Emerging giant, undiscovered GEM?
CIC Named to Independent Research Firm's 'Hot Banking Tech Companies to Watch in 2009' Report
REDWOOD SHORES, Calif., Dec 29, 2008 /PRNewswire-FirstCall via COMTEX/ -- Communication Intelligence Corporation ("CIC") (OTC Bulletin Board: CICI), a leading supplier of electronic signature solutions for business process automation in the financial industry and the recognized leader in biometric signature verification, announced today it has been named to Forrester Research's "Hot Banking Tech Companies To Watch In 2009" Report dated December 2008.
The Forrester report states in part:
"Communications Intelligence Corporation, or "CIC" (www.cic.com), provides legally binding and compliant electronic signature solutions targeted at the contract execution needs of banks, insurers, and public sector markets... CIC has struck a partnership with CSC that, while complementing a number of CSC's core banking application offerings, is being delivered as one of the tools that CSC is providing to facilitate mortgage loan modifications and workouts and improve loss mitigation process efficiency... CIC's SaaS-based electronic signature solutions help speed up a very lengthy and painful process that can often take as long as 90 days, reducing the time to less than three days to say nothing of borrower stress levels.
Why it's important. At the end of the third quarter of 2008, the seasonally adjusted total delinquency rate was the highest recorded by the Mortgage Bankers Association... As the economy further deteriorates, the number of foreclosures will increase, along with the call for more regulation to move more borrowers through the process faster and more fairly... There have been few technology vendors that have targeted the mortgage workout market, despite the obvious need and the far-reaching economic consequences if the industry maintains its 'business as usual' approach. Partnerships such as the one struck by CIC and CSC bring technology that addresses a complex and very real economic and social problem."
CIC's Chairman & CEO, Guido DiGregorio stated: "We are pleased to be recognized for our contribution to automating the mortgage workout process. Partnering with CSC to integrate our technologies to deliver a SaaS-based electronic signature solution reduces a very lengthy and painful process involving many parties, that can often take several months, to less than three days alleviating borrower stress along with significant expense reductions. This product offering reflects the timeliness and benefits of our technology coupled with our ability to effectively and efficiently integrate our technology with selected partner offerings to significantly enhance the value of the end solution."
For the full Report including an overview of the financial market factors driving the need for CIC's solutions, click on link below:
Forrester Report
About CIC
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