Direct Capital, a provider of commercial lending services in the US, has launched a new electronic documentation system built around a partnership with lectronic signature, vaulting and electronic transaction solutions vendor eOriginal.
According to Direct Capital, the new system will enable its customers to securely execute lease, loan, and working capital transactions electronically. It is also expected to reduce turnaround time for business customers and deliver meaningful cost savings for the company.
James Broom, CEO for Direct Capital, said: “We have launched the most streamlined, convenient lending process available to businesses today. The initiative has reduced the customer documentation processing time from five days to five hours on average.
“Our vendor selection hinged on the capability to deliver robust eSignature technology and management together with a trusted repository. eOriginal has a long and successful history providing the capability to transfer and securitize electronic loan transactions.”