Silanis Revolutionizes Straight-Through Processing for Financial Services with ApproveIt Web Server 3.0

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Silanis Technology the leader in electronic signature solutions, announced today the release of ApproveIt Web Server 3.0, a powerful new e-Signature Process Management solution designed to meet the rising complexity of today's financial services business environment. ApproveIt Web Server 3.0 provides much more than basic e-signing - it manages the entire execution process, facilitating adoption of straight-through processing for financial services transactions while supporting the industry's extensive compliance requirements.

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The common drivers among these industries include not only the desire to automate the signature

Silanis Technology the leader in electronic signature solutions, announced today the release of ApproveIt® Web Server 3.0, a powerful new e-Signature Process Management solution designed to meet the rising complexity of today's financial services business environment. ApproveIt Web Server 3.0 provides much more than basic e-signing - it manages the entire execution process, facilitating adoption of straight-through processing for financial services transactions while supporting the industry's extensive compliance requirements.

Financial services organizations have long depended on signed paper documents and forms to execute contracts and transactions with partners and customers but today face rising costs, legal exposure and compliance risk, and loss of business and revenue due to inefficient processes.

Electronic signatures have the potential to address these problems, but migrating paper-based processes to Web-based e-transactions is no simple task. Financial service business environments are more complex than ever with constantly changing products and services, as well as increasing legal and regulatory requirements. Dated IT infrastructures and applications designed for the paper world are straining to keep up with this changing environment and further compound these problems, driving the need for more mature solutions that go beyond simple e-signature capture.

E-Signature Process Management has emerged as a new class of electronic signature solutions to address these challenges, allowing financial services organizations to reduce costs, improve operational efficiency and increase straight through processing capabilities.

ApproveIt Web Server 3.0, is an enterprise e-Signature Process Management solution capable of transforming a manual, paper-based process to a fully electronic, Web-based e-transaction. ApproveIt Web Server defines, executes, and manages electronic signature transactions, while capturing the intent of the signers and generating secure records and evidence of the execution process. This approach is designed to provide the required flexibility, scalability and evidence resulting in broader adoption, easier implementation, and lower risk.

"One of the biggest challenges for organizations trying to move business processes online is contending with legacy core systems designed for the paper world," said Dr. Robert Al-Jaar, Chief Technology and Executive Vice President of Product Management. "ApproveIt Web Server manages the interaction with other business applications throughout the transaction as well as session management, notifications, and process exceptions needed for customers accessing documents online. We take care of everything from the point a document package is handed off for execution, right through to completion."

Industry analyst firm Gartner has acknowledged the industry's growing need for more comprehensive approaches to electronic signatures. In a February 2008 report entitled, 'E-Signature Suites and Services Have Matured,' Gartner analysts Gregg Kreizman and Kristin Noakes-Fry note that "Client interest has grown during the past year, particularly among financial services clients for comprehensive e-signature offerings." With insurance and banking as the primary market segments leading this demand , Gartner warns "The common drivers among these industries include not only the desire to automate the signature "last mile" of business processes, but also to ensure that good processes are followed and that records and the events associated with signing these records are well-preserved using sound controls."

Silanis ApproveIt Web Server 3.0 Core Capabilities:
Silanis ApproveIt Web Server 3.0 is an advanced e-Signature Process Management solution that ensures a business transaction is executed correctly and is reinforced by reliable electronic evidence. ApproveIt Web Server provides three layers of functionality that are the foundation for e-Signature Process Management:

  • The execution layer provides flexible options for presenting, signing and distributing documents and establishing user authentication.
  • The orchestration layer makes it possible to define and control how each transaction is executed and manage the many variations that occur from one transaction to another.
  • The evidence layer collects and stores extensive electronic evidence and audit trails that can be used to prove the exact screens viewed and actions taken by the parties in the execution process.

ApproveIt Web Server 3.0 offers a Web services interface to facilitate integration with business applications and services that need to exchange data and documents with the solution to complete the execution process. This includes applications and services that generate the document packages; web applications and portals; content management; underwriting and fulfillment; and third party identity verification. ApproveIt Web Server also provides seamless integration with Web and business applications and services to enable straight-through processing in business transactions.

ApproveIt Web Server 3.0 and e-Signature Process Management offer financial services organizations the following benefits:

  • Flexibility - Financial services companies can easily configure an intuitive, user-friendly, web-based e-sign and transaction process that is widely embraced by employees, representatives and customers
  • Scalability - Broadly leverage e-signing across multiple businesses, products, jurisdictions and channels with a single common solution;
  • Control - End-to-end control over transactions along with the ability to gather comprehensive evidence to lower risk;
  • Integration - The Web services interface makes it easy to integrate with a Services-Oriented Architecture, legacy core applications and e-commerce infrastructure while enabling true, end-to-end straight-through processing.

About Silanis:
Silanis Technology is the leading provider of e-signature process management solutions. The world's largest insurance and financial services companies, major government agencies, integrators and service providers depend on Silanis to accelerate business transactions and reduce costs while improving compliance with legal and regulatory requirements. The company's electronic signature platform, ApproveIt®, is an enterprise-class e-signature process management solution that transforms paper-based business transactions to all-electronic, web-based processes for e-commerce and e-government. Visit us on the web at http://www.silanis.com

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Mary Ellen Power
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