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eLynx Implements Single-Sign-On for Industry Leading Lender
November 02, 2006
Streamlines Access While Heightening Security and Convenience
eLynx Ltd., a portfolio company of American Capital Strategies Ltd. (NASDAQ: ACAS) and a leading provider of secure Web services for lenders and insurance companies, today announced it has implemented Single Sign-On (SSO) technology for one of its largest lender clients. Built to comply with the industry standard Security Assertions Markup Language (SAML), the new SSO technology provides individual users with one master login for access to multiple enterprise applications and all services across the eLynx network platform.
The system works by drawing on a user’s login information to the enterprise network, and then embeds links to eLynx and other approved access sites within the environment. The technology gives lenders complete control over administering user accounts and roles, and at the same time alleviates the burden of managing multiple logins for individual users. In turn these individual users no longer have to remember multiple usernames and passwords, and there is no need for password resets. If a user has never accessed the eLynx system before, the account is automatically created.
The increased convenience is part of an even broader benefit – enhanced security. The programming of eLynx’s SSO creates additional security measures that are invisible to the user and provide significant additional protection. Michael Pelfrey, vice president of sales for eLynx, elaborates, “Normally, security and convenience are two opposing forces that must be balanced. Our SSO alleviates this burden from our clients, delivering non-compromising improvements to both ease-of-use and protection. eLynx has already implemented SSO across the enterprise for one of the largest lenders in the nation, and our other lender clients are lined up to follow suit.”
eLynx provides its eBusiness and paperless processing services to 17 of the top 20 lenders in the U.S., as well as hundreds of clients in the insurance industry. Robert Nilsson, vice president of business development, noted that the SSO option will be standard for any new clients enlisting eLynx services. “Our single sign-on is available to any lenders in compliance with SAML, and we anticipate this will quickly become the benchmark in paperless processing. As the market leader, eLynx has built a reputation for continually delivering service enhancements for our clients.”
About eLynx
Founded in 1994, eLynx is a leading provider of secure Web-services for over 500 financial institutions, including 17 of the top 20 in the U.S. The company’s solutions enable businesses to capture and maintain data electronically throughout the document lifecycle, automating paper-intensive processes, improving workflow, reducing costs and ensuring compliance with evolving industry regulations. In 2006, eLynx services will be used in over 10 million financial transactions involving consumers, lenders and settlement agents. eLynx, a portfolio company of American Capital Strategies Ltd. (NASDAQ: ACAS), is headquartered in Cincinnati with additional operations, support and R&D staff in Portland, Ore.