Ally Financial is adding a digital signing capability to its newly-launched auto finance marketplace, Clearlane.
It allows customers to sign and submit their financing documents online or via mobile devices.
The SmartSign technology from eOriginal will be incorporated into the Clearlane platform in July 2017.
The ability to sign and manage documents digitally is expected to bring additional speed and convenience to Clearlane's auto finance and refinance process by eliminating the need to print, sign and scan documents to complete transactions.
Tim Russi, president of auto finance at Ally, said: “A digital signing capability is a strong addition to Clearlane that will add efficiencies and time savings for both our customers and our network of lenders.
“Being able to sign and submit financing documents online will help alleviate stress and increase customer satisfaction, especially with millennial customers, a large consumer demographic in the automotive market."
Founded in 1996, eOriginal is a leader in digital transaction management solutions, specializing in the post-execution management of financial asset documentation.
Stephen Bisbee, eOriginal's president, said: “Taking paper out of the vehicle buying process improves the customer experience, reduces dealer overhead costs and expedites funding cycles.
“We are excited to work with Ally to integrate our platform into Clearlane's lending marketplace, and help to ensure accurate, fast and secure transactions on the site, which all contribute to a great user experience.”
Ally launched the Clearlane marketplace in April, connecting consumers with more than a dozen finance providers to help finance or refinance their vehicles.