Doxim Inc, the leading provider of cloud-based Enterprise Content Management and advanced document processing solutions for Financial Service Providers, today announced that it has acquired Arius Software, of Kitchener-Waterloo, Ontario. Arius is the leading provider of account opening applications to the North American financial services sector.
Doxim has spent the last decade helping financial service providers to streamline creation, management, storage and access of customer documents such as statements, confirms, loans and tax forms. Adding Arius OpenAdvantage®, to this mix is a natural extension to Doxim’s current product offering. Arius OpenAdvantage provides a front office solution that greatly streamlines the account opening process – a key area where consistent compliance with stringent regulatory mandates is paramount.
The addition of OpenAdvantage to the Doxim product portfolio further expands Doxim’s total offering for financial service providers, encompassing front office applications, document processing and enterprise content management (see diagram below)
Arius OpenAdvantage is built on Arius’s highly flexible and scalable multi-tenant software platform. This can be quickly and easily configured to deliver other key applications to address workflow intensive front office processes in the Financial Service Provider marketplace. Doxim will leverage its extensive cloud computing experience and existing datacenter infrastructure to enable the delivery of OpenAdvantage as a cloud offering. This will expand the addressable market for OpenAdvantage, to encompass customers that prefer the ease of deployment that cloud solutions offer.
“For many financial service providers, the account opening process is overly manual, time consuming and error prone and our customers have been asking us to add account opening to our compliance centric product portfolio. This acquisition helps us respond to this demand, with the best account opening application in the marketplace. We are proud to be joining two Canadian technology leaders together, with an expanded product offering that helps our financial services clients further streamline their compliance processes. We identify many synergies across all areas of our two companies and are very excited to have the entire Arius team join the Doxim family.”
Chris Rasmussen, President and CEO, Doxim
“This acquisition is great news for everyone at Arius. Both companies have brokerage and wealth management clients. Doxim also has a substantial presence in the Banking and Credit Union marketplace as well. This creates many opportunities to expand the footprint of our account opening solution in the financial services sector. Additionally, Doxim’s existing compliance centric product offering gives us access to many new solutions that will be of great interest to our current client base. Becoming part of a much larger organization will also allow us to more rapidly expand our front office solutions into other key areas that our clients are already asking us to help them with.”
Adam Zimmer, President, Arius Software
Doxim builds and delivers cloud-based Enterprise Content Management and advanced document processing solutions for Financial Service Providers and their outsourcing partners. These solutions are used by thousands of clients in banking, credit unions, wealth management and investment brokerage to create, deliver and manage business critical documents and content more efficiently and cost effectively. Doxim solutions help these organizations to improve client communications, streamline document access and meet the stringent compliance requirements associated with transactional document output and delivery. Doxim is an SSAE16/CSAE 3416 compliant organization. Find out more at doximstaging.wpengine.com.
About Arius Software
Arius Software is a leading provider of account opening and document management solutions for financial services. The flagship product, Arius OpenAdvantage®, enables wealth management firms to attract new customers, increase operational efficiency and reduce costs by creating a superior personalized account opening experience. Arius has been chosen as the Enterprise Account Opening platform and professional services partner for many leading North American financial services firms. Arius Software is a privately held software company based in Kitchener, Ontario. Visit www.ariussoftware.com for more information.
Sean O’Donovan, V.P. Marketing, Doxim Inc.
[email protected], +1(416) 840-9910