What Ontario Systems does

Ontario Systems, operating commercially as Finvi since a 2023 corporate rebrand, is a US-based enterprise software provider specializing in collections and revenue cycle management (RCM) technology. Founded in 1976 and headquartered in Muncie, Indiana, the company has built a 45-plus year presence in the accounts receivable management (ARM) industry and has expanded into healthcare revenue cycle management. Its product portfolio is organized as a platform-plus-products architecture across four core offerings: Velosidy serves third-party collection agencies with a modern SaaS collections and payments platform; Artiva HCx addresses healthcare providers and outsourcers with centralized RCM workflow technology; Katabat targets first-party lenders, banks, and fintech companies with collections and recovery software; and Simplicity extends the platform downmarket to small businesses and startup collection agencies. Underlying capabilities include RPA-based automated workflows, AI-driven account segmentation and prioritization, integrated payments, configurable workflows supporting early-out to bad debt strategies, and real-time analytics dashboards. The company has executed an aggressive acquisition strategy, completing at least six acquisitions between 2016 and 2021, including Columbia Ultimate (2016), Justice Systems (2018), SwervePay (2020), Pairity (2021), Boyce Systems (2021), and Katabat (2021), which collectively expanded the platform into payments, AI for collections, and first-party lender markets.

The company operates a subscription-based SaaS revenue model delivered through an enterprise field sales motion, with pricing that is not publicly disclosed and is quote-based. Go-to-market targets four primary segments—ARM third-party agencies, healthcare providers, healthcare outsourcers/EBOs, and financial institutions—each addressed through dedicated product positioning and industry event participation (HFMA, ACA Fall Forum, Gulf States Collectors Association). The customer base spans thousands of ARM and healthcare clients, with named enterprise logos including Bonneville, Associated Credit Services, and Methodist Health System. Geographic focus is North America (USA-centric), with a strategic partnership with Office Ally extending Artiva HCx through real-time eligibility and claim-status integration. Leadership is led by co-founder and CEO Ron Fauquher, with dedicated executive oversight across payments, engineering, compliance, and legal functions. Ontario Systems is a privately held company with no disclosed parent, public listing, or institutional ownership information in the available data.

Name

Ontario Systems

Legal name

Ontario Systems

Website

https://ontariosystems.com

Company type

Private

Founded year

1976

Operating status

Operating

Headcount range

251–500 employees

Short description

Ontario Systems (dba Finvi) is a US-based enterprise SaaS provider of collections and revenue cycle management platforms serving third-party ARM agencies, healthcare providers, healthcare outsourcers, and first-party lenders across four core products: Velosidy, Artiva HCx, Katabat, and Simplicity.

Ownership category

akta.pro rank

Product category

Revenue Cycle Management Software

NAICS

Software Publishers (513210), Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320)

SIC

Services-Consumer Credit Reporting, Collection Agencies (7320), Services-Computer Programming, Data Processing, Etc. (7370)

akta.pro primary industry

Collections, Recovery & Debt Management Platforms (FSAGAHAI)

akta.pro secondary industry

Bill Pay, Invoicing & Payables Platforms (BPAMAFAF)

Keywords

• Revenue cycle management
• Collections software
• Accounts receivable management
• Healthcare revenue cycle
• Debt collection platform

Headquarters

HQ city

Muncie

HQ country

United States

HQ region

North America

Markets served

GTM type

B2B

Offering type

Software

Cost components

Personnel, Technology or R&D, Marketing or Sales, Operations, Infrastructure

Revenue model

1. Software Platform Subscriptions: SaaS-based collections and revenue cycle management platforms delivered on subscription basis for collections agencies, healthcare organizations, and financial institutions.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels5 records

Core offering

Ontario Systems, operating as Finvi, develops and sells cloud-based SaaS platforms for accounts receivable management and healthcare revenue cycle management. Its portfolio includes Velosidy for third-party collection agencies, Artiva HCx for healthcare providers, outsourcers and EBOs, Katabat for first-party lenders such as banks and Fintechs, and Simplicity for small-business and startup collection agencies, all embedding AI-driven segmentation, RPA workflow automation, integrated payments, and compliance tooling.

Product overview

Finvi (formerly Ontario Systems) is a premier provider of enterprise collections and revenue cycle management technologies organized as a platform-plus-products architecture. The portfolio consists of four core products: Velosidy serves third-party collection agencies; Artiva HCx addresses healthcare revenue cycle management for providers and outsourcers; Katabat targets first-party lenders and financial institutions; and Simplicity supports small businesses and startup collection agencies. The company has evolved through acquisitions including Katabat (2021) to expand into first-party collections, building on prior purchases in electronic payments and AI for collections. All products leverage shared capabilities in AI-driven automation, integrated payments, and analytics to help clients generate more revenue at reduced cost.

