TIDMSNS

RNS Number : 1723E

Silanis International Limited

04 April 2011

 
 RNS release   4 April 2011

Silanis International Limited (the "Company")

announces ThinkSmart moves to paperless processing of consumer retail applications with Silanis e-signatures

The Company (AIM: SNS) is pleased to announce that ThinkSmart, an international financing company that specializes in computer and office equipment loans, has selected Silanis Technology Inc. ("Silanis") for its electronic signature solution. The Silanis e-Sign Enterprise Platform will be integrated with ThinkSmart's online finance system in order to move to paperless processing of consumer credit and lease applications for its on-line and in-store operations.

The initiative from ThinkSmart will provide additional competitive advantage in the UK and Australian markets by enhancing customer service and improving operational efficiency.

"Eliminating the delays, errors and costs associated with getting customer signatures in application documents will allow ThinkSmart to improve the customer experience and take our operations to the next level," said Ned Montarello , CEO and Founder of ThinkSmart. "Not only will we process applications faster, we'll be in a better position to expand our distribution reach with existing retail partners and create new relationship opportunities with participants in the online retail space."

ThinkSmart grew its business by 45% and cut operating costs by 17% after introducing "QuickSmart", an innovative, online application portal that it developed. Moving to paperless processing will enable ThinkSmart to achieve the full benefits of straight-through processing across its existing UK and Australian operations.

Silanis' electronic signature solution will be fully integrated with QuickSmart, and is scheduled to go live in the second half of 2011. Silanis' technologyis responsible for orchestrating the transaction process in compliance with all business, legal and regulatory requirements during the document presentation, review and signing stages of the process. It also captures the recording of the web process from start to finish providing even stronger legal evidence than is possible using pen and paper and strengthening ThinkSmart's legal and compliance position.

As a critical component of ThinkSmart's growth strategy, the integration design will generate recurring revenue for Silanis over a long-term contract.

For further details, please contact:

 
 Silanis International Limited          Tel: +1 514 337 5255 
  Tommy Petrogiannis, Chief Executive 
  Officer 
 Canaccord Genuity Limited              Tel: +44 (0) 20 7050 
  Mark Williams                          6500

About ThinkSmart: ThinkSmart is a leading international financial services company in the delivery of point of sale finance products through the retail environment. The business currently operates with market leading retailers and financial institutions in the UK, mainland Europe, Australia and New Zealand where it has built a reputation for processing high volumes of low value consumer and business finance transactions quickly and efficiently.

About Silanis: Silanis solutions have processed hundreds of millions of e-signatures since the company was founded in 1992 (50 million in 2010 alone), making it the most widely used e-signature solution. The world's largest insurance and financial services companies, government agencies, and service providers depend on Silanis to accelerate business transactions and reduce costs while improving compliance with legal and regulatory requirements.

This information is provided by RNS

The company news service from the London Stock Exchange

END

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