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Trust Company of America licenses Wave Systems e-signature technology

17 July 2006  |  2057 views  |  0 Source: Wave Systems

Wave Systems Corp. (NASDAQ: WAVX) announced that it has been selected to provide a server-based e-signature and secure document vaulting solution for Trust Company of America, a specialized provider of custody and back office services to the financial services industry that utilizes advanced technology and responsive client support to provide registered investment advisor custody services, transfer agent and registrar for non-traded REITs and other direct participation programs, self-directed IRA account administration, and secure information processing.

Wave's TCG compatible eSign Transaction Management Suite (eTMS) will be deployed with Efficient Forms' iForms Product Suite, to enable Trust Company of America to automate its new account and account maintenance processes. Addressing the industry-wide problems associated with time consuming and expensive paper-based processes, Trust Company of America's new platform will allow investment advisors to focus their time and efforts on customer's investment needs - not administrative account management activities and support.

Wave's eTMS enables organizations to create, sign, store, access and manage the lifecycle of legally binding electronic records. eTMS is an integrated suite of applications that provide the functionality necessary to meet the technical, security and legal requirements of transactions governed by ESIGN, UETA, Revised Article 9 of the UCC, and SPeRS.

Efficient Forms' iForms Product Suite is the forerunner in business forms and data collection software for the financial services industry. With a single web-based solution, account data is collected, stored, transmitted and managed by participating parties. In this industry, these elements combined with e-signature provide for the only straight-through processing for new account establishment and transfer transactions.

"We are very excited about our partnership because it enables Trust Company of America to enhance their level of service and provide operational excellence to their clients," said David Kenney, chief executive officer, Efficient Forms, LLC

"Developing online forms processing was needed to support our growth and enhance our competitive edge in the areas of efficiency and client service," said Terry Reitan, president and chief executive officer of Trust Company of America. "The Wave/Efficient Forms solution will reduce our operating costs and our clients' operating costs through interview-based data collection, e-signatures, and a complete paperless work flow. This automation will reduce time between initiating and completing a transaction, cut down on overhead requirements, as well as decrease errors and incomplete forms."

"We are pleased to be working with Trust Company of America," said Scott Schrader, president of Wave's eSign Systems. "Trust Company's new offering will continue its history of providing state-of-the-art, industry-leading solutions."

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