eLynx Processes over 2 Billion Electronic Docs
eLynx, a portfolio company of American Capital Strategies Ltd. (NASDAQ: ACAS), says its document communications network will have processed, distributed and facilitated collaboration on a total of more than two billion pages of financial services documents by the end of business today. Anyone interested in watching the doc-ometer roll over can surf to the company's website at www.elynx.com.
eLynx provides the most widely used secure electronic document communications network for the financial services industry. The company bought Swiftview in 2006.
eLynx reports that in 2007 alone, more than 12 million secure financial transactions – involving lenders, insurance carriers, agents and consumers – were electronically completed via eLynx document processing services. The firm is already seeing increased activity due to lenders' renewed commitment to electronic mortgage lending.
“eLynx remains committed to providing financial services enterprises with the very best in secure electronic document technology and services,” says Sharon Matthews, eLynx president and CEO. “But our commitment goes beyond that. We're making sure we're working as hard as we can to deliver real world financial performance while making a positive environmental impact. With over two billion secure, paperless documents processed – that's a stack of paper nearly eighty miles high – I think it's safe to say we have a sustainable model for removing paper from our customers’ operations.”
Disclaimer: I was hired to facilitate the company's IdeaWorks Users Conference in February and spent a couple of days with eLynx executives and executives from its Top-10 US banking clients. I was impressed with the company's vision and with the willingness of its top clients to embrace it. When eMortgage's take off this year, this will be one of the companies in the lead.
eLynx provides the most widely used secure electronic document communications network for the financial services industry. The company bought Swiftview in 2006.
eLynx reports that in 2007 alone, more than 12 million secure financial transactions – involving lenders, insurance carriers, agents and consumers – were electronically completed via eLynx document processing services. The firm is already seeing increased activity due to lenders' renewed commitment to electronic mortgage lending.
“eLynx remains committed to providing financial services enterprises with the very best in secure electronic document technology and services,” says Sharon Matthews, eLynx president and CEO. “But our commitment goes beyond that. We're making sure we're working as hard as we can to deliver real world financial performance while making a positive environmental impact. With over two billion secure, paperless documents processed – that's a stack of paper nearly eighty miles high – I think it's safe to say we have a sustainable model for removing paper from our customers’ operations.”
Disclaimer: I was hired to facilitate the company's IdeaWorks Users Conference in February and spent a couple of days with eLynx executives and executives from its Top-10 US banking clients. I was impressed with the company's vision and with the willingness of its top clients to embrace it. When eMortgage's take off this year, this will be one of the companies in the lead.
Comments
A couple of interesting data points to note about this number:
1. Two Billion is hard to imagine. If you were to take all of the pages and place them next to each, the chain would wrap around the earth 15 times.
2. In the early days of eLynx we began by delivering the documents electronically. This removed the paper on the outbound side, but didn't completely eliminate it. In addition to the savings for the lenders, there was still an upside from environmental perspective - reduced Carbon Footprint. Now with uSign (our eSignature solution), we can remove the paper completely. The business benefits are obvious and the environmental impact is even more tangible.