Leading Financial Services Company Extends Its Kofax Enterprise Capture Solution

Software to Process 20 Million Pages Annually

IRVINE, Calif.--(BUSINESS WIRE)--Kofax plc (LSE: KFX), the leading provider of document driven business process automation solutions, today announced that a leading financial services company will extend its existing Kofax enterprise capture solution to process a significantly higher volume of forms and documents. The value of the contract to Kofax exceeds $1 million.

“Financial services companies with document driven processes such as loan origination are looking for ways to improve efficiency, drive down costs and better serve their customers”

The customer, who provides personal loans, debt consolidation loans, mortgages and other financial products and services, will implement Kofax Transformation Modules to extend its existing distributed Kofax Capture solution to help process approximately 20 million pages of forms and documents it receives annually at approximately 1,100 U.S. branches. The Kofax software will enable the company to scan, classify and extract information for accelerated processing and route the resulting digital information to a repository for easy access while increasing efficiency and reducing costs.

“Financial services companies with document driven processes such as loan origination are looking for ways to improve efficiency, drive down costs and better serve their customers,” said Alan Kerr, Executive Vice President of Field Operations at Kofax. “Kofax customers deploy our solutions across their branch offices to realize these objectives and enjoy a proven ROI in 12 to 18 months.”

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 better 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 and form classification, page separation, challenging data extraction and validation capabilities to Kofax Capture to drive robust scan-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.

About Kofax

Kofax plc (LSE: KFX) is the leading provider of document driven business process automation solutions. For more than 20 years, Kofax has provided award winning solutions that streamline the flow of information throughout an organization by managing the capture, transformation and exchange of business critical information arising in paper, fax and electronic formats in a more accurate, timely and cost effective manner. These solutions provide a rapid return on investment to thousands of customers in financial services, government, business process outsourcing, healthcare, supply chain and other markets. Kofax delivers these solutions through its own sales and service organizations, and a global network of more than 700 authorized partners in more than 60 countries throughout the Americas, EMEA and Asia Pacific. For more information, visit www.kofax.com.

“Kofax” is a registered trademark in the US, the EU and other regions. All other trademarks and registered trademarks are the property of their respective owners.