REDWOOD SHORES, Calif. and TEL AVIV, Israel, Jan. 13 /PRNewswire-FirstCall/ -- Communication Intelligence Corporation ("CIC") (OTC Bulletin Board: CICI), a leading supplier of electronic signature solutions for business process automation in the financial industry* and the recognized leader** in biometric signature verification and Shadow Computers Ltd. ("Shadow") (DBA: Tsel Mahashevim Ltd.), a leading Israeli banking and insurance software developer and consulting company specializing in implementing computer technology to automate workflow and streamline paperless business processes, announced today that they have signed an agreement for integrating and reselling CIC's full suite of electronic signature solutions in Israel.
Under the terms of the agreement CIC will provide its industry proven electronic signature technology for Shadow's InSure-Thesigner document platforms to enhance the form, functionality, and ease-of-use of its systems as well as other software and platforms. InSure-Thesigner was designed to leverage an organization's existing IT investments to enable quick and easy deployment. CIC's eSignature capabilities can be quickly added to the existing application and can be used to sign widely accepted document formats, including Word, Excel, Adobe Acrobat, and HTML. Once signed the signature is permanently embedded in the document which is streamed into the organization's existing workflow, content management, and document storage systems.
Shadow plans to provide electronic signature capture & verification, at every level for the banking and insurance industries as well as other vertical markets in Israel. The company has already secured a top-tier bank in Israel as its first customer for an integrated electronic signature solution and has been working closely with several other financial industry firms in the region.
"This is a significant milestone in the future of electronic signature in Israel," stated Yaron Cohen, Shadow's CEO. "Until now, one vendor had a lock on the financial services market as the only eSignature provider in Israel. Armed with CIC's proven technology for banking and insurance, Shadow now has the backing and resources that is needed to provide full-scale, legally binding and compliant electronic signature solutions which meet the rigorous requirements of Israeli legislation. CIC's proven solutions provide Shadow leading-edge technology that is accepted throughout the world as a best-in-class solution for electronic signature."
CIC's comprehensive product suite of software tools, shrink-wrapped solutions and server technologies address the stringent requirements in Israel. The flexibility and open architecture of CIC's products enable a rapid and seamless integration into these systems and fully supports customization by Shadow for its customers.
"We are delighted to partner with Shadow to gain the benefit of our integrated solutions and to expand CIC's market coverage to Israel," stated Guido DiGregorio, CIC's Chairman & CEO. "Shadow joins our growing base of select partners successfully delivering solutions that leverage the extensive capabilities of our products in conjunction with their experience and solutions to meet the unique needs within their region and represents a significant opportunity to generate new business."
The combined offering accelerates transactions, and significantly reduces cost of transaction processing to provide overall improved customer service satisfaction and efficiency. Additionally, support for automated business processes improves data quality and reliability of financial transactions.
About Shadow Computers Ltd.
Shadow Computers Ltd., also known as Tsel Mahashevim Ltd., is a leading Israeli banking and insurance software developer and consulting company specializing in implementing computer technology to automate workflow and streamline paperless business processes.
For more information please visit our website at www.shadow.co.il
Communication Intelligence Corporation ("CIC") is a leading supplier of electronic signature solutions for business process automation in the Financial Industry and the recognized leader in biometric signature verification. CIC's products enable companies to achieve truly paperless work flow in their eBusiness processes by enabling them with "The Power to Sign Online®" with multiple signature technologies across virtually all applications in SaaS and fully deployed delivery models.
Industry leaders such as AGLA, Allstate, American Family, Charles Schwab, 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 hundreds of thousands of users, with over 500 million electronic signatures captured, eliminating the need for over a billion pieces of paper. 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. For more information, please visit our website at http://www.cic.com.
*In December 2008, CIC was named to Forrester Research's "Hot Banking Tech Companies To Watch in 2009" Report.
**In October 2007, CIC was awarded the 2007 Global Frost & Sullivan Award for Market Leadership in the dynamic signature verification market.
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.
CIC and the Power to Sign Online are registered trademarks. All other trademarks and registered trademarks are the property of their respective holders.
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