Cegedim and CIC partner for high-security dematerialization
Paris, France, and Redwood Shores, California, July 2, 2012 – Cegedim Global Payments (“Cegedim”; EURONEXT: CGM), a specialist in global payment systems and dematerialization, or the removal of paper-based processes, and Communication Intelligence Corporation (“CIC”; OTCQB: CICI), a leading supplier of electronic signature solutions and the recognized leader in biometric signature verification, have partnered to help enterprises migrate their systems to the Single Euro Payments Area (“SEPA”), the European Union’s payment integration initiative for simplification and harmonization of member state money transfer systems.
Cegedim’s innovative MA€A software suite, which complies both with SEPA requirements and the European Commission’s Payment Services Directive, and which allows enterprises to maintain their existing subscription and collection processes with minimum impact on their IT infrastructures, coupled with CIC’s electronic signature technology represents an elegant and easy to integrate solution that delivers full dematerialization for enterprises.
Initially focused on direct debits, which have become the second most widely used payment method in Europe (after bank cards), with 20 billion transactions in 2010, of which 3.4 billion in France, MA€A provides a complete solution for the management of SEPA electronic mandates (“eMandates”), or authorizations, and related payment transactions. CIC’s electronic signature solution is accessed for completion of a valid eMandate and is available now for immediate deployment through MA€A as a high security service bureau that completes each eMandate with a separate and valid electronic signature.
“With the European Parliament’s recently set deadline of February 1, 2014, for full migration to SEPA, it is imperative that enterprises commence the migration process immediately,” stated Jean-Marie Simon, Director of Cegedim Global Payments. “Cegedim anticipated this accelerated schedule and, as one of the only available SEPA compliant platforms, has already started to work on a number of MA€A implementations.”
“Electronic signatures represent a cornerstone of the drive towards dematerialization and of the proven cost savings afforded by straight-through electronic processing,” continued Mr. Simon. “We conducted an extensive search for the ideal electronic signature provider to partner with and chose Silicon Valley-based CIC due to its commitment to high-security electronic solutions and its leadership position in biometric signature verification. CIC has a long and successful track record in solving the high volume electronic signature requirements for several leading financial institution and insurance carrier enterprises, for which signature