REDWOOD SHORES, Calif., June 30 /PRNewswire-FirstCall/ -- Communication Intelligence Corporation ("CIC") (OTC Bulletin Board: CICI), the leading supplier of electronic signature solutions for the financial industry and the recognized leader in biometric signature verification, acknowledges the signing of the Electronic Signatures in Global National Commerce (E-SIGN) Act into law ten years ago today. CIC is the pioneer and leader in both evangelizing and driving adoption of the technology since its inception.
The E-SIGN Act, signed into law by then President Bill Clinton, gave electronic signatures the same legal standing as traditional wet signatures. The signing was acknowledged by every major newspaper, including the New York Times with a full page article declaring "The Revolution Begins." The New York Times projected the potential positive impact of the paperless enterprise as it described the incredible benefits and possibilities associated with the legalizing of eSignatures together with electronic processing predicting the technology would significantly and permanently change the way people conduct business.
"I was extremely pleased to be featured in the New York Times article with the following quote: 'It is truly a watershed event. I can do transactions at the speed of the Internet, cut costs fifty percent – and I am more secure than I was before,'" stated CIC Chairman and CEO, Guido DiGregorio. "Earlier, in our own press release I commented, 'The E-SIGN bill significantly contributes towards moving us from the paper age to the digital age allowing major improvements in the way people conduct business while giving electronic signatures the same legally binding status as traditional hand written signatures. Through our signature verification technology, businesses and consumers are able to dramatically improve the speed of transactions, at the highest level of security, while eliminating the cost of paper. Signature dependent industry sectors like financial services, banking, healthcare, insurance, and real estate represent enormous potential and CIC is well positioned to participate in this rapidly emerging market.'
"My comments are as true today as the day I made them!
"Clearly, electronic signature adoption has been an Evolution versus a Revolution despite the New York Times proclamation and prediction. Regardless of the incredible benefit potential of the paperless enterprise, the reality is that, electronic signature technology adoption has of necessity followed the classic regulatory dependent enterprise technology adoption curve evolving through several generations of products and other market factors and now has entered the high growth stage. This has been confirmed by independent Industry Research firms such as Gartner and Forrester proclaiming the electronic signature market is finally 'entering its renaissance' and has 'achieved critical mass.'
"I would be remiss on this anniversary if I did not acknowledge the major contributions made by the early adopters of electronic signature technology, the innovative, pioneering firms that perceived the benefits and lead the way in an effort to gain those benefits to serve their customers more effectively and to enhance their business results as well. Early adopters of our technology, such as American General Life, Charles Schwab, Prudential, Snap-on Credit, State Farm, Nationwide of England and Wells Fargo, have made invaluable contributions to the validation and adoption of the technology necessary for the mainstream adoption which is now underway. The contribution of such leaders to our know-how and experience, reflected in the current generation of product, was invaluable and we are dedicated to leading the adoption now underway especially in the financial industry."
The benefits and return on investment associated with those pioneering deployments are a matter of record today, which can be viewed along with other CIC deployments on our website at http://www.cic.com/casestudies and www.cic.com/testimonials.
And now, CIC sponsored research by independent industry analyst confirms and verifies that CIC's comprehensive approach to electronic signature technology delivers significant improvements in multiple performance factors that enable achieving cost effective sales growth which is the key challenge facing businesses today in the face of a constricted economy following the 2009 recession. To obtain a copy of the research, visit:
Over the past decade, Communication Intelligence Corporation ("CIC") has emerged as the leading supplier of electronic signature to the financial industry with major deployments including six of the top ten insurers and two of the top five banks.
CIC enables companies to achieve truly paperless workflow in their eBusiness processes by providing multiple signature technologies across virtually all applications in SaaS and fully deployed on-premise delivery models. CIC based solutions afford Straight Through Processing (STP) which increases revenue by enhancing the customer experience and significantly reduces costs through paperless, virtually error free electronic transactions together with significant business cycle compression.
Financial Industry leaders including AGLA, Allstate, American Family, Charles Schwab, JP Morgan Chase, Nationwide (UK), Prudential, Snap-on Credit, Travelers, Wachovia, Wells Fargo and WFG (World Financial Group) chose CIC's products to meet their needs. CIC has deployments with over 400 channel partners and enterprises worldwide representing millions of end users. CIC sells directly to enterprises and through system integrators, channel partners and OEMs. CIC is headquartered in Redwood Shores, California and has a joint venture, CICC, in Nanjing, China. Fore more information, please visit our website at http://www.cic.com
Forward Looking Statement
Certain statements contained in this press release, including without limitation, statements containing the words "believes", "anticipates", "hopes", "intends", "expects", and other words of similar import, constitute "forward looking" statements within the meaning of the Private Litigation Reform Act of 1995. Such statements involve known and unknown risks, uncertainties and other factors which may cause actual events to differ materially from expectations. Such factors include the following (1) technological, engineering, quality control or other circumstances which could delay the sale or shipment of products containing the Company's technology; (2) economic, business, market and competitive conditions in the software industry and technological innovations which could affect the Company's business; (3) the Company's inability to protect its trade secrets or other proprietary rights, operate without infringing upon the proprietary rights of others or prevent others from infringing on the proprietary rights of the Company; and (4) general economic and business conditions and the availability of sufficient financing.
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SOURCE Communication Intelligence Corporation