Differentiator

Problem solved

Functional benefit

Products and services

• Velosidy Next-generation SaaS-based collections and payments platform purpose-built for third-party collection agencies. Combines intelligent automation, AI-driven segmentation insights, integrated payments, and a modern SaaS foundation to improve agent productivity, reduce cost to collect, minimize operational risk, and accelerate payments and revenue recovery.
• Artiva HCx Revenue cycle management platform for healthcare organizations that supports providers, outsource collection agencies, and extended business offices (EBOs). Streamlines operations, improves patient financial engagement, and accelerates cash flow across the full RCM continuum from early-out to bad debt, with workflow automation and performance transparency.
• Katabat Collections and recovery software for first-party lenders, including banks and Fintech companies. Helps improve efficiency, leverage more effective collections strategies, and increase customer satisfaction through AI-driven segmentation and configurable workflows.
• Simplicity Intelligent collections workflow platform designed for small businesses and start-up debt collection agencies. Improves agent productivity, helps collect more from customer accounts, and drives business growth through the same Finvi automation foundation used in Velosidy and Artiva HCx.

Quantifiable outcome

• Automated workflows reduce administrative workload and minimize errors
• +1 more outcomes

Named customers4 records

Segments4 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration1 record

AI capability4 records

Feature5 records

Partnerships

One partnership is on record.

• Office AllycoreTechnology or IntegrationFinvi and Office Ally partnership enables healthcare organizations to confirm patient eligibility in real-time, check claim status and discover unknown insurance within the Artiva HCx platform. This integration streamlines healthcare revenue recovery by connecting eligibility verification and claims management.

Scale indicators1 record

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• FICO: FICO provides analytics, scoring, and decisioning tools used across collections and recovery workflows, including industry-standard credit scores and collection strategy platforms. It is a broad incumbent that overlaps with Finvi's collections optimization use case for banks and lenders but operates across a much wider portfolio.
• Experian: Experian provides consumer credit reporting data, collection analytics, and recovery services that intersect with Finvi's ARM and lender customers. It is a broad incumbent whose data assets complement or compete with Finvi's collection workflow software.
• TransUnion: TransUnion delivers credit reporting, collections analytics, and recovery solutions used by the same ARM and financial institution buyers as Finvi. As a broad incumbent it provides alternative technology stacks for collections strategy and prioritization.
• R1 RCM: R1 RCM is a large healthcare revenue cycle management provider serving hospitals, health systems, and physician groups. It is a broad incumbent that competes with Artiva HCx for enterprise hospital RCM contracts, including outsourced and technology-only deployments.
• Optum (Change Healthcare): Optum/Change Healthcare is one of the largest US healthcare revenue cycle and payments technology providers. It is a broad incumbent competing with Finvi's Artiva HCx across the full healthcare RCM and payments stack at enterprise hospital accounts.

Direct peers

• Waystar: Waystar is a healthcare revenue cycle management cloud platform serving hospitals and health systems with claims management, denial resolution, and patient engagement. It is the closest direct competitor to Finvi's Artiva HCx in the provider RCM segment.
• Availity: Availity operates a healthcare clearinghouse and provider engagement platform for eligibility verification, claims, and prior authorization. Its eligibility/claims functionality overlaps with Finvi's Office Ally integration and Artiva HCx workflow layer.
• RevSpring: RevSpring provides patient engagement, billing, and payments technology to healthcare providers — a direct adjacency to Finvi's Artiva HCx and integrated payments capabilities across the healthcare RCM workflow.
• Latitude Software: Latitude Software (formerly MicroBilt) offers debt collection and recovery software for ARM agencies and lenders. It is a direct peer to Velosidy and Katabat for the third-party and first-party collections technology market.

Emerging players

• Billtrust: Billtrust provides B2B invoicing, billing, and integrated payments platforms. While not in collections, it competes for the same integrated payments wallet that Finvi's SwervePay-derived functionality addresses within Velosidy and Artiva HCx.

Market position

Strengths5 records

Weaknesses4 records

Competitive moat6 records

Key risks5 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/ontario-systems
• Xx.com/ontariosystems

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Subsidiaries4 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A6 records

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Ontario Systems