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Avista Solutions marks eight years in business with record growth

National Mortgage Professional
Mar 27, 2009

eLynx adds Knowledge-based authentication to ExpediteMortgagePress.comeLynx, Expedite, electronic transactions, American Capital, Knowledge-Based Authentication, KBA, risk mitigation eLynx, a portfolio company of American Capital and provider of the most widely used secure electronic document collaboration and distribution network for the financial services industry, has announced the availability of Knowledge-Based Authentication (KBA) for electronic signatures and transactions. The solution enables lenders and financial institutions to authenticate borrowers and consumers for high value transactions. "Lenders are finding that they can provide better service and reduce costs by enabling customers to conduct business online," said Sharon Matthews, eLynx president and CEO. "Certain transactions, such as opening a new account or line of credit, require lenders to validate that the person on the other end is who he or she claims to be. eLynx strengthens multiple methods of user authentication by integrating KBA into our multi-channel document distribution platform, expedite." The KBA service pulls information from multiple credit and non-credit data sources to meet the specific requirements of the institution through flexible configuration options. Clients can select the categories used to determine an authentication question, the number of authentication questions presented to the user and the number of correct answers required for a "pass" score. In addition, different questions and answers can be generated each time the system is accessed by the user. "The KBA option adds one more risk mitigation layer for conducting financial transactions over the internet. We are currently working with customers who operate in the B2C market to help them optimize their loan fulfillment process. The KBA option will play a key role in enabling the loan to be signed electronically over the internet," said Matthews. eLynx provides a complete document distribution and collaboration solution with multiple options and reporting. The delivery takes place securely through the eLynx expedite platform. Lenders can capture borrower consent and signature on the delivery and audit trails provide a history of the entire process. All eLynx solutions have integrated paper fulfillment with the ability to automatically deliver a paper copy when the electronic channel is not an option. Lenders can also take advantage of the enhanced audit trail for paper delivery. All eLynx document collaboration and distribution services are offered on-demand, allowing clients to take advantage of the new authentication capabilities with minimal impact on their current implementation. For more information, visit www.elynx.com.
Published
Mar 27, 2009
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