Consumers Will Not Embrace e-Signature Technology in the Near Future; Meridien Research Reviews Status of Electronic Signatures.

Business/Technology Editors

NEWTON, Mass.--(BUSINESS WIRE)--Jan. 8, 2001

Meridien Research, a leading financial industry technology analyst firm, released today a brief describing the strategic issues facing financial services institutions with the enactment of the Electronic Signatures in National and Global Commerce Act.

According to Meridien, external customer electronic signature use will begin no earlier than 2002, and widespread customer use of digital signatures in financial transactions appears to be several years away. They suggest that inconsistent implementation across solutions, differing processes across financial institutions and transaction types, will likely keep consumers from using e-signatures in financial transactions in the near term.

"The immediate impact of e-signature technology will occur in business-to-business or internal applications where employees, departments, and partners use digital signatures and certificates in a closed, limited-user environment," said Tom Richards, Research Director at Meridien. "Implementations in less complex transaction processes and environments where economies of scale can be realized will be first. It will be a while before consumers may see a benefit in closing a loan at an ATM or at their PC."

Meridien's brief, entitled "The Case of the Invisible Ink: E-Signatures", illustrates the impacts of e-signature legislation, describes the value of an e-signature solution implementation, lists examples of vendor solutions available in the marketplace, and identifies which financial services institutions may benefit most from integrating an e-signature solution into their customer relationship management strategy.

About Meridien Research

Meridien Research of Newton, MA, provides insight, advice and focus to users and providers of financial industry technology. Using a combination of interactive services and in-depth, written reports, the firm helps its customers achieve a clear competitive advantage in the marketplace. Meridien Research targets three technology areas of strategic importance to financial services firms: eFinancial Services, Trading & Risk Management and Customer Relationship Management. Each practice provides constant monitoring of industry happenings along, detailing future predicted issues and challenges. Visit www.meridien-research.com/press to register for announcements as new research becomes available. For media relations, contact Parallax LLC at 1.781.235.7025 or [e-mail].