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Fri, 09/30/2011

By Ryan Schuette

DocMagic, Inc., made waves recently by dropping fees for the eSign Solution, which users can deploy to safeguard their electronic documents. Users will now be able to access the product without incurring any cost.

The eSign product allows users to digitally capture and seal audits, documents, email notifications, and more, enabling saved time and cost on paper and financial expenses, according to a statement.

A secondary benefit? More companies, brokers, and borrowers could transition to a more environmentally friendly, paperless environment.

“We developed eSign to be used for any document purely as goodwill for the industry, and we did it for free to encourage greater adoption of electronic signatures,” Dominic Iannitti, president and CEO of DocMagic, said in a statement.

“I strongly believe that our offering will revolutionize the way documents are signed by creating a domino effect among companies using it,” he said.

With an application programming interface that the company says simplifies office transitions, eSign serves the customers who use it by relying on ClickSign tech, as developed by DocMagic.

The company says that borrowers have used the platform to sign off on electronic agreements, notices, and disclosures associated with the origination process.

“We are laying the foundation for other software vendors to follow suit and our aim is to reduce the need to rely on paper and help organizations go green,” he added. “Using our eSign solution to sign sensitive documents such as contracts, NDAs and proposals is as legally effective, valid and enforceable as documents that are printed and signed in ink.”

According to its Web site, Carson-based DocMagic, Inc., started in 1988 and continues to develop software and Web-based systems for loan compliance matters.

As published in TheMReport, October 2011.