Equity Services, Inc. Leverages Docupace ePACSĀ® Solution for Straight-through Processing

Dec 01, 2011 (03:12 PM EST)

LOS ANGELES, Dec. 1, 2011 /PRNewswire/ -- Equity Services, Inc. (ESI), headquartered in Montpelier, Vermont and an affiliate of National Life Insurance Company, has recently chosen Docupace Technologies to provide straight-through, streamlined processing capabilities for its broker-dealer business.

"Our representatives have been asking for a paperless office solution, and we were actively seeking ways to streamline our business and improve back office efficiency," said Lance Reihl, President of Equity Services, Inc. "We went through a process of defining our own firm's needs, and then went to the marketplace in search of a solution. We were surprised to find that most of the available solutions only addressed a portion of our needs. ePACS, provided by Docupace, was the most complete solution in the marketplace."

In early November, ESI implemented Docupace ePACS in the home office and is currently in the process of implementing the new system in several Pilot Offices. ePACS, the next generation of the Docupace system, is the industry's first web-based electronic paperless application and check service. It transparently combines document imaging, document and check scanning, signatures, Quik! Forms, Check21 processing, and workflow automation, allowing all parties to communicate electronically and streamlining the business process.  

"To date, the implementation process has surpassed our expectations.  The Docupace team has been very responsive and nimble," said Heather Lyon, SVP of Operations for ESI. "The Docupace team spent several days in our office, and during several working sessions, configured their core workflows to ESI's business model. Docupace has extensive industry experience which has allowed them to anticipate and quickly solution our processing requests.  ESI is excited to bring this forward looking solution to its registered representatives."

Equity Services clears through National Financial Services, LLC ("NFS") and through partnerships established between Docupace and NFS, many of the business processing steps will be electronically workflow-enabled. This means shortened business processing times and less paper.  ESI's direct check and application business will also be processed through Docupace.  Docupace is supporting the field rollout with onsite and web-based training.

The implementation of Docupace's ePACS® solution ensures that ESI has the technology and resources necessary as the financial services industry continues moving toward electronic acceptance of direct mutual fund applications.   The firm expects the Docupace system to be implemented and operational in the field offices by the third quarter 2012.

About Equity Services, Inc. ("ESI")

Equity Services, Inc., Member FINRA/SIPC, is a broker/dealer and registered investment adviser affiliate of National Life Insurance Company, Montpelier, VT. Docupace and NFS are independent of ESI.

About Docupace Technologies, Inc.

Docupace, a privately-held company based in Los Angeles, is an industry leader in delivering SEC/FINRA compliant paperless processing systems to financial services firms. With ePACS®, Docupace allows broker-dealers to connect systems, documents, and data seamlessly for cost savings, efficiency, and overall better business. Over 300 clients, including some of the largest broker-dealers in the marketplace, are using Docupace and the ePACS solution to streamline their business workflow, store hundreds of millions of documents, and make efficient straight-through processing a reality. For more information, visit


SOURCE Docupace Technologies, Inc.