Replies to post #68808 on Wave Systems Corp. (fka WAVXQ)

[blithering Idiot]

It has somefin do wif the digital signatures fing.

Mortage transactions online, document signing ect.

I am not too deep into that one, but I think it might have something to do with being able to close on a house sale while wearing just your underwear (nobody's home outfit) and not having to give yourself carpal tunnel.

[go-kitesurf]

-- EDITED -- Fly, look up the term "eMortgage Alliance" and you'll see a bunch of companies involved, but Wave and DocuTech actually formed the Alliance, itself:

http://www.docutechcorp.com/newsArchives.php?art=11&year=2003

Idaho Falls, Idaho, -- January 29, 2003 --DocuTech Corporation (DocuTech) and Wave Systems Corporation (Wave) today announced the formation of the eMortgage Alliance, an official collaboration of industry-leading companies working together to deliver a completely paperless mortgage solution.

The eMortgage Alliance unites the capabilities of DocuTech, Wave Systems, VirPack, SwiftView and Rekon Technologies, to enable customers to produce an eMortgage today. The eMortgage Alliance’s members each specialize in separate steps of the mortgage process, including the creation of SMART Docs, eSigning, ePackaging, eMessaging, eRecording, and eVaulting.

http://www.wave.com/news/press_archive/02/021016docutech.html

CHICAGO, IL, – Oct. 16, 2002– DocuTech Corporation (DocuTech), a leading provider of compliance services and documentation technology for the mortgage industry, today announced a strategic partnership with Lee, Mass.-based Wave Systems Corp. (NASDAQ: WAVX) to offer a completely paperless electronic mortgage – saving significant time and money for both consumers and businesses. Wave Systems is a leader in trusted computing solutions and services, including its SignOnline® Suite of Services, a complete web-based digital signing and document storage solution. This partnership enables both companies to deliver a comprehensive eMortgage solution to the industry.

Wave’s SignOnline SmartSignature® and SmartSAFE™ software applications ensure the integrity of legally-binding digital contracts. Through its point-and-click interface, SmartSignature software uses Public Key Infrastructure (PKI) technology to create a legally binding signature on a Portable Document Format (PDF) document. A signed document is then stored and managed by SmartSAFE technology. Via SmartSAFE, a lender can view, manage, store and transfer sensitive signed and unsigned documents. SmartSAFE also provides signer access to their documents. Documents can be signed, verified, accepted and filed in minutes – instead of days.

The SignOnline technology works with any X509.3 digital certificate, allowing lenders to leverage both private and public certificate authorities they are working with. Wave can provide certificates to customers via its PKI & Identity Services platform, allowing lenders to go where no verifiable trust relationship currently exists. SignOnline ensures the integrity of digital contracts by verifying the signer's identity. After collecting basic information on an individual, real-time authentication checks are performed to validate the identity. In addition, Wave System’s EMBASSY TrustEdge devices such as secure keyboards and smart card readers can provide strong, multi-factor user authentication using either real or virtual identity credentials and passwords. Once the borrower is authenticated, a digital signing certificate is issued and automatically installed on the borrower’s web browser or personal Smart Card.

This partnership provides the mortgage industry with a complete electronic closing preparation, signing and storage solution. With this agreement, DocuTech will generate the documents in either the traditional paper format or Securable, Manageable, Archiveable, Retrievable and Transferable Document (SMART Doc) format. Wave will provide the digital signature and digital document storage application. Combining their capabilities, DocuTech and Wave will deliver a total electronic solution from loan application, origination to investor delivery and servicing.

"Offering this complete electronic closing preparation, signing and storage solution to the marketplace today solidifies the fact that the paperless mortgage is now a reality and ready for deployment today," said Ty Jenkins, CEO of DocuTech. "Having a complete paperless mortgage helps speed loan transactions, creates an easier, more enjoyable experience for all parties involved in the closing process and saves both the borrowers and lenders real time and money."

"Wave’s SignOnline digital solutions are the emerging leader in e-vault and e-sign applications available to the financial services industry today," said Jim Horne, Wave’s vice president, financial services. "Through our partnership with DocuTech, we will now be able to offer a comprehensive electronic closing preparation, signing and storage solution that has the potential to revolutionize the mortgage process for many Americans."

DocuTech offers an enterprise document software solution for all origination channels and transactions from point-of-sale, to closing to investor delivery. DocuTech’s mortgage software simplifies the process of maintaining, preparing, printing and routing required documents. The program, based on the latest XML Internet technology for generating legal digital documents and electronic delivery of loan packages, resides on a customer’s computer and is compatible with the MBA’s MISMO SMART Doc and Fannie Mae’s eMortgage investor delivery guidelines.

DocuTech’s programs interface with leading loan origination systems (LOS), including Byte, Calyx, DataTrac, Interlinq, MortgageFlex, Genesis, Contour and Ellie Mae.