Leading U.S. Financial Services Firm Invests $2.4 Million in Kofax TotalAgility

Software Will Automate and Improve New Customer Onboarding and Loan Application Processing

IRVINE, Calif.--()--Kofax® Limited (NASDAQ: KFX), a leading provider of software to simplify and transform the First Mile™ of customer engagement, today announced that a leading financial services firm in the United States has invested more than $2.4 million in Kofax TotalAgility® to more efficiently and effectively execute its banking operations by automating manual processes and improving customer engagement.

The bank required an enterprise level dynamic case management (DCM) solution to replace a business process management (BPM) system that had been heavily customized but was at the end of its supported life. They selected Kofax TotalAgility for its ability to easily automate processes in a more agile manner and deliver business value faster, and its ability to increase customer satisfaction with new avenues of engagement, including mobile device-based new customer onboarding and loan application processes.

The bank also wanted to employ robust analytics to quickly and accurately discover, visualize and address critical issues that left unchecked would lead to operational problems or missed opportunities. All of these capabilities are included in the TotalAgility platform which will enable the bank to achieve these objectives.

"Financial institutions operate in a very competitive environment where customer relationships are more important than ever, and a customer’s ability to switch banks has never been easier," commented Howard Dratler, Executive Vice President of Field Operations at Kofax. "Kofax TotalAgility enables this bank to create a more paperless process and ultimately deliver services to its customers more simply, safely and securely."

TotalAgility provides an essential link between an organization's systems of engagement and systems of record to help increase responsiveness to customers, improve service levels and enhance business agility while greatly reducing operating costs.

The sale closed in the third quarter of Kofax’s fiscal year 2015 and included approximately $2.0 million in software license revenue and $400,000 in maintenance and professional services revenue.

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.

© 2014 Kofax Limited. Kofax and TotalAgility are registered trademarks and First Mile is a trademark of Kofax Limited.

Source: Kofax

Contacts

Kofax Limited
Media Contact:
Laura Brandlin
Director, Communications
+1 (949) 783-1545
laura.brandlin@kofax.com
or
Investor Contact:
MKR Group Inc.
Todd Kehrli
+1 (323) 468-2300
kfx@mkr-group.com

Contacts

Kofax Limited
Media Contact:
Laura Brandlin
Director, Communications
+1 (949) 783-1545
laura.brandlin@kofax.com
or
Investor Contact:
MKR Group Inc.
Todd Kehrli
+1 (323) 468-2300
kfx@mkr-group.com