Top 25 Global Bank Invests $1.4 Million in Kofax Mobile Capture Platform

IRVINE, Calif.--(BUSINESS WIRE)--Kofax^® Limited (NASDAQ: KFX), a leading provider of smart process applications to simplify and transform the First Mile™ of customer engagement, today announced that a top 25 global bank has invested $1.4 million in Kofax Mobile Capture™ Platform, Kofax Mobile ID™ and Kofax Analytics for Capture™. To provide a superior new customer onboarding experience, the bank will deploy the software to simplify and       streamline account openings in the Asia Pacific region.    

“This bank chose Kofax for its accuracy, flexibility, performance and breadth of capabilities, including instant capture of a driver license, passport or a government issued ID. The transaction also reflects the bank’s confidence in Kofax’s product roadmap.”

When opening a new account, customers are currently required to manually complete an application form and provide proof of their identity in a  branch office. With Kofax Mobile Capture Platform and Kofax Mobile ID,       the customer can use a mobile device to capture a picture of their driver license, identification card or passport, and the software will       automatically extract the relevant data and populate the application form in just seconds. This provides an improved experience for the customer and streamlines the onboarding process for the bank. The bank will also use Kofax Analytics for Capture to deliver visual insights into system performance, accuracy and productivity, enabling administrators to improve operational efficiency and system throughput.   

“Customer onboarding is a top focus area for banks and credit unions that are looking to improve customer engagement and increased share of wallet and retention,” said Drew Hyatt, Senior Vice President of Mobile Applications at Kofax. “This bank chose Kofax for its accuracy, flexibility, performance and breadth of capabilities, including instant capture of a driver license, passport or a government issued ID. The transaction also reflects the bank’s confidence in Kofax’s product roadmap.” 

Kofax Mobile Capture Platform enables organizations to create dynamic       mobile applications that integrate capture and process management       capabilities to streamline information intensive customer interactions and extend self-service capabilities. It turns mobile devices into information capture devices that deliver more engaging applications that “meet customers where they are” in the anywhere, anytime manner they increasingly prefer.  

With Kofax Mobile Capture Platform, organizations can improve customer       service, enhance customer experience and accelerate transactions, thereby increasing revenue and customer loyalty. Kofax Mobile Capture Platform is the only platform in the industry that enables users to create, deploy and maintain their own mobile capture solutions.    

This sale closed in the third quarter of Kofax’s fiscal year 2015 and totaled $1.4 million in software license revenue plus maintenance and       approximately $50,000 in professional services.  

About Kofax    

Kofax is a leading provider of smart process applications to simplify and transform the First Mile™ of customer engagement. Success in the First Mile can dramatically improve the customer experience, greatly reduce operating costs and increase 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, supply chain, business process outsourcing and other markets. Kofax delivers these through its direct 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.  

© 2015 Kofax Limited. Kofax is a registered trademark and First Mile, Kofax Mobile Capture Platform, Kofax Mobile ID and Kofax Analytics for Capture are trademarks of Kofax Limited.    

Source: Kofax