Silanis Wins Mercuriades Technical Innovation Award for ApproveIt Web Server.
MONTREAL--(BUSINESS WIRE)--May 27, 2002
Silanis Technology Inc., the leading developer of electronic signature solutions, walked away first-place winner in the Technical Innovation Research and Development, PME category during Thursday night's Les Mercuriades 2002 dinner gala. The award was granted based on the company's development and launch of ApproveIt(R) Web Server, the industry's first consumer-based e-signing solution that enables high-value legal transactions, such as mortgage and car loans, to be quickly and securely signed by consumers over the Web using no additional software other than a Web browser.
Only four months after its launch, the solution has already begun to trigger the much-awaited growth of B2C e-signing applications. Quicken Loans, a top five online mortgage provider, is integrating ApproveIt Web Server into its online services to eliminate the shipping delays and reduce the fall-out that occurs while applicants wait for loan documents to arrive at their home for signing. Over 13,000 car dealers across the U.S. are being supplied with the solution as part of Dealer Track's aggregator services to provide 24-hour turnaround on dealer funding. Silanis is also working closely with other top financial institutions in the U.S.
Although electronic signatures were passed into law almost two years ago by former President Bill Clinton, organizations have not - until now - adopted e-signatures for consumer applications because they lacked the ease-of-use needed for mass market adoption. ApproveIt Web Server's innovative new "Electronic Process Signature(TM)" technology is the first solution to balance consumer ease-of-use with the level of security and IT compatibility required by organizations, thus creating a new industry standard.
Silanis Technology Inc. is a leading developer and provider of electronic signature and approval management software to over 900 organizations within the financial, government, manufacturing, aerospace, pharmaceutical and healthcare sectors. Hundreds of thousands of people are signing their documents electronically using Silanis' solutions, including the entire U.S. Joint Chiefs of Staff, 40,000 U.S. Army Medical Command (MEDCOM) personnel, and General Motors Acceptance Corporation Commercial Mortgage Division (GMACCM). A privately held company, Silanis was founded in 1992.