PowerBand Solutions (TSXV: PBX) continues to develop its virtual transaction platform, this morning announcing that it has partnered with Syngrafii Inc to allow consumers to safely and quickly sign automotive leases and other documents digitally on the PowerBan platform. The launch of the new e-signature technology will begin with PowerBand’s DRIVRZ Canada and DRIVRZ US platforms.
The significant of the Syngrafii electronic signature program is that it allows for a number of options in terms of signatures. The technology allows for wet signatures, complete auditing of signatures, and most significantly, video recording during a signature to ensure the security of the transaction. The Canadian-made technology will allow for the PowerBand platform to enhance security while simplifying the process of buying, selling, leasing, trading, and financing a vehicle online for consumers.
The technology essentially enables the company to virtually execute the documents required to purchase a vehicle in real time.
The technology will first be rolled out Canadians before becoming available for its US counterpart. The agreement is for an initial period of one year, with automatic renewal options. A standard commercial fee will be paid for each transaction completed using the technology. DRIVRZ is expected to be soon made available in Canada, the US and global markets.
PowerBand Solutions last traded at $0.20 on the TSX Venture.
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