Digital Signature Technology Enables True e-Commerce for Management Of Mortgage Loans, Lease Contracts and Shipping and Trade Documents
BEDFORD, Mass., Aug. 27 /PRNewswire/ — RSA Security Inc. (Nasdaq: RSAS), the most trusted name in e-security(TM), today announced that eOriginal Inc. has selected RSA Keon(R) Certificate Authority (CA) PKI software to support its virtual and secure system to conduct business transactions over the Internet. eOriginal, a leading provider of advanced e-commerce business solutions, will use RSA Keon CA software to issue its Public Key Infrastructure (PKI) certificates that support creation and verification of digital signatures.
“The RSA Keon CA software is the first commercial CA product uniquely designed to operate as a hierarchical PKI that allows creation and management of CAs that issue certificates usable among industries, corporations, user groups and individuals,” said Stephen Bisbee, president of eOriginal. “For example, having this capability facilitates an electronic mortgage loan closing transaction, where the electronic documents need to be securely shared among multiple parties — regardless of their different locations. Using RSA Keon digital certificate technology as a part of our total solution, these documents can be securely created, executed, recorded, accessed and sold electronically, helping to reduce a process that traditionally takes 45 days, to less than four hours.”
eOriginal selected the RSA Keon CA software to be used as part of three customized industry solutions because it is designed to be a highly secure, easily scalable, hierarchical PKI that allows them to create a closed PKI model, where user enrollment responsibility is delegated to system subscribers. Xerox Federal Credit Union is using the eOriginal(TM) system, enabled with the RSA Keon CA, to facilitate fully electronic loans, and an international shipping and trade application is currently being tested by eOriginal through pilot programs. In addition, IBM Global Financing is using the eOriginal(TM) system to initiate a program to fully Web-enable their customer financing offerings.
The enactment of the Electronic Signatures in Global and Commerce Act (E-Sign) last year gave many digitally signed documents the same legally binding status as traditional pen-and-ink versions. Public key infrastructure technology has emerged as one of the more widely used methods for implementing digital signatures. “With the ratification of the E-Sign Act, businesses are now able to complete transactions online and take full advantage of the efficiencies and cost savings that the Internet makes possible,” said Scott Schnell, senior vice-president of marketing and corporate development at RSA Security. “eOriginal’s selection and use of RSA Keon CA software shows the growing trust in our ability to provide the security and integrity necessary to conduct worldwide, Internet-based commerce.”
The certificate authority is the critical component in a PKI-based application, responsible for certificate issuance and management that enables global PKI. RSA Keon CA software is designed to maintain its high performance even when scaled to the massive demands of signing operations, PKI queries, and large-scale certificate storage and management tasks. RSA Keon software has been independently tested to scale to more than 8 million certificates from a single server while maintaining system performance and manageability.
RSA Keon CA’s flexible architecture is designed to result in a high return on technology investment and provides a unified security infrastructure with increased levels of value. RSA Keon software allows companies to own and operate their own CA’s according to their existing business practices, creating greater overall control and flexibility of the CA as well as cost savings.
eOriginal Inc. is the only software solution provider for transferable electronic negotiable instruments, securities and source records which enable 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. It is the only company that offers a complete, comprehensive and integrated solution capable of creating Electronic Originals(TM) that are legally accepted as the electronic equivalent of negotiable instruments and insured by a respected global insurance provider, and the only e-commerce solution that fully complies with all six transferable record criteria of E-Sign, the Uniform Electronic Transactions Act (UETA) and UCC Revised Article 9 legislation. eOriginal Inc. is headquartered in The Warehouse at Camden Yards in Baltimore, MD. For more information, please visit http://www.eoriginal.com. About RSA Security Inc. RSA Security Inc., the most trusted name in e-security, helps organizations build secure, trusted foundations for e-business through its RSA SecurID(R) two-factor authentication, RSA BSAFE encryption and RSA Keon(R) digital certificate management systems. With approximately one billion RSA BSAFE-enabled applications in use worldwide, more than nine million RSA SecurID authentication users and almost 20 years of industry experience, RSA Security has the proven leadership and innovative technology to address the changing security needs of e-business and bring trust to the online economy. RSA Security can be reached at http://www.rsasecurity.com.
NOTE: RSA, BSAFE, Keon, and SecurID are registered trademarks, and The Most Trusted Name in e-Security is a trademark of RSA Security Inc. All other products and services mentioned are trademarks of their respective companies.