Agreement Express Partners With Frontier Capital to Accelerate Vision for Digital Onboarding


April 12, 2018

This morning we announced a significant growth equity investment in Agreement Express made by Frontier Capital. The investment will aid in supporting and continuing our accelerated growth through the expansion of sales and marketing operations, further technology innovation, and an extended talent base to meet the demand of technology-first financial services organizations.

The Importance of Our Partnership With Frontier Capital

With the technology landscape moving so quickly, it is the mission of companies like Agreement Express to elevate the standards of how things are done today, and continually be innovating how things will be done tomorrow. The partnership with Frontier Capital will allow us to take that next step as a company, and be a global leader in our category to provide critical solutions to help the industry solve some of the biggest challenges of client onboarding.

The Time is Now for Digital Onboarding

Technology is shifting faster than ever before. Worldwide IT spending is projected to total $3.7 trillion in 2018, according to Gartner. In financial services, spending on technology is growing with budgets over well over $3 billion, and increased share of spend devoted to transformative projects accounting for as high as 30%. Every day, new technologies are being created with the promise to make our lives easier, therefore the pressure is on for companies to improve how they deliver if they want to grow, remain competitive and meet the ever-evolving needs of consumers both today and tomorrow. The Financial Services industry is feeling the pressure of this digital disruption and finds itself caught in a perfect storm. Heightened customer expectations, a complex and evolving regulatory landscape, and relentless disruption of digital-first fintech challengers creates new demands, new rules, and new possibilities for financial services organizations of all sizes. With customer onboarding serving as the critical first step in the digital customer experience and a pivotal opportunity to make a first impression, financial services organizations are investing in technology that simplifies the process to drive business velocity, increased ecosystem connectivity, and take advantage of new business models.  Going digital is do or die.

Fueled for Growth

In the past three years, Agreement Express has seen a steady growth of 161% in revenue. More recently in the year ending December 31, 2017, the company has increased net new customer acquisition in payments, wealth management and insurance by 550% year over year.  In 2017 alone the company’s employee base expanded with a 91% increase in headcount from the previous year. Ranking number 194 on the 2017 PROFIT 500 Fastest-Growing Companies in Canada, Agreement Express is poised for accelerated growth. The need to develop solutions for the financial services industry will only continue as technology and consumer needs evolve. This infusion of capital will allow us to make the necessary investments in our company that will ensure we are leading the charge for our customers in their ongoing pursuit of digital transformation.

Client Experience At the Heart of What We Do

Putting the client experience first and foremost, Agreement Express is focused on delivering an enhanced experience for wealth management, payments, and insurance providers that is simple, connected, and intelligent. Consider the stats:

  • Financial institutions can invest anywhere from a few hundred dollars to more than $20,000 for each client they onboard.1
  • The average number of individual, unique interactions between a bank and customer in the onboarding process, as both sides of the relationship strive to get all the documentation in place is eight.2 The average advisor spends upwards of 80% of his or her time on non-revenue generating, paper-driven activities3.
  • It can take over 40 days for a wealth management firm to onboard a high net-worth client.4
  • Merchant onboarding in the payments industry can take 3 to 5 business days with a traditional acquirer but only 5 minutes with disruptive digital payment processors.

Agreement Express removes the complexity from the first touchpoint of the customer lifecycle. Unlike point solutions that don’t offer a complete solution and BPM software that is costly and complex, the Agreement Express platform offers an agile SaaS solution that is flexible to build the optimal onboarding path for your needs of today and easily refined for the possibilities of tomorrow.

From first interaction, AEX delivers a consistent experience using integrated digital technology that ensures convenience and simplicity at every juncture. Paper-based processes are a thing of the past with native digitization of the full onboarding process. In a single platform, you have the tools to offer clients a unified digital onboarding experience, while moving transactions through appropriate workflows, and automated risk decisioning including KYC and AML, and compliance controls in the back-end. As the transactional data is collected and client interactions are built, Agreement Express aggregates data for the ultimate view into transactions, presented through powerful visualizations in real-time to enable quick decisions into resourcing, operational efficiencies, revenue opportunities and more.  Clients can be onboarded in minutes instead of weeks.  Productivity can be increased by 96%, freeing financial services employees to focus on higher value revenue generating and customer-oriented activities. Time to revenue is reduced from weeks to as little as 2 hours. And the benefits don’t stop there.

Our Partnership With Frontier Capital

We are excited for our partnership with Frontier as we continue our journey of being a global leader in providing critical solutions to the financial industry to deliver a streamlined, consistent and convenient experience.

1 Source:  The Financial Brand: Seven Steps to Improve Customer Onboarding
2 Source:  “KYC:  Knowing Your Onboarding Costs”,
3 Source: “The Human Dividend: Taking Advantage of Digital Disruption to Fuel Next-Generation Wealth Management,” Accenture, 2017
4 Source: “Towards True KYC: Technological Innovations in Client Due Diligence” ClearView Financial Media