Digital Signature Solution from ARX Advances Transactions at Praxis Group

San Francisco, California August 27, 2008

Praxis Group, a multi-disciplinary advisory practice providing an integrated range of accounting, wealth management, and estate planning services to private and corporate clients, have implemented the CoSign digital signature (standard electronic signature) solution in order to reinforce the security of their workflow and financial transactions.

Praxis Group's initial transaction process consisted of the company's associates utilizing paper documentation to communicate financial transaction requests to banking institutions. After internal review, the organization decided that it required a workflow process that eliminated the possibility of document forgery and allowed the transaction process to remain an electronic one. Praxis Group chose to implement CoSign digital signatures, which allow them to digitally sign and seal their documentation, eliminating the potential for paper-based forgery. To further strengthen their workflow process, Praxis Group coupled CoSign with a biometrics system that verifies each associate before they are authorized to handle a financial transaction.

Simon Thornton, Managing Partner at Praxis Group, explained, "Through our implementation of CoSign, we've found a digital signature solution that provides us with both risk mitigation and audit trails, and helps us maintain a paperless workflow."

Since the dual deployment of CoSign and a biometrics system, all financial transactions that Praxis Group handles are done in an optimally secure manner. After verification through the biometrics system, associates digitally sign transaction approval PDFs with CoSign. The CoSign digital signature seals the document, and it's sent to the banking institution via an electronic delivery system. Upon completion of a transaction, the paperless documentation is then managed in an Open Text document management system. CoSign's digital signature solution allows Praxis Group to keep their documentation paperless, and it also works seamlessly with their biometrics system, assisting the organization to achieve the security standards they strive to maintain.

"Praxis Group's implementation of CoSign is a poignant example of how digital signatures can serve as a significant asset in the financial industry's pursuit of forgery and theft prevention," said Ilan Patashnik, Chief Operational Officer at ARX.

The Praxis Group offers a full range of professional services including accounting, auditing, trust and company administration, fund administration and taxation, to private individuals and international corporate clients. For more information on the Praxis Group, please visit www.praxisgroup.com.