Redwood Shores, CA, December 29, 2008 – Communication
Intelligence Corporation (“CIC”) (OTC BB: CICI), a leading supplier of
electronic signature solutions for business process automation in the financial
industry and the recognized leader in biometric signature verification,
announced today it has been named to Forrester Research’s “Hot Banking Tech
Companies To Watch In 2009” Report dated December 2008.
The Forrester report states in part:
“Communications Intelligence Corporation, or “CIC” (www.cic.com), provides
legally binding and compliant electronic signature solutions targeted at the
contract execution needs of banks, insurers, and public sector markets…CIC has
struck a partnership with CSC that, while complementing a number of CSC’s core
banking application offerings, is being delivered as one of the tools that CSC
is providing to facilitate mortgage loan modifications and workouts and improve
loss mitigation process efficiency…CIC’s SaaS-based electronic signature
solutions help speed up a very lengthy and painful process that can often take
as long as 90 days, reducing the time to less than three days to say nothing of
borrower stress levels.
Why it’s important. At the end of the third quarter of 2008,
the seasonally adjusted total delinquency rate was the highest recorded by the
Mortgage Bankers Association…As the economy further deteriorates, the number of
foreclosures will increase, along with the call for more regulation to move more
borrowers through the process faster and more fairly…There have been few
technology vendors that have targeted the mortgage workout market, despite the
obvious need and the far-reaching economic consequences if the industry
maintains its ‘business as usual’ approach. Partnerships such as the one struck
by CIC and CSC bring technology that addresses a complex and very real economic
and social problem.”
CIC’s Chairman & CEO, Guido DiGregorio stated: “We are pleased to be recognized
for our contribution to automating the mortgage workout process. Partnering with
CSC to integrate our technologies to deliver a SaaS-based electronic signature
solution reduces a very lengthy and painful process involving many parties, that
can often take several months, to less than three days alleviating borrower
stress along with significant expense reductions. This product offering reflects
the timeliness and benefits of our technology coupled with our ability to
effectively and efficiently integrate our technology with selected partner
offerings to significantly enhance the value of the end solution.”
For the full Report including an overview of the financial market factors
driving the need for CIC’s solutions, click on the link below:
Forrester Report
About CIC
Communication Intelligence Corporation (“CIC”) is a leading supplier of
electronic signature solutions for business process automation in the Financial
Industry and the recognized leader in biometric signature verification. CIC’s
products enable companies to achieve truly paperless work flow in their
eBusiness processes by enabling them with “The Power to Sign Online®” with
multiple signature technologies across virtually all applications in SaaS and
fully deployed delivery models.
Industry leaders such as AEGON, AIG, Charles Schwab, Prudential, Nationwide
(UK), Snap-on Credit and Wells Fargo chose CIC’s products to meet their needs.
CIC has deployments with over 400 channel partners and enterprises worldwide
representing hundreds of thousands of users, with over 500 million electronic
signatures captured, eliminating the need for over a billion pieces of paper.
CIC sells directly to enterprises and through system integrators, channel
partners and OEMs. CIC is headquartered in Redwood Shores, California and has a
joint venture, CICC, in Nanjing, China. For more information, please visit our
website at http://www.cic.com
Forward Looking Statement
Certain statements contained in this press release, including without
limitation, statements containing the words “believes”, “anticipates”, “hopes”,
“intends”, “expects”, and other words of similar import, constitute “forward
looking” statements within the meaning of the Private Litigation Reform Act of
1995. Such statements involve known and unknown risks, uncertainties and other
factors which may cause actual events to differ materially from expectations.
Such factors include the following (1) technological, engineering, quality
control or other circumstances which could delay the sale or shipment of
products containing the Company’s technology; (2) economic, business, market and
competitive conditions in the software industry and technological innovations
which could affect the Company’s business; (3) the Company’s inability to
protect its trade secrets or other proprietary rights, operate without
infringing upon the proprietary rights of others or prevent others from
infringing on the proprietary rights of the Company; and (4) general economic
and business conditions and the availability of sufficient financing.
CIC, its logo, Ceremony, Sign-it and the Power to Sign Online are registered
trademarks. All other trademarks and registered trademarks are the property of
their respective holders.
Contact Information
CIC
Investor Relations & Media Inquiries:
Chantal Eshghipour
650-802-7740
investorrelations@cic.com
