhere, anytime banking is vital. According to research released in March 2014 from AlixPartners, 60 percent of smartphone/tablet users reported mobile banking capabilities as "important" or "extremely important" in the decision to switch from one bank to another. A key enabler of mobile transactions, e-signatures give mobile users the freedom to transact on their device -- while also enabling a better banking experience where they can open an account or complete a loan application without ever visiting the branch.

"In response to competitive pressure and customer expectations, retail and commercial institutions of every size are embracing e-signatures and digital processes to offer customers and members a convenient, fast and more efficient way of doing business," said Tommy Petrogiannis, Silanis CEO and co-founder. "In the last 24 months, e-transactions -- which are only possible because of e-signatures -- have become the preferred choice among banks and lenders. Our customers are seeing record adoption across new account openings, loans and mortgage applications, as well as a reduction in risks and costs."

Silanis' growth among banks and credit unions is evidenced by the success of its customers, including:

  • Industry's Most Proven ROI: e-SignLive is used to process over 600 million documents annually. Silanis' customers have: 
    • Avoided $16 million in administrative costs annually across one bank;
    • Eliminated courier costs across 9,000+ branches with the largest secure delivery of e-disclosures in banking;
    • Removed paper from 10 million new account openings annually across 3,000+ branches, with 90 percent of customers choosing e-signatures over paper;
    • Saved 80,000+ administrative hours (equivalent to 40 full-time employees);
    • Eliminated 90 percent of errors in lending and other banking documents;
    • Expanded market reach from 28 to 48 states without opening new branches;
    • Increased revenue 100 percent after adopting an electronic process for mortgage origination.
  • Highest Adoption Rates: Because e-SignLive provides the best customer experience in any channel, financial institutions are seeing record adoption rates after implementing it, including:
    • Over 92% adoption in account openings and certificates of deposit (branch);
    • Over 90% in consumer lending and small business (branch);
    • Over 99% in mortgage applications and disclosures (online or F2F);
    • Over 70% in auto financing (F2F);
    • Over 99% in student lending (online).

Improving customer experience is just one of the benefits of e-signatures and e-transactions. Banks and credit unions are also looking to strengthen compliance. With e-SignLive, each step of the e-sign workflow is controlled, ensuring documents are presented and signed in the right order, and there are no missing signatures or data. Digital processes also provide better visibility into transactions and reduce risk by removing manual, error-prone intervention. Both the financial institution and the customer can be assured of a compliant e-transaction, backed by comprehensive electronic evidence.

Silanis also offers banks and credit unions a single e-signature platform for on-premises and SaaS deployment. For institutions looking to maximize their e-signature investment, choosing a platform that supports multiple deployments -- combined with the ability to create a mortgage e-note or e-chattel paper -- makes it easy to implement e-signatures in consistent way across many lines of business.

Committed to promoting the adoption of electronic signatures in banking and lending, Silanis actively participates in a number of industry associations, including the Electronic Signatures & Records Association (ESRA), Standards & Procedures for Electronic Records & Signatures (SPeRS), Mortgage Industry Standards Maintenance Organization (MISMO), American Financial Services Association (AFSA) and Mortgage Electronic Registration System (MERS).

In 2013, Silanis was awarded the IBM Beacon Award for Best Industry Solution for Banking.

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.comTwitterLinkedInFacebook and Google+.

For more information:
Sarah Milner
Silanis Technology
250-216-1762
[email protected]

