BALTIMORE — eOriginal Inc., a provider in electronic signatures, eVaulting and electronic transactions, announced that a leading U.S. automotive finance company selected eOriginal SmartSign Web to enable the creation and completion of electronic dealer finance transactions.
The adoption of electronic signatures among finance company’s 12,000 plus dealers will significantly reduce the funding cycle, eliminate incomplete loan documentation and decrease associated transaction processing costs. The solution will also allow for consistent implementation, support and the adoption of standardized processes in the dealer network.
The conversion to electronic signatures will transition the dealer finance company from paper based processes and the substantial costs related to paper reproduction, storage and manual processing to an end-to-end efficient electronic process. This transition will improve customer service, lower costs and improve the “re-write” rate. Dealers are constantly re-writing deals because of lost documents and omitted signatures. With eOriginal’s SmartSign Web electronic signature and vaulting solution, documents are never lost and signatures can never be missed or omitted.
eOriginal will allow the dealer finance company to centralize and electronically manage documentation, and use its secure and legally compliant electronic vault. eOriginal ensures that each signed document is authenticated and protected using digital signatures to create tamper-evident seals around all documents placed under the control of the electronic vault. Important documents may be maintained in an authenticated electronic format for their full legal life.