Resources

E-Signature Success Stories in Lending

Free Educational Webcast

Recorded On: Wednesday, November17 2010
Length: 60 Minutes
Presenter: Michael Laurie , VP of Strategic Development & Co-Founder, Silanis

Overview

As electronic signature adoption grows among consumer lenders, so does the opportunity to benefit from the experience, strategies and lessons learned by earlier adopters. This Webcast will feature 5 real world examples of organizations using e-signatures in lending processes to improve service, reduce cost, and mitigate operational risk. The presentation will highlight project drivers, solution requirements, scope, and results.

Join Michael Laurie, VP and Co-Founder, Silanis Technology, to learn about the following success stories:

Online Retail credit – A UK mail order giant has adopted e-Signatures for online credit applications to reduce the high rate of incomplete or unreturned paperwork. The ability to gather secure electronic evidence of the signing process was crucial for this lender, as was the ability to customize the look and feel of the interface to match its multiple online storefronts.
In-Branch Consumer Loans - A top 10 US bank is moving to paperless loan transactions across more than 3,000 retail branches and expects to reduce loan exceptions by 90% and operational risk by 50%. The web-based e-signature solution needed to be tightly integrated with the bank’s existing content management, customer identification and banker’s applications for a seamless, straight-through process.
Point-of-Sale Auto Financing – A leading auto finance company is deploying e-signature capability to its dealers throughout the US for retail installment contracts and end-of-lease agreements. This will reduce the amount of time customers need to spend in the F&I managers office, completing paperwork, and get them behind the wheel faster. This company needed the ability to meet UCC requirements for securitizing and selling electronic chattel paper.
Online Mortgage Origination – A leading online mortgage lender in the US has achieved 90% adoption of electronic signatures on origination paperwork and has seen a 10-15% higher closing rate on applications that are e-signed. E-Mortgage applications are returned same day. The implemented solution included a zero-download, click-to-sign process.
Online Student Lending - Students applying for financial aid through this top five U.S. Student Loan Guarantor no longer need to wait for paperwork to arrive in the mail to complete the application process. And the organization has improved visibility and control over the loans process, resulting in fewer errors and increased productivity.