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
"Venafi has a platform that allows you to manage, centralize and automate the complete life cycle of keys and certificates within the organization," explained Gina Osmond, Sr. Field Marketing Manager at Venafi, in this SYS-CON.tv interview at DevOps at 19th Cloud Expo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
Michael Maximilien, better known as max or Dr. Max, is a computer scientist with IBM. At IBM Research Triangle Park, he was a principal engineer for the worldwide industry point-of-sale standard: JavaPOS. At IBM Research, some highlights include pioneering research on semantic Web services, mashups, and cloud computing, and platform-as-a-service. He joined the IBM Cloud Labs in 2014 and works closely with Pivotal Inc., to help make the Cloud Found the best PaaS.
Creating replica copies to tolerate a certain number of failures is easy, but very expensive at cloud-scale. Conventional RAID has lower overhead, but it is limited in the number of failures it can tolerate. And the management is like herding cats (overseeing capacity, rebuilds, migrations, and degraded performance). In his general session at 18th Cloud Expo, Scott Cleland, Senior Director of Product Marketing for the HGST Cloud Infrastructure Business Unit, discussed how a new approach is neces...
"This week we're really focusing on scalability, asset preservation and how do you back up to the cloud and in the cloud with object storage, which is really a new way of attacking dealing with your file, your blocked data, where you put it and how you access it," stated Jeff Greenwald, Senior Director of Market Development at HGST, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
Cloud-enabled transformation has evolved from cost saving measure to business innovation strategy -- one that combines the cloud with cognitive capabilities to drive market disruption. Learn how you can achieve the insight and agility you need to gain a competitive advantage. Industry-acclaimed CTO and cloud expert, Shankar Kalyana presents. Only the most exceptional IBMers are appointed with the rare distinction of IBM Fellow, the highest technical honor in the company. Shankar has also receive...
"Evatronix provides design services to companies that need to integrate the IoT technology in their products but they don't necessarily have the expertise, knowledge and design team to do so," explained Adam Morawiec, VP of Business Development at Evatronix, in this SYS-CON.tv interview at @ThingsExpo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
Business professionals no longer wonder if they'll migrate to the cloud; it's now a matter of when. The cloud environment has proved to be a major force in transitioning to an agile business model that enables quick decisions and fast implementation that solidify customer relationships. And when the cloud is combined with the power of cognitive computing, it drives innovation and transformation that achieves astounding competitive advantage.
"We work around really protecting the confidentiality of information, and by doing so we've developed implementations of encryption through a patented process that is known as superencipherment," explained Richard Blech, CEO of Secure Channels Inc., in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
"I focus on what we are calling CAST Highlight, which is our SaaS application portfolio analysis tool. It is an extremely lightweight tool that can integrate with pretty much any build process right now," explained Andrew Siegmund, Application Migration Specialist for CAST, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
The Founder of NostaLab and a member of the Google Health Advisory Board, John is a unique combination of strategic thinker, marketer and entrepreneur. His career was built on the "science of advertising" combining strategy, creativity and marketing for industry-leading results. Combined with his ability to communicate complicated scientific concepts in a way that consumers and scientists alike can appreciate, John is a sought-after speaker for conferences on the forefront of healthcare science,...
"Software-defined storage is a big problem in this industry because so many people have different definitions as they see fit to use it," stated Peter McCallum, VP of Datacenter Solutions at FalconStor Software, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
"Our strategy is to focus on the hyperscale providers - AWS, Azure, and Google. Over the last year we saw that a lot of developers need to learn how to do their job in the cloud and we see this DevOps movement that we are catering to with our content," stated Alessandro Fasan, Head of Global Sales at Cloud Academy, in this SYS-CON.tv interview at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
Data is the fuel that drives the machine learning algorithmic engines and ultimately provides the business value. In his session at Cloud Expo, Ed Featherston, a director and senior enterprise architect at Collaborative Consulting, discussed the key considerations around quality, volume, timeliness, and pedigree that must be dealt with in order to properly fuel that engine.
"We're focused on how to get some of the attributes that you would expect from an Amazon, Azure, Google, and doing that on-prem. We believe today that you can actually get those types of things done with certain architectures available in the market today," explained Steve Conner, VP of Sales at Cloudistics, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
As organizations shift towards IT-as-a-service models, the need for managing and protecting data residing across physical, virtual, and now cloud environments grows with it. Commvault can ensure protection, access and E-Discovery of your data – whether in a private cloud, a Service Provider delivered public cloud, or a hybrid cloud environment – across the heterogeneous enterprise. In his general session at 18th Cloud Expo, Randy De Meno, Chief Technologist - Windows Products and Microsoft Part...