eOriginal Inc. Announces Strategic Licensing Agreement with DaimlerChrysler Services
BALTIMORE--Dec. 9, 2003--| The eOriginal-Powered Signature and Vaulting Features Will Enable Fully Electronic Automotive Financing Through AutOrigination |
eOriginal, Inc. announced today that DaimlerChrysler Services North America LLC, a leading captive financial services provider, has licensed the eOriginal software product line to assist in the development of an eContracting system that will be an enhancement to their existing dealer point-of-sale contract verification system, AutOrigination. Leveraging the capabilities of the eOriginal SmartSign and eOriginal eCore products, DC Services is developing a comprehensive eContracting solution including electronic contract forms, electronic signature capture and electronic document vaulting.
AutOrigination was designed by Chrysler Financial, a business unit of DC Services, to meet the specific needs of Chrysler Group dealers and is a revolutionary new way to validate retail customer contracts and lease agreements at the point-of-sale.
"Our mission is to provide our dealers with industry leading point-of-sale solutions and our partnership with eOriginal enables AutOrigination to evolve to the next level," said Steve Luyckx, Senior Manager -- Credit Strategies for DC Services. "DaimlerChrysler Services offers a suite of integrated dealer systems and AutOrigination is our most recent addition. The implementation of an eContracting solution will fundamentally change the way we do business with our dealers."
"We worked closely with DaimlerChrysler Services through their evaluation period to understand their needs and to fully educate them on the technical capabilities of our products," said Bryan Caporlette, eOriginal Chief Technology Officer. "eOriginal is committed to standards-based development, providing customers with alternative operational platforms, and the ability to handle large volumes of financial transactions."
"The capability to implement an effective eContracting solution is here, it's real and is break through technology that a variety of automotive lenders are considering. We are focused on this market and are proud that the market leaders rely on eOriginal to achieve their technology and business objectives," said Jack Stose, Vice President of Sales and Marketing for eOriginal.
About eOriginal:
eOriginal, Inc. is a leading software and solutions provider offering the first end-to-end integrated solution for creating and managing complex electronic contracts, transferable negotiable instruments, securities and source records. eOriginal's software enables enterprises to execute secure, online business transactions in which legally enforceable electronic documents completely replace paper as the essential high value assets or source records. eOriginal SmartSign and the eOriginal eCore Business Suite enable the creation, management, sale, and securitization of fully electronic assets, such as mortgage notes, leases, installment contracts, and securities, as Transferable Records under E-Sign, UETA and UCC Article 9. eOriginal SmartSign and eOriginal eCore are trademarks of eOriginal. eOriginal is headquartered in The Warehouse at Camden Yards in Baltimore, MD. For more information, visit http://www.eoriginal.com.
About DaimlerChrysler Services North America LLC:
DaimlerChrysler Services North America LLC provides brand-specific financing for automotive dealers' inventories and their retail consumers and does business as Chrysler Financial and Mercedes-Benz Credit. As DaimlerChrysler Services Truck Finance it also finances commercial vehicles for affiliate products such as Freightliner, Sterling and Western Star. The company serves as the headquarters for the operations in the United States, Canada and Mexico and has over 5,500 employees who manage a portfolio of $83 billion with nearly five million contracts. DaimlerChrysler Services North America is a member of the DaimlerChrysler Services Group, headquartered in Berlin, Germany, which operates in 39 countries with an employee base exceeding 10,800 and a global portfolio of USD 118 billion. DaimlerChrysler Services is one of the leading financial services companies worldwide. AutOrigination is a trademark of DaimlerChrysler Services.