BALTIMORE (2/28/13)--eOriginal Inc., a provider of electronic signatures, vaulted repository and electronic transaction management solutions, and Teledata Communications Inc. (TCI), which offers semi-customizable, cloud-based indirect-lending software for small and mid-size lenders, have partnered to deliver electronic signatures and electronic transaction-management capabilities to credit unions, finance companies and banks.
TCI provides a Web-based loan-origination solution, Decisionlender, used by more than 350 lenders in automating the underwriting process to finance automotive, home improvement, furniture, health care and more for consumers needing financing at the point of purchase.
According to the two companies, lenders using the joint solution:
- Gain a competitive industry advantage--by improving image and reputation with an automated electronic-transaction process;
- Improve member/customer experience--by using a secure, fast and simplified tool to apply electronic signatures, store and manage contracts throughout their lifespan;
- Manage risk--with eOriginal's copy management within a user's electronic vault providing a secure way to manage electronically signed documents throughout their lifecycle; and
- Reduce cost and time--eliminating costly printing and overnight delivery costs associated with paper loan packages and receiving a correctly completed loan package;
TCI allows eOriginal to access the indirect lending channel that TCI developed and to enable the electronic transaction platform to provide a secure environment for TCI lenders to manage all documents executed.