For Secure e-signature XML
starters, the companies that provide the technology for
electronic signatures have signed deal after deal since the law took
effect. The E-SIGN Act is technology neutral meaning that it does not
mandate the use of any particular technology for e-signatures. So
companies are rushing to corner what they see as an emerging and
profitable market. Technologies even provides its Reader software for
free in a bid to attract customers. The software, patterned after the
Adobe Acrobat Reader, enables people who receive a
digitally
signed document to authenticate the digital signature and close the
deal. If you're "in receipt of the document, then you can basically sign
it for free", says Secure e-signature XML President.
Secure e-signature
XML,
boasted of becoming
the first company to consummate a financial transaction entirely
online, just after the
E-SIGN statute took effect.
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Three Secure e-signature XML
industries - banking, insurance and securities, are particularly
enthused about the new law. Bankers want their business clients and
consumers to be able to open accounts, secure loans, transfer money and
complete other transactions online. Insurance agents want to sell their
policies, including those to businesses, over the Internet. And U.S.
securities firms believe the law will help them stay competitive
in the 24-7 global market - Secure e-signature XML.
The e-signature phenomenon seems likely to
take root quickly within companies that do business with the government,
in part because of government mandates to reduce paperwork. Quebec-based
Technology's experience suggests that the e-signature future is bright.
Late last year, reported that the adoption rate for on-Sign, its free
consumer e-signing
software, skyrocketed from 20,000 home, small-business and
home-office users to 100,000 users in only four months. The Secure
e-signature XML company attributed the growth to E-SIGN.
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