e-title™ was designed to offer greater efficiency and improved customer service. It was created to replace paper with technology that meets the specific needs of the shipping and logistics community. e-title™ has a set of attributes that is unique in this domain.
PEER TO PEER
e-title™ enables title transfers by using peer-to-peer technology. This eliminates the reliance on costly central registries, reduces the concentration of risk, and ensures that the service provider or national platform maintain operational control over title documents.
e-title™ maintains a neutral position in the market. It is not aligned with any sub-set of the community. The solution provides a common, standardised approach to electronic title documents, enabling interoperation among organisations in the whole community
e-title™ is cost effective for the back office and web portal. The technology can be delivered to trade platforms and applications at a very attractive cost to the end user. In the back office, e-title™ can reduce the costs of creating, transferring and managing the title documents significantly.
e-title™ complements services planned for a service provider or national trade platform, by focusing exclusively on title transfers. The solution does not overlap with the messaging, security or operational services already provided by the service provider or trade infrastructure. It enables value-added extensions that require title document creation and transfer.
EASE OF USE
While paper processing is costly to manage, it is well understood. To overcome resistance to change and keep costs under control, e-title™ has been designed with ease of use as a critical characteristic. This enables rapid integration into applications and portals, and low cost deployment to both the service providers and end users.
A fundamental component of the e-title™ solution is a legal framework that provides contractual validity to title transfers undertaken using the e-title™ technology. This framework is based upon a multi-lateral agreement and includes a mechanism for managing potential disputes between parties involved
Please contact www.electronictitleusergroup.org for more information.