Mortgage Automation Solution Speeds Application Processing and Time to Revenue, Provides Analytics and Visualization for Better Decision Making and Improves Compliance
IRVINE, Calif.--(BUSINESS WIRE)-- Kofax® Limited (NASDAQ: KFX)(LSE: KFX), a leading provider of smart process applications for the business critical First Mile™ of customer interactions, today announced that a large Australian bank has chosen Kofax software to automate the processing of mortgage applications and ancillary documents, and to redact credit card numbers from bank statements to meet Payment Card Industry Data Security Standard (PCI DSS) requirements. The software includes Kofax Capture™, Kofax Transformation Modules™, Kofax Import ConnectorTM and Kofax Analytics for Capture™.
“We worked closely with a Kofax partner to transform and automate the information intensive processes at this regional bank, which previously relied upon time consuming and expensive manual labor,” said Howard Dratler, Executive Vice President of Field Operations at Kofax. “The bank has benefited from significantly reduced labor costs, improved customer responsiveness, PCI DSS compliance, and actionable insights stemming from our analytics and visualization capabilities. This lender has truly made its First Mile smarter.”
The sale included approximately $1 million in software license revenue and over $200,000 in maintenance and other services fees. It closed during the fourth quarter of Kofax’s fiscal year ended June 30, 2014.
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 Kofax Capture add-ons that automate the classification and data extraction of different document types, transforming them into structured electronic information, ready for delivery into business systems and processes.
Kofax Import Connector works with Kofax Capture to capture email, fax and other documents received in file shares or through web services as soon as they enter the organization.
Kofax Analytics for Capture provides optimized out-of-the-box dashboards that elevate visibility into the effectiveness of a capture solution.
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 Import Connector and Kofax Analytics for Capture are trademarks of Kofax Limited.
Source: Kofax Limited