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Short Take: BofA to expedite Cisco's lease agreements

Beginning this fall, Bank of America will issue digital certificates on smart cards to customers of Cisco Systems Capital, as part of an agreement that the companies will announce tomorrow. Cisco Systems Capital, a wholly owned subsidiary of networking company Cisco Systems and leases out Cisco equipment, expects the new services to substantially cut the time needed to complete lease agreements with its customers. Using the Bank of America system, the company and its customers will exchange signed lease agreements over the Internet. Digital certificates help ensure the security of the transactions and verify the sending and receiving parties.

    Beginning this fall, Bank of America will issue digital certificates on smart cards to customers of Cisco Systems Capital, as part of an agreement that the companies will announce tomorrow. Cisco Systems Capital, a wholly owned subsidiary of networking company Cisco Systems and leases out Cisco equipment, expects the new services to substantially cut the time needed to complete lease agreements with its customers. Using the Bank of America system, the company and its customers will exchange signed lease agreements over the Internet. Digital certificates help ensure the security of the transactions and verify the sending and receiving parties.