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  Wave's eSign Systems was formed to empower enterprises and agencies to manage business processes and transactions entirely online. With the eSign Transaction Management Suite (eTMS) organizations can immediately achieve regulatory compliance, improved productivity and efficiency in processing transactions, and significant cost savings through the elimination of document transportation costs, processing and storage. The eTMS also provides improved control over the access to electronic information, with the ability to authenticate the identities of participants in b2b,b2c, g2g, g2b and g2c transactions. This also reduces risk and liability associated with lost documents, unauthorized purchases or unwanted access to information. The eTMS has patent applications pending for a paperless transaction processes.

The company is positioned to be the leading provider of lifecycle management of electronic documents, including legally binding signed contracts and is well positioned to take advantage of the movement toward online digital transactions. Enacted legislation such as the Electronic Signatures in Global and National Commerce Act (ESIGN), the federal law establishing a nationwide uniform standard for engaging in electronic commerce.

The Uniform Electronic Transactions Act (UETA), the state law applies only to transactions between parties which have agreed to conduct transactions by electronic means. Similar to ESIGN Act, UETA provides for the legal validity of electronic signatures and records but does not address the reliability or authenticity of any such signature. Reliability and authenticity must be determined by the facts and circumstances surrounding the electronic transaction. The burden of proof is on the issuing party of the document, thus the importance of choosing a solution that can meet the regulatory requirements is key to a successful ESIGN implementation. Other important Regulatory standards driving digital signing and electronic records are HIPPA, which governs the healthcare industry and GPEA, the Government Paper Elimination Act.

The benefits of this legislation are far-reaching, offering consenting parties the ability to substantially eliminate offline transactions that previously required "wet ink" signatures. For example, financial services providers now will be able to deliver a wide range of products and services (e.g., mortgages, insurance, securities) to consumers electronically. For example, a consumer could apply for a mortgage to buy a new home with an online lender and elect to conduct the transaction electronically, including receiving federal and state disclosures online. After receiving approval through an automated underwriting system, the borrower and the lender could conduct an electronic closing with both the note and mortgage created as an electronic record under the procedures set forth in ESIGN. This ability to perform a totally electronic transaction should produce enormous cost savings and increased efficiencies in the delivery of financial services for consumers and businesses alike.

The eTMS division has been very involved with various Standards groups to ensure product compliance within various industries. Examples of those groups include SPeRS, (Standards and Procedures of Electronic Records and Storage), a sub group of the EFSC (30-member Electronic Financial Services Council) of which Wave Systems (formerly SignOnline, inc.) was one of the first members. MISMO is another Standards group, a sub group of the MBA (Mortgage Bankers Association).


The eTMS offers the following functionality to a signer of a document:
  • Establish consumer Identity through real-time authentication process
  • Issue Digital Certificate to individuals from public or private Certificate Authorities
  • Ability to sign using an electronic (username/password) signature or digital signature.
  • Designate specific signer(s), countersignatures or expiration dates for specific document
  • Mandates signer to view document before signing
  • Signer has ability to reject document and send comments to document owner
  • Customized online support available to the signer
  • Confirms signer's intent to submit legally binding document
  • Confirms document was successfully received and validated by SmartSAFE
    • Checks certificate chain, expiration and revocation if digitally signed
    • Time and date stamps transaction (document)
    • Verifies document integrity
  • Ability to trigger email notification to signer and document owner upon submission of signed document to the SmartSAFE
  • Signer has ongoing access to all signed documents from SmartSAFE view
  • All this functionality in a single browser session.
The above functionality is just a small subset of the entire Suite. For greater details of all functionality of the eSign Transaction Management Suite please see the how it works section of the website. The product set includes:
  • SmartIdentity (optional)
  • SmartForms
  • SmartSignature and/or SmartSignature Server
  • SmartSigning Service
  • SmartSigning Room
  • SmartSAFE
  • SmartConnect (optional)
Recognizing today that the internet is increasingly becoming a first-choice medium of conducting business today, the eTMS offers technology which can change the way e-business is conducted on line. The eSign Transaction Management Suite (eTMS) enables companies to do what electronic commerce always promised, which is to complete every step of even the most complex transactions in a seamless, efficient, and, most importantly, in a legally enforceable manner.

From verifying identity to applying signatures, to storing and retrieving unalterable documents, the eTMS enables companies to turn transactions into contracts and customers into relationships.

 
 
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