Silanis releases SMS Txt and Voice Authentication - Insurance and Financial Services Solution

Silanis Technology,Montreal,QC announced SMS text authentication and voice authentication features for its ApproveIt Web Server e-signature process management solution. Silanis is the leading provider of Electronic Signature Process Management solutions for the insurance and financial services companies. They sell to major government agencies, integrators and service providers to increase business transactions, reduce costs and to improve compliance with legal and regulatory requirements.

The company’s electronic signature platform, ApproveIt®, is an enterprise-class e-signature process management solution that transforms paper-based business transactions to all-electronic, Web-based processes for e-commerce and e-government.

Silanis Technology's ApproveIt Web Server e-signature process management solution now supports SMS text authentication and voice authentication features. This functionality provides an extra layer of security for in-person, click-to-sign processes also eliminating hardware requirements.

What problem is solved?
In the past when a customer was working with an agent or representative the customer had to share the agent/reps laptop or desktop computer. This is not a very secure practice and it raised the question of who actually e-signed te documents.

How the new Agent/Representative process works
SMS text authentication - The agent/rep enters the customer’s mobile number prior to e-signing. A unique PIN is then automatically generated by the application then sent to the customer’s cell phone as a text message. The agent hands over their computer to the customer who then must enter the unique, one-time password in order to continue the e-signing process.

Voice authentication - The voice process displays a Web page that prompts the customer to record a verbal statement that he or she has reviewed all documents and agreed to the contract terms. Once the voice statement is captured, the customer then ’clicks-to-sign’ using their mouse.

Compliance and Regulatory evidence
ApproveIt Web Server captures the authentication processes as part of the Electronic Evidence™. Once the customer is logged on - the web-based service captures the entire application review and signing process. Including all of the Web pages displayed to customers, how long they spend on each page, the areas they clicked on, agreed to, and signed. This provides much stronger evidence than prior paper trails.

Secure digital signing fraud reducton - The signed documents and Electronic Evidence are also secured with digital signature technology to ensure that no changes can be made without visibility invalidating the electronic signatures. The strong Electronic Evidence captured by the solution helps to reduce the risk of fraud or repudiation. This solution would also be very useful in the Real Estate and rental markets!