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eLynx Announces Enhanced Version of uSign 4.0
January 25, 2007
Industry-leading e-Signature Solution Dramatically Increases Online Completion Rates and User Acceptance
CINCINNATI – eLynx, a portfolio company of American Capital Strategies Ltd. (NASDAQ: ACAS), and provider of the largest secure electronic document communications network for the financial services industry, announced today the newest release of its uSign™ electronic signature technology. The result of compiling and researching extensive user feedback, uSign 4.0 brings substantial usability enhancements to the industry’s leading e-signature solution.
uSign helps the nation’s largest lenders, insurance carriers and other financial institutions enable customers to securely review and approve sensitive documents via the Internet. Its electronic signature technology eliminates reliance on paper, while reducing costs by as much as 75 percent. eLynx clients already use uSign in innovative ways – for the signing of documents, by capturing information into forms and cross-selling products. Version 4.0 builds upon uSign’s current success with a heightened focus on user experience and usability.
To identify potential areas for enhancement, eLynx worked closely and collaboratively with its clients and partners over the course of several months to identify how uSign could be further improved to make a positive impact on their businesses. This process identified several areas where the user experience of the signing service could be enhanced – for consumer end-users as well as those within the organization – with more logical and descriptive design. These usability enhancements along with enhanced security help to streamline information, bring more tools “top level” and help educate users to promote more conversions.
Ease-of-use is dramatically improved, resulting in a significantly increased user completion rate. “Not very long ago,” explained eLynx CEO Phil Huff, “a completion rate of more than 30 percent for electronic document signings was considered a great success. Now eLynx clients are enjoying completion rates as high as 60 percent. With an even greater emphasis on user experience, we’re expecting those rates to rise even higher. What we’ve learned about real-world eSignature implementations will serve the industry well in our eMortgage implementations.”
Beyond enhanced usability, uSign 4.0 boasts new capabilities for consumer end-users to review and adjust any errors in a signed document before submission and also addresses some of the obstacles to wider acceptance of electronic signature technology. In the past, the entire industry suffered from a common but inaccurate perception that e-signatures correlate directly to a completely paperless process. As simple as it sounds, many users were unaware that signed copies can easily be printed and retained for their own records and were therefore hesitant to electronically sign documents. The enhanced uSign 4.0 now clearly highlights the ability to print documents.
eLynx notes even greater enhancements, exciting client announcements, and more wait on the horizon. Notably, the company will soon release a Web-services interface for modern loan origination and policy administration systems, while at the same time continuing its legacy support for print-stream based integration. “eLynx stays true to its mission of continually looking for ways to enhance the consumer and client experience and to consistently improve upon best-in-class electronic methods for doing business,” said Huff. “As always, eLynx remains committed to delivering our clients real, quantifiable business results. The new uSign is just one more step on that same road.”
About eLynx
eLynx, a portfolio company of American Capital Strategies Ltd. (NASDAQ: ACAS), provides the largest secure electronic document communications network for the financial services industry. Serving more than 500 financial institutions, including 17 of the top 20 mortgage lenders in the United States, 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 were used in more than 10 million financial transactions involving consumers, lenders and settlement agents.
eLynx was founded in 1994, and recently acquired SwiftView, Inc, a provider of electronic document viewing software and paperless document communications services. The company is headquartered in Cincinnati with additional operations, support, and research and development staff in Portland, Ore. For more information, please visit www.elynx.com and www.swiftview.com.