Kofax plc, a leading provider of smart process applications for the business critical First Mile™ of customer interactions, today announced that a major global bank in Europe has increased its investment in Kofax software by $2.3 million to process more than 350 million documents per year. The expansion will dramatically reduce the amount of paper processed by the bank.
The increased investment includes Kofax Capture™, Kofax Transformation Modules™ and Kofax Mobile Capture™ to process forms, documents, trailing documents, and checks.
Kofax's software enables the bank to automate capture processes at the Point of OriginationTM in branches and customer facing interactions instead of forwarding them to a central scanning facility.
It improves processing speed and efficiency, enabling bank employees to focus more time on customer service and other critical tasks. In an effort to make its First Mile of business smarter, the bank will implement Kofax Mobile Capture to enable remote deposit capture and the capture of trailing documents, offering customers greater convenience.
"Financial services is a very competitive industry, with many customers frustrated by slow processes or errors that are difficult to correct," said Howard Dratler, Executive Vice President of Field Operations at Kofax. "Kofax's cutting edge solutions ensure that our customers can process transactions fast, keep costs low, and make their clients happy."
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 classification, page separation, data extraction and validation capabilities to Kofax Capture to drive robust capture-to-process applications. By automating what were previously labor intensive, error prone and time consuming tasks, Kofax Transformation Modules can significantly reduce labor costs, improve information quality and accelerate business processes.