Wave Systems Corp. (fka WAVXQ)

[Countryboy]

Wave and Xerox Going Electronic Together.

Date: Wednesday, December 10 2008
LEE, MA -- Earlier in the year, Wave Systems here and Xerox Mortgage Services partnered to make it easy for lenders to start with electronic disclosures and move gradually toward full electronic mortgages. Now Wave has launched SmartClose to make that transition even more friction-free.
Specifically,

SureClose includes integration with MERS for electronically tracking mortgage ownership, servicing rights and electronic notary functionality for critical documents. SmartClose adds administration, notification, management and reporting tools to the application surrounding MERS transactions.

Users can pre-configure profiles to allow for the automation of transactions and notification responses. In addition, users can set up MERS profiles for themselves or delegates. The system is more than a transaction engine, it is designed to provide key reporting and auditing mechanisms on MERS history via the SmartSAFE or Web services. SmartSAFE is a Web-based e-vaulting and lifecycle management system of signed and unsigned documents.

In discussing why lenders should care about this enhancement, Kelly Purcell, executive vice president of Wave Systems' e-sign division,told NMN, "We have built a scalable MERS integration that allows forboth e-transfer and e-delivery. We can physically transfer a note from one vault to another. That's unique when it comes to the usual MERS integrations done today. This is about forming a complete e-mortgage roadmap. We're ready when the lender is ready."

Now Xerox clients can use this technology to make the step to e-mortgages. In discussing why the partnership with Wave is so significant to lenders, Greg Smith, vice president and general manager at Xerox, said, "You can't have fully developed partnerships with everyone. You have to pick a few partners that you want to hitch your boat to. We want BlitzDocs to include a number of different partners like Wave and others.

"We have always wanted BlitzDocs to offer real value once lenders turn it on, but we also wanted to provide a path to the e-mortgage aswell. What we're doing with Wave is delivering solutions with our partners and not just marketing agreements."

Xerox touts that BlitzDocs is one of the mortgage industry's most widely used solutions for electronic document collaboration helping lenders, brokers and investors manage the process needed to underwrite, audit, collaborate, deliver and archive loan documents electronically. The integration with Wave allows BlitzDocs lenders to take the next step and now go fully electronic and not just paperless.

"You have to pick trusted partners," added Ms. Purcell. "We won't integrate with everyone. Having said that, we will be bringing on several document partners, which will be a positive because Xerox doesn't provide documents. We won't limit this to an e-closing room either,it's an e-signing room where the lender and borrower can do a numberof things securely online."

"We're focused on taking our clients down an evolutionary path. They're familiar with BlitzDocs, we're now moving them to disclosures and from there we'll take them to e-closings," added Mr. Smith. "We'llcontinue to make progress around the e-mortgage in 2009. Xerox will be talking about having lenders doing e-closings on BlitzDocs in 2009for sure."
http://www.allbusiness.com/banking-finance/banking-lending-credit-services-mortgage/12110874-1.html

Would be nice to see the esign systems relationship expanded to some of ACS's lines of business.

ACS Company History

Affiliated Computer Services, Inc. (ACS) was founded by Darwin Deason in 1988. The foundation of ACS was built on Mr. Deason’s assembling a group of talented information technology professionals that shared a dedication to meeting client needs and exceeding client expectations. Initially created as a data services provider to the financial services industry, Mr. Deason led ACS’ steady and successful expansion into the communications, education, financial services, government, healthcare, insurance, manufacturing, retail, and travel and transportation industries.

ACS expanded beyond banking services when it signed a 10-year data processing outsourcing contract with Southland Corp. (7-Eleven). In 1995 ACS became a public company and divested bank data processing. By FY1996 ACS became the fourth largest commercial outsourcer in the U.S.

Today, ACS ranks #401 on the FORTUNE 500 list and employs about 74,000 people around the world who serve thousands of commercial and government clients.

Lines of Businesses

Government Solutions Group

ACS enables governments to improve operations to better serve their citizens. ACS provides flexible, reliable solutions wherever they’re needed—on highways and in hospitals, at the courthouse and the corner store, over the phone and on the Web. By working with ACS, government agencies can transform the way they serve individuals and their communities, now and in the future.

The American Recovery and Reinvestment Act signed by President Obama is the most sweeping financial legislation enacted in our nation’s history. The $787 billion stimulus package invests significantly in healthcare, transportation, and human services – areas where ACS’ expertise can be leveraged to help governments implement exciting new initiatives. ACS stands ready to help government customers respond to this rapidly changing environment and meet the challenges of transformation and economic recovery.

Medicaid

ACS provides a broad range of end-to-end healthcare administration solutions with deep subject matter expertise. In its 37 years of experience, ACS is a preferred MMIS (Medicaid Management Information Systems) provider, and has successfully developed, implemented and received Centers for Medicare & Medicaid Services Certification in 31 state Medicaid programs to date. This number continues to rise as does its experience in the healthcare sector. ACS supports the full healthcare continuum beyond member enrollment and claims processing into the realm of Total Population Health Management and eHealth solutions.

ACS creates a custom solution that provides a unique mix of services, including business process transformation, systems development and implementation, program and policy consulting, analytic and clinical consulting services, customer care operations, health information exchange solutions, and a host of other services like claims processing and mailroom operations.

Enterprise Solutions & Services Group

ACS Enterprise Solutions & Services Group (ESS) serves thousands of clients around the world in practically every major industry and represents a significant portion of its growth potential.

ESS is organized by service offerings that include Commercial Education & Financial Services, Finance and Accounting (F&A) and Human Capital Management Solutions (HCMS).

With more than 45,000 employees in more than 400 locations worldwide, ESS maximizes ACS’ BPO and ITO capabilities and delivers competitive solutions to clients in markets such as communications, education, energy, financial services, government, healthcare, insurance, manufacturing, retail, and transportation and travel.

Transportation Solutions Group

ACS' Transportation Solutions Group (TSG) offers a wide range of intelligent transportation services. Its electronic payment and toll collection services give motorists and transit users the ability to pay fees electronically without stopping. ACS also offers commercial trucking services that automate the weigh station process and give trucking companies the ability to bypass weigh stations. ACS’ motor vehicle services offer Departments of Motor Vehicles and commercial fleet owners the ability to improve processing of registrations, permits, licenses, and taxes. The transportation services also help a variety of cities manage their parking systems, implement and operate photo safety enforcement systems, and manage information and billing for emergency medical services.

ACS helps transportation system operators improve their productivity, situational awareness, and client satisfaction by delivering comprehensive, client-specific solutions based on leading-edge technologies. ACS’ efficient systems combine proven state-of-the-art technology with a wealth of experience, permanent innovation, and all-encompassing service.

Healthcare, Finance & Insurance Group

The Healthcare, Finance & Insurance Group (HFI) at ACS delivers expertise in high-volume transaction processing and customer care through a single operating group. Serving clients in most key industries, HFI has grown to represent a quarter of ACS’ revenues.

With approximately 24,000 employees in the division, 9,500 in offshore locations, our expertise has made ACS the industry’s leader in low cost, high-quality administration and customer care services for the past 30 years.

Information Technology Outsourcing

In following this approach, ACS’ Information Technology Outsourcing (ITO) group provides global service offerings that enable its clients to focus on their core competencies.
ITO specializes in designing, developing, and delivering effective IT solutions to help clients streamline their IT functions and improve their competitive position.
ACS offers a variety of services, including remote infrastructure management outsourcing (RIMO), traditional IT data center outsourcing, migration consulting expertise, SAP system migration and utility computing.