Top Financial Services Group in Southeast Asia Selects Top Image Systems for Trade Finance Solution
October 10 2017 - 8:00AM
Top Image Systems, Ltd. (NASDAQ:TISA), a global provider of
solutions that facilitate digital business, today announced that
one of the largest financial services group in Southeast Asia, with
over 500 branches, has selected Top Image Systems to implement an
automated Trade Finance document processing solution.
The Trade Finance Operations Department receives approximately
10,000 documents daily from various channels. Documents received
require manual data entry for validation through highly
labor-intensive and error-prone manual processes, resulting in
process inefficiencies and increased transaction costs.
The automated TIS Trade Finance document processing solution
automates the capture, recognition and classification of incoming
documents. Utilizing its advanced machine learning technology, the
solution processes a wide range of document templates and
automatically transfers text and handwritten content into the
enterprise trade processing system, thereby improving customer
service levels and reducing transaction costs. The Trade Finance
Operations Department is well positioned to gain better insight to
their customers, accelerate decision-making, and, in the long term,
embrace new emerging technologies such as Blockchain.
“We are encouraged by the traction we are seeing in the Asia
Pacific region for our banking automation solutions that encompass
digital mailroom, cheque processing, trade finance and sanctions
screening,” commented Brendan Reidy, CEO. “Banking and financial
services represent a significant contribution to our overall
revenue mix globally. We are poised to capitalize on the increased
investments that banks and financial services organizations are
making to automate highly labor-intensive processes in order to
reduce transaction costs and improve customer service levels.”
About Top Image Systems
Top Image Systems™ (TIS™) Ltd. is a global innovator of
on-premise and cloud-based applications that
optimize content-driven business processes such
as procure to pay operations, remittance processing,
integrated receivables, customer response management and
more. Whether originating from mobile, electronic, paper
or other sources, TIS solutions automatically capture, process and
deliver content across enterprise applications, transforming
information entering an organization into useful and accessible
electronic data, delivering it directly and efficiently to the
relevant business system or person for action with as little manual
handling as possible. TIS solutions are marketed in more than 40
countries through a multi-tier network of distributors, system
integrators, value-added resellers and strategic partners. Visit
the company's website at https://www.topimagesystems.com/ for
more information.
Top Image Systems Caution Concerning Forward-Looking
Statements
Certain matters discussed in this news release are
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. Forward-looking
statements involve known and unknown risks, uncertainties and other
factors that may cause our actual results to be materially
different from any future results expressed or implied in those
forward looking statements. Words such as "will," "expects,"
"anticipates," "estimates," and words and terms of similar
substance in connection with any discussion of future operating or
financial performance identify forward-looking statements. These
statements are based on management's current expectations or
beliefs and are subject to a number of risks and uncertainties that
could cause actual results to differ materially including, but not
limited to, risks in product development, approval and introduction
plans and schedules, rapid technological change, customer
acceptance of new products, the impact of competitive products and
pricing, the lengthy sales cycle, proprietary rights of TIS and its
competitors, risk of operations in Israel,
government regulation, litigation, general economic conditions
and other risk factors detailed in the Company's most recent annual
report on Form 20-F and other subsequent filings with the United
States Securities and Exchange Commission. We are under no
obligation to, and expressly disclaim any obligation to, update or
alter our forward-looking statements, whether as a result of new
information, future events or otherwise.
Contacts: TIS Company
Contact: Camille Womack, Director of Corporate Marketing
Camille.womack@topimagesystems.com (214) 256-4600 TIS
Investors Contact: James Carbonara, Regional Vice
President, Hayden IR james@haydenir.com + 1 646 755 7412
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