Fidelity Information Services and eOriginal to Offer Electronic Contracting Products and Services
|May 24, 2005|
JACKSONVILLE, Fla., /PRNewswire-FirstCall/ -- Fidelity National Financial, Inc. (NYSE: FNF), a provider of products and outsourced services and solutions to financial institutions and the real estate industry, and its Fidelity Information Services ("Fidelity") division announce a strategic alliance and licensing agreement with eOriginal, Inc., a enterprise software provider that supports the automation of the financing process.
Digitally authenticated electronic document management, specifically electronic contract processing, is gaining interest and delivers a competitive advantage in the automotive finance industry. Fidelity and eOriginal will offer significant value in this arena by bringing together eOriginal's industry-leading Vault-in-a-Box(TM) (VIB) eContracting management software and Fidelity's Advanced Lending Solutions - Automotive Finance offering, which includes support from Fidelity's Advanced Technology Services (ATS) division.
"eOriginal's VIB is a great complement to Fidelity's electronic commerce solutions, and when combined with Fidelity's hosting and suite of technology services capabilities, it is easy to see the strength, value and synergy of this partnership," said Frank Sanchez, president, leveraged product development for Fidelity Information Services. "Banks and financial institutions will gain economies of scale as eContracting volumes increase dramatically over the next few years."
Fidelity's Automotive Finance division offers a full spectrum of highly parameterized software solutions for the global automotive finance industry. The suite includes application and risk-based decisioning, integrated loan and lease portfolio management, collections and default solutions. Eleven of the top-twenty U.S. automotive finance companies run on Fidelity systems and over 20 million loans and leases are processed on Fidelity software.
eOriginal offers end-to-end integrated solutions for creating and managing multi-party, multi-document electronic contracts, transferable assets, securities and critical source records. eOriginal's software enables enterprises to digitally sign, manage, archive, transfer, pool and re-sell secure, on-line business transactions. Through this process, legally enforceable electronic documents completely replace paper as the essential high-value assets or source records. By pioneering the technology and the process of conducting legally enforceable business transactions over the Internet, eOriginal has fulfilled the promise of e-Commerce and revolutionized the business landscape. eOriginal's Vault-in-a Box is the standard for transferring and vaulting electronic documents.
Source: Fidelity National Financial, Inc.