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eLynx Integrates expedite™ e-Business Suite with NAVA STP Initiative — Provides On-Demand NAVA/ACORD Compliant eSignature and Document Services
December 03, 2007
CINCINNATI – December 3, 2007 – eLynx, a portfolio company of S&P 500 member American Capital Strategies Ltd. (NASDAQ: ACAS), and provider of the most pervasive and widely used secure electronic document communications network for the financial services industry, announced today the seamless integration of eLynx’s expediteTM suite of on-demand e-business services with the NAVA Straight-through Processing (STP) initiative for the life and annuities insurance industry. expedite integrates electronic delivery and fax service, electronic collaboration folders and the uSign™ electronic signature service within a single platform.
With some 76 million baby-boomers moving into retirement, the life and annuities industry is poised to grow at an exponential rate. Transforming labor-intensive paper processes into electronic ones is imperative to successfully serving this rapidly expanding market. eLynx’s expedite electronic processing services adhere to NAVA STP standards for regulatory compliant, eSignature-capable electronic delivery of new business submissions for annuities and its uniform interpretations of all state and federal regulations. By incorporating eLynx electronic services into NAVA STP, distributors, financial advisors, and insurers avoid the need for expensive and time-consuming point-to-point technology implementations, while still gaining the benefit of ACORD XML compliant annuities transactions.
uSign is fully integrated into the end-to-end annuities sale and issuance cycle, including capture and delivery of eSigned documents and other attachments that will be transmitted through the forthcoming DTCC (Depository Trust and Clearing Corporation) Attachments service utilizing ACORD XML messaging standards. Defined by NAVA as a critical path component of its STP roadmap for new business, DTCC’s Attachments service will provide a centralized industry pipeline for attachments messaging, and will ensure compliance to the ACORD messaging standard. eLynx operates as the front end provider of the technology to capture and compile the documents into the appropriate message formats and facilitate electronic interaction by the signing and receiving parties. The result is a more efficient, standard, cost-effective process for all participants – one which takes hours rather than days to complete. On top of speeding processes and increasing overall efficiency, eLynx-enabled transactions also carry a higher degree of security and assured regulatory adherence than traditional paper-based methods. eLynx’s electronic processing services fit well into the NAVA STP initiative, helping to achieve the critical-path goal of communicating electronically signed documents and other attachments. The expedite services utilize fully-compliant ACORD XML messages that can be easily linked to new business applications as well as other insurance transactions.
“We’re excited to work with NAVA and to support the DTCC Attachments development efforts,” adds Robert Nilsson, eLynx vice president of marketing and market development. “eLynx’s expedite suite of electronic processing services brings NAVA STP, DTCC and ACORD XML standards and protocols to the entire life and annuities sales and issuance value chain. In such a highly-regulated market, the security and robust reporting of uSign take on even more value, while increasing efficiencies and cutting costs. Even more importantly, uSign can help all those involved in the life and annuities industry to better meet consumer expectations for greater service in all forms of distribution.“
About eLynx
eLynx, a portfolio company of S&P 500 member American Capital Strategies Ltd. (NASDAQ: ACAS), provides the most widely used network for electronic document communications services for the financial services industry. Enterprises use eLynx to capture and maintain data electronically throughout the document life cycle, automating paper-intensive processes, improving workflow, reducing costs and ensuring compliance with industry regulations. eLynx serves more than 600 financial institutions including 17 of the top 20 mortgage lenders and more than 100 insurance carriers in the United States. eLynx enables more than 65 percent of the nation’s mortgage closings. In addition, more than 4,000 enterprises worldwide with more than 4 million users in a broad spectrum of industries use eLynx's print management solutions. The company, founded in 1994, operates nationally with headquarters in Cincinnati, Ohio and offices in Portland, Oregon along with data centers throughout the United States. For more information visit www.elynx.com.
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CONTACT:
Robert Nilsson
Vice President of Marketing and Market Development
eLynx
rnilsson@elynx.com
Beverly Bartley
Martopia
Vice President of Communications
Media contact for eLynx
bbartley@martopia.com