eLynx Releases eAdoption Best Practices — Six steps will significantly increase adoption rates
October 26, 2010
CINCINNATI – October 26, 2010 — eLynx, a portfolio company of American Capital (NASDAQ: ACAS), today released a report containing a list of best practices to increase eMortgage adoption gleaned from a number of studies the company has conducted with major lenders for whom eLynx has delivered over 2.6 billion pages of electronic documentation since 1994.
While lenders are well aware of the financial and time savings offered by delivering disclosures and closing document packages electronically, many struggle to get acceptance, both from consumers and from internal staff. The eLynx report provides a list of best practices that were instrumental in helping one Top-10 lender achieve 80% adoption.
“Our studies indicate that lenders can influence adoption, both inside and outside of their organization,” said Sharon Matthews, eLynx President and CEO. “Lenders that earn high adoption get all of the benefits of electronic lending, but we found that they also increased borrower pull-through, increasing the number of deals that made it all the way from application to close by 350%.”
The best practices for high adoption of electronic documents relate to the way the lender rolls out the program, supports it and manages it. Slight modifications to the way call center employees interact with borrowers were also important to adoption.
A copy of the report is available at no cost and can be received by contacting eLynx atsales@elynx.com.
About eLynx
eLynx, a portfolio company of American Capital (NASDAQ: ACAS), provides the most widely used network for electronic document collaboration and distribution services for the financial services industry. Enterprises use eLynx to capture and maintain data electronically throughout the document life cycle, automating paper-intensive processes, improving workflow, reducing costs and ensuring compliance with industry regulations. eLynx serves more than 500 financial institutions, including 7 of the top 10 banks and has processed over 45 million loans. Over 4,000 enterprises worldwide, comprising more than 4 million users in a broad spectrum of industries, use eLynx's enterprise document output solutions daily. The company was founded in 1994 with headquarters in Cincinnati and offices in Portland, Oregon. It maintains redundant data centers in Beaverton, Oregon and Chicago. For more information, visitwww.elynx.com.
Company Contact:
Robert Nilsson
Vice President of Marketing and Market Development, eLynx
Media Contact:
Rick Grant
800-979-9049
570-497-1026 (cell)
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