RCS Capital Corporation has made a significant investment in Docupace Technologies, a provider of electronic processing technology for financial institutions and the wealth management industry.
Following the transaction, RCAP will be a majority shareholder in Docupace.
Michael Pinsker will remain president and chief executive of Docupace and he and the Docupace management team will continue to lead the day-to-day operations of the business.
RCAP’s investment comes on the heels of Docupace’s recent executive management team expansion, reaching an industry milestone of servicing more than 500 financial industry clients and successfully implementing Straight-Through-Processing (STP) with several leading financial institutions.
“Through the synergies created by partnering with RCAP, we will be able to expedite our current growth plans as we change the way the financial services industry does business. We expect to immediately grow the company by adding new products, enhancing our ePACS product and continuing to expand our STP capabilities,” says Pinsker. “RCAP is the right strategic partner who can help us grow our market share within the financial services industry and extend our service offerings to new industries and to other sectors within the financial industry.”
“Docupace is leading the financial services industry’s evolution to secure, end-to-end electronic processing, which enables broker-dealers to streamline their workflow with a fully integrated document management technology solution,” says Michael Weil, president of RCAP. “We are excited by the value Docupace delivers to industry participants, including our own network of broker-dealers, by increasing efficiency, reducing operational costs and enhancing compliance oversight. We believe Docupace has tremendous growth opportunities within and outside of the financial services industry.”
Docupace connects and streamlines the entire process from the client and advisor, to the office of supervisory jurisdiction (OSJ), RIA or broker/dealer to their clearing firm, custodian or product sponsor by using e-forms, e-signature, e-check processing, supervisory workflows, forms bundling and data validation.
