Credit agreements online in minutes with GE Capital

Technology to enable credit agreements to be signed online securely has been made available by leasing specialist GE Capital to its customer base in what is believed to be a first for the UK leasing industry.

e-Signature technology has been deployed to partners who offer GE Capital's leasing solutions through their own-brand to their own customers. The process is simple and requires no additional hardware or software to be installed. Once the partner has checked their customer's status through the GE Capital extranet facility, an electronic document is generated and emailed to the customer. After reviewing the agreement the customer can e-Sign it with a single click of button. The whole process can take just minutes from beginning to end.

The key advantages of e-Signatures for partners and their customers include:

It is a fast, quick and easy process to sign credit agreements entirely online, eliminating the time taken through conventional use of hard-copy contracts signed manually and sent through the post.

It gets things right first time. Since the process is automated the possibility of error is reduced to a minimum.

It's green. The process is paperless and no contracts are transported by road or rail.

Even though the eSignature solution does not require any additional hardware or software for the partner or the customer, sophisticated security measures are built into it, including a range of document, fraud and signature checking procedures based on proprietary technology developed by GE Capital that uses existing secure extranet connections.

Simon Trudgeon, commercial leader, said: "eSignatures really does make the whole process of creating a credit agreement much faster and more accurate, while still retaining a very high level of security.

"eSignatures means that our partners can quote for and complete leasing agreements with customers in a matter of minutes entirely online, with all the productivity, accuracy, increased revenue and environmental benefits that it brings."