Montreal, QC, March 18, 2011 – Silanis Technology today announced that its e-Sign Enterprise Platform solution has been selected to provide advanced electronic signature process management capabilities for the IOCS e-contracting platform. As a multi-tenant e-commerce SaaS for the processing of complex agreements, IOCS enables retailers, lenders, and insurers to quickly move to paperless processing of consumer applications, while ensuring compliance with the strictest industry regulations and capturing the strongest legal evidence.
“As a UK-based solution provider, we made it a top priority to deliver our clients a secure and compliant, e-contracting service that meets the strict Consumer Credit Act (CCA) regulations in the UK,” said Abe Smith, CEO of IOCS.
“We chose the e-Sign Enterprise Platform from Silanis after an analysis of 25 leading solutions, because of its unique ability to meet complex business requirements, the strength of the legal evidence captured by the solution, and its proven track-record at top-tier financial services and insurance organizations.”
In the past, companies looking to transition to paperless processing had to build or buy many different solutions or services, from online application to eID, anti-fraud, document generation, e-signatures and storage, and then integrate the components into their core systems. The end-result often proved to be expensive, slow to implement, inflexible, and of questionable legal enforceability.
IOCS, on the other hand, provides clients with a modular, cloud-based SaaS platform that incorporates all of the components needed to facilitate the automated, inter-party execution of enforceable complex agreements.
The Silanis e-Sign Enterprise Platform is responsible for orchestrating the transaction process in compliance with all business, legal and regulatory requirements during the document presentation, review and signing stages of the process, as well as recording the web process from start to finish to provide even stronger legal evidence than is possible using pen and paper.
IOCS works with a number of leading retailers and financial service providers. For example, one global provider of financing solutions operating across multiple product lines uses IOCS to automate B2C financing for their retail partners. Using the service enables them to decrease application processing time from days to minutes, and to eliminate the cost of printing, delivery, error checking, scanning and data entry.
One of the world’s largest consumer electronics retailers is working with IOCS to offer instant electronic financing solutions both in-store and online. Advantages to the retailer include higher take-up rates, higher acceptance rates and higher completion rates.
Founded in 2009 by an experienced team of industry experts, IOCS is the world´s first multi-tenant e-commerce platform for the processing of complex agreements (higher risk, higher value transactions which have traditionally necessitated some form of paper contract: e.g. credit, leasing, insurance). Our initial focus is on point-of-sale finance, insurance and banking, but the service is extensible to a wide range of range of markets, verticals and processes. http://www.iocs-systems.com/index.html
Silanis’ solutions have processed hundreds of millions of e-signatures since the company was founded in 1992 (50 million in 2010 alone), making it the most widely used e-signature solution. The world’s largest insurance and financial services companies, government agencies, and service providers depend on Silanis to accelerate business transactions and reduce costs while improving compliance with legal and regulatory requirements. The company’s on-premise, cloud and SaaS e-signature solutions eliminate manual, paper-based processing to enable e-commerce and e-government transactions to be executed fully electronically from start to finish.