Leading European Financial Institution Invests Over $300,000 in Kofax Solution
09 September 2014 - 5:00PM
Business Wire
Bank Seeks to Improve Information Visibility
and Increase Customer Engagement
Kofax® Limited (NASDAQ and LSE: KFX), a leading provider of
smart process applications for the business critical First Mile™ of
customer interactions, today announced that a leading bank based in
Europe is now using Kofax Capture™, Kofax Transformation Modules™,
Kofax Web Capture™ and Kofax Analytics for Capture™ to transform
its back-office mortgage and accounts payable processes and
front-office customer facing branch processes. The Kofax solution
centralizes and automates the capture of over 10 million consumer
financial documents from more than 800 branch offices which were
previously processed manually, with ineffective optical character
recognition (OCR) products or outsourced to third party
vendors.
The bank selected Kofax for its ability to deliver long term
business value on its journey to improve information visibility by
digitizing information for better access and compliance, and
increase customer intimacy with new levels of customer engagement
such as mobile new customer onboarding. Kofax was also able to
elegantly integrate with the customer’s existing IBM business
process management environment. The customer estimates it will
reduce processing time by at least 50% in less than 24 months with
Kofax.
“Financial institutions operate in a very competitive
environment where relationships with customers are more important
than ever,” commented Howard Dratler, Executive Vice President of
Field Operations at Kofax. “Responsiveness is integral to
maintaining strong relationships, and Kofax enables this bank to
track, review and modify information at any point in the business
process. We are helping this bank thrive in its First Mile of
customer interactions.”
Kofax Capture provides industry leading scan-to-archive
capabilities by scanning documents and forms to create digital
images, extracting index data for retrieval purposes and delivering
the images and associated data to a variety of repositories and
applications.
Kofax Transformation Modules is a set of add-on applications for
Kofax Capture that streamline the transformation of different
document types into structured electronic information, ready for
delivery into business systems and processes.
Kofax Web Capture is a comprehensive toolkit for creating
powerful web-based applications with the ability to view and scan
documents and images.
Kofax Analytics for Capture provides optimized out-of-the-box
dashboards that elevate visibility into the effectiveness of a
capture solution.
The sale, which closed during the fourth quarter of fiscal year
2014, consisted of over $250,000 in software license revenue and
approximately $50,000 in maintenance fees.
About Kofax
Kofax is a leading provider of smart process applications for
the business critical First Mile of customer interactions. These
begin with an organization’s systems of engagement, which generate
real time, information intensive communications from customers, and
provide an essential connection to their systems of record, which
are typically large scale, rigid enterprise applications and
repositories not easily adapted to more contemporary technology.
Success in the First Mile can dramatically improve an
organization’s customer experience and greatly reduce operating
costs, thus driving increased competitiveness, growth and
profitability. Kofax software and solutions provide a rapid return
on investment to more than 20,000 customers in financial services,
insurance, government, healthcare, business process outsourcing and
other markets. Kofax delivers these through its own sales and
service organization, and a global network of more than 800
authorized partners in more than 75 countries throughout the
Americas, EMEA and Asia Pacific. For more information, visit
kofax.com.
© 2014 Kofax Limited. Kofax is a registered trademark and First
Mile, Kofax Capture, Kofax Transformation Modules, Kofax Web
Capture and Kofax Analytics for Capture are trademarks of Kofax
Limited. All other registered trademarks and trademarks are the
property of their respective owners.
Source: Kofax
Media:KofaxLaura Brandlin, +1 949-783-1545Director,
CommunicationsLaura.brandlin@kofax.comorInvestors:MKR Group
Inc.Todd Kehrli, +1 323-468-2300kfx@mkr-group.comorFTI
ConsultingChris Lane, +44 (0) 20 3727
1000kofax@fticonsulting.com
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