Leading Global Financial Services Firm Invests $800,000 in Kofax TotalAgility

Kofax^® Limited (NASDAQ: KFX) (LSE: KFX), a leading provider of smart process applications for the business critical First Mile™ of customer interactions, today announced that a leading global financial services firm that is one of the largest banking institutions in the United States has invested more than $800,000 in Kofax TotalAgility^® to more efficiently and effectively execute escrow functions within its investment banking operations.

By automating key processes within the firm’s escrow functions, Kofax TotalAgility will increase the speed and accuracy by which investment banking transactions are closed without the need to add staff. TotalAgility will streamline the processing of 500,000 high-value documents annually and provide a customer portal to help speed the submission and improve the accuracy of customer-provided information. This will enable the firm to process larger, more complex – and therefore more profitable – transactions, strategically positioning the bank to grow its market share. TotalAgility’s built-in integration with the customer’s Microsoft Dynamics CRM software provided added value from the customer’s perspective.

"Investment banking activities focus on very complex business transactions that include the collection of stock certificates, incorporation forms, tax and other documents. Our customer was losing business to other firms that had more fully automated processes and turned to Kofax for help,” said Howard Dratler, Executive Vice President of Field Operations at Kofax. "TotalAgility is a superior fit for these requirements and will enable the firm to increase market share by closing more deals.