Tyler Technologies Announces Installation of First Electronic Recording System In Washington State |
DALLAS, Jun 7, 2001 -- Tyler Technologies, Inc. (NYSE: TYL) announced today the installation of the first county electronic recording system in the State of Washington. Tyler's Eagle Computer Systems (ECS) division has integrated its CRIS+plus recording and imaging system installed in Thurston County, Washington with Ingeo Systems' Electronic Recording System. Thurston County is located at the southern end of Puget Sound and includes the city of Olympia. Thurston County has a population of over 200,000 and is among the fastest growing counties in the Pacific Northwest.
Tyler's CRIS+plus system is used by county governments to receipt, index and image land and other official records, including vital statistics, marriages and UCC filings. The new e-recording system allows documents, primarily those filed by the title, mortgage and banking industries, to be submitted digitally and recorded electronically in county government recording offices. Kim Wyman, Thurston County Auditor, announced that the County's recording office is now accepting and recording digital reconveyance (lien release) documents as part of an electronic recording pilot project.
As a member of the Washington Electronic Recording State Task Force -- created by the Washington State Association of County Auditors -- Thurston County undertook an assignment to investigate electronic recording solutions. Thurston saw electronic recording as a key automation opportunity, allowing the recording office to record more documents with less time and effort. The increased efficiency will save time and money for both the county and its constituents. "In our ongoing efforts to efficiently serve our customers, we have always been on the forefront of technology," said Wyman. "We saw electronic recording as a great step forward, allowing us to process the constantly increasing flow of documents more efficiently and at a lower cost."
Tyler's ECS division worked with Thurston County staff and Ingeo, the provider of the electronic recording system, to develop the interface to CRIS+plus, the County's existing recording, imaging and archiving system from ECS. The interface allows documents to flow seamlessly from origination to recording to archives. The electronic documents are signed, then endorsed using digital certificates issued by Digital Signature Trust Co. Digital notary certificates are issued through ARCANVS, the leading provider of identity-proofing processes and technology needed for legally binding and high-value Internet transactions. The result is an electronic record that is easier to prepare, faster to submit and more efficient to process, yet still retains the security, trust and legal enforceability of a paper document.
The new electronic recording system follows the same processes as traditional recording, without using a single piece of paper. Three title companies are participating in the pilot project. The title companies prepare the digital documents using the ePrepare web-based service. The documents are digitally signed and notarized and then transferred electronically to the county's eRecord server. Once received, the documents are electronically examined, fees are assessed, and the documents are endorsed, automatically. The recorded documents are returned to the originator along with an electronic receipt. Tyler's CRIS+plus recording and imaging system is fully integrated with Ingeo's Electronic Recording System so the recorded data is automatically indexed and archived without additional human intervention. The entire process can now be completed in seconds.
"We are excited that our partnership with Ingeo and Thurston County has produced the first electronic county recording system in Washington," commented Allen Stewart, President of Tyler Technologies' ECS division. "We look forward to implementing e-recording capability throughout our client base of over 120 CRIS+plus customers and to strengthening our position as a national leader in providing document recording solutions for local governments."
To celebrate the success of the new e-recording system, Thurston County is holding an open house and press conference at 10:00 a.m. on June 7, 2001, in the Thurston County Auditor's Recording Office, located at 2000 Lakeridge Drive SW in Olympia, Washington. Participants will discuss the technology and get a first-hand look at the e-recording process, followed by a question and answer session.
About Ingeo
Ingeo is a leader in the electronic document recording industry. The Utah-based company helps businesses and government agencies do business with digital documents, providing tools and infrastructure to automate the filing and recording of real estate and other legal records. Ingeo's Electronic Recording System saves time and money by reducing processing time from days to seconds, virtually eliminating document backlogs. More information about Ingeo and its products can be found at www.ingeo.com.
About Tyler Technologies
Based in Dallas, Tyler Technologies is a leading provider of end-to-end information management solutions and e-government services to local governments. Tyler partners with clients to make local government more accessible to the public, more responsive to needs of citizens, and more efficient. Tyler's client base includes nearly 6,000 local government offices in 49 states, Canada and Puerto Rico. Tyler's ECS division is a national leader in document recording systems for local government, with over 120 client/server recording and imaging system installations. More information about Tyler Technologies can be found on the World Wide Web at www.tylertechnologies.com.
Tyler Technologies, Inc. has included in this press release "forward- looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 concerning its business and operations. Tyler Technologies expressly disclaims any obligation to release publicly any updates or revisions to these forward-looking statements to reflect any change in its expectations. These expectations and the related statements are inherently subject to risks and uncertainties that could cause actual results to differ materially from those set forth in, contemplated by, or underlying the forward-looking statements. The risks and uncertainties which forward-looking statements are subject to include, but are not limited to, changes in competition, changes in general economic conditions, changes in the budgets and regulatory environments of the Company's customers, risks associated with the development of new products and the enhancement of existing products, the ability to attract and retain qualified personnel, and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission.
SOURCE: Tyler Technologies, Inc.
CONTACT: Brian K. Miller, Vice President - Finance of Tyler Technologies, Inc., +1-214-547-4000, or bmiller@tylertechnologies.com
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Jun 07, 2001 |
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