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Leading European Financial Institution Invests Over $300,000 in Kofax Solution

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Kofax(R) Limited (NASDAQ and LSE: KFX), a leading provider of smart process applications for the business critical First MileTM of customer interactions, today announced that a leading bank based in Europe is now using Kofax CaptureTM, Kofax Transformation ModulesTM, Kofax Web CaptureTM and Kofax Analytics for CaptureTM to transform its back-office mortgage and accounts payable processes and front-office customer facing branch processes. The Kofax solution centralizes and automates the capture of over 10 million consumer financial documents from more than 800 branch offices which were previously processed manually, with ineffective optical character recognition (OCR) products or outsourced to third party vendors.

The bank selected Kofax for its ability to deliver long term business value on its journey to improve information visibility by digitizing information for better access and compliance, and increase customer intimacy with new levels of customer engagement such as mobile new customer onboarding. Kofax was also able to elegantly integrate with the customer’s existing IBM business process management environment. The customer estimates it will reduce processing time by at least 50% in less than 24 months with Kofax.

“Financial institutions operate in a very competitive environment where relationships with customers are more important than ever,” commented Howard Dratler, Executive Vice President of Field Operations at Kofax. “Responsiveness is integral to maintaining strong relationships, and Kofax enables this bank to track, review and modify information at any point in the business process. We are helping this bank thrive in its First Mile of customer interactions.”

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 add-on applications for Kofax Capture that streamline the transformation of different document types into structured electronic information, ready for delivery into business systems and processes.

Kofax Web Capture is a comprehensive toolkit for creating powerful web-based applications with the ability to view and scan documents and images.

Kofax Analytics for Capture provides optimized out-of-the-box dashboards that elevate visibility into the effectiveness of a capture solution.

The sale, which closed during the fourth quarter of fiscal year 2014, consisted of over $250,000 in software license revenue and approximately $50,000 in maintenance fees.

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.

(c) 2014 Kofax Limited. Kofax is a registered trademark and First Mile, Kofax Capture, Kofax Transformation Modules, Kofax Web Capture and Kofax Analytics for Capture are trademarks of Kofax Limited. All other registered trademarks and trademarks are the property of their respective owners.

Source: Kofax

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