Digital Signature Solution from ARX Advances Transactions at Praxis Group

Alternative Solutions deploys the CoSign® digital signature solution from ARX (Algorithmic Research) at Praxis Group, strengthening security efforts.

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.

About the Praxis Group

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.

CoSign makes it easy to digitally sign transactions, documents, and records by embedding the standard signature technology directly into mainstream business applications. CoSign produces a signature record for every signature it captures. This Portable Signature Format (CoSign PSF™) allows anyone to seamlessly verify and retain proof of identity, intent, and document integrity without costly, complicated, or proprietary software. CoSign keeps your business running smoothly by fully automating and quickly scaling processes at a low cost and with proper controls. Learn more at www.arx.com/products/cosign_moreinfo.php.

About ARX - The Digital Signature Company

ARX (Algorithmic Research) is a global provider of cost-efficient digital signature solutions for industries such as life sciences, healthcare, government, and engineering. ARX engineers and scientists have more than 20 years of experience in security and standard digital signature application. ARX helps businesses secure, streamline, and scale their business processes and transactions with the proper controls required by legislation, regulation, and industry best practice. Visit us at www.arx.com.

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CoSign is a registered trademark and CoSign PSF is a trademark of Algorithmic Research, Ltd. All other trade names and trademarks are the property of their respective holders.

Press Contact:
Edna Kaplan
KOGS Communication
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kaplan@kogspr.com