Australian Bank Invests Over $1 Million in Kofax Software
August 05 2014 - 3:00AM
Business Wire
Mortgage Automation Solution Speeds Application
Processing and Time to Revenue, Provides Analytics and
Visualization for Better Decision Making and Improves
Compliance
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.
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 Import
Connector and Kofax Analytics for Capture are trademarks of Kofax
Limited.
Source: Kofax
Media Contact:Kofax LimitedColleen EdwardsVice President,
Corporate
Communications+1-949-783-1582colleen.edwards@kofax.comorInvestor
Contacts:MKR Group Inc.Todd
Kehrli+1-323-468-2300kfx@mkr-group.comorFTI ConsultingSophie
McMillan+44 (0) 20 7831 3113kofax@fticonsulting.com
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