Wednesday, April 02, 2008

Wells Fargo goes with DocuSign eSig solution

DocuSign reports that Wells Fargo Funding is accepting disclosure documents signed with its electronic signature offering and suggests that it is a sign of growing adoption in the space. DocuSign is now on the bank's approved electronic signature vendor list.

While adding a vendor to a list may not really indicate growing acceptance, I do believe that electronic signatures are going to be more important to lenders and servicers this year as they work to trim more expense out of the transaction. The MBA, in association with Encomia, has already shown that electronic signatures will reduce hard expenses related to printing, mailing and sorting documents.

DocuSign has been a strong player in this area for some time. There are a number of other vendors that have been offering electronic disclosures for quite some time now.

2 comments:

BrianPR said...

I actually believe that DocuSign is one of the pioneers in terms of offering an online or SaaS eSignature solution. As an online service, implementing DocuSign is fast and easy. Some of the other offerings that were around previously involved the cost of setting up and maintaining expensive, complex on-premise software and have been generally slow to catch on.

Rick said...

Thanks for the comment, Brian.

It is true that older offers were heavy and involved investment and costly implementation. Thank goodness for SOA and SaaS. Most of the offerings available now take advantage of new architectures that allow any lender to plug and play.

Update to the story: Encomia came out with news that it was also approved by Wells Fargo for eSignatures.