Prepress

Global Bank Leverages Kofax Solution to Improve Customer Satisfaction in Europe

Wednesday 12. September 2012 - Software to Accelerate the Processing of 20 Million Documents Annually

Kofax plc (LSE: KFX), a leading provider of Capture Enabled BPM (business process management) solutions, today announced that a major global bank has invested an additional $800,000 to implement a Kofax digital mailroom solution for its European operations.
The bank will implement Kofax CaptureTM, Kofax Transformation ModulesTM, Kofax VirtualReScan Elite, Kofax Front Office ServerTM and Kofax MonitorTM to capture 20 million paper and electronic documents in a centralized digital mailroom. Relevant information from those documents will then be automatically classified, extracted and distributed into workflows that initiate critical business processes throughout European operations. With this solution, the customer can reduce operational costs, increase processing speed, and be much more responsive to its customers.
“In today’s world, consumers desire instant gratification, and it’s very easy for consumers and businesses to change banks if they aren’t receiving the level of service they expect,” said Howard Dratler, vice president of field operations for Kofax. “A Kofax digital mailroom helps financial institutions capture incoming information more efficiently and accelerate the processing of new accounts, loans and other customer driven financial transactions, thus accelerating responses to customers and improving service levels.”
Kofax Capture (KC) 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 (KTM) 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.
Kofax VirtualReScan (VRS) Elite is Kofax’s patented image enhancement and perfection software. Kofax VRS Elite reduces the time involved in manual document preparation and enhances the quality of scanned images, dramatically improving both manual scanning productivity and the efficiency of document capture processes. High quality images are critical as they can significantly impact the success of downstream data extraction and retrieval needs.
Kofax Front Office Server (KFS) extends existing Kofax Capture business processes to customer facing employees seeking to initiate transactions, workflows and capture processes at the earliest point of contact to leverage existing resources in remote or branch offices. This office automation solution reduces process latency and eliminates the time and cost of shipping documents to centralized processing centers.
Kofax Monitor provides real time monitoring and performance capabilities to ensure the operational health of Kofax Capture, and advanced recognition and communication systems. It monitors the system’s components, including scanners supporting Kofax VRS, and its business service viability, providing real time access to operational information so immediate corrective action is taken.