Leading Financial Services Company Selects Kofax for Enterprise Wide Capture
More than 15 Billion Documents Will be Processed Annually
IRVINE, Calif.–(BUSINESS WIRE)– Kofax plc (LSE: KFX), the leading provider of document driven business process automation solutions, today announced it has been selected to provide a leading financial services company with an enterprise wide capture solution. The value of the contract to Kofax exceeds $800,000.
The customer, a provider of commercial and retail banking, investment and mortgage services with more than $30 billion in assets, will implement Kofax Capture and Kofax Transformation Modules to process more than 15 million loan, mortgage, securities and trust related documents it receives annually. The documents will be scanned and resulting images automatically separated and classified prior to the critical business information being extracted. All images and information will then be routed to a repository for easy access, resulting in greater operational efficiencies that enable the organization to optimize staff resources and reduce manual tasks.
„Financial services firms relying on complex, document intensive processes can enjoy tremendous benefits by accelerating their critical business workflows with capture software,? said Alan Kerr, Executive Vice President of Field Operations at Kofax. „Kofax customers can leverage our solutions to reduce both the costs and errors associated with manual, paper intensive tasks, shipping and storage and enjoy a proven ROI in 12 to 18 months.? 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. This can significantly reduce retrieval costs while improving regulatory and compliance efforts. Kofax Capture is flexible and scalable, enabling customers to define where and how images are captured and indexed, whether in a home office, remote branch or back office data center.
Kofax Transformation Modules adds document and form classification, page separation, challenging data extraction and validation capabilities to Kofax Capture, and provides robust scan-to-process applications. By automating what were previously labor intensive, error prone and time consuming tasks, it significantly reduces labor costs, improves information quality and accelerates business processes.
About Kofax
Kofax plc (LSE: KFX) is the leading provider of document driven business process automation solutions. For more than 20 years, Kofax has provided award winning solutions that streamline the flow of information throughout an organization by managing the capture, transformation and exchange of business critical information arising in paper, fax and electronic formats in a more accurate, timely and cost effective manner. These solutions provide a rapid return on investment to thousands of customers in financial services, government, business process outsourcing, healthcare, supply chain and other markets. Kofax delivers these solutions through its own sales and service organizations, and a global network of more than 700 authorized partners in more than 60 countries throughout the Americas, EMEA and Asia Pacific. For more information, visit www.kofax.com.
„Kofax? is a registered trademark in the US, the EU and other regions. All other trademarks and registered trademarks are the property of their respective owners.
Contacts
Kofax plc
Investor Contact:
Jamie Arnold
Chief Financial Officer
+1 949-783-1473
jamie.arnold@kofax.com
or
Media Contact:
Rob Jensen
Senior Director, Corporate Communications
+1 949-783-1295
rob.jensen@kofax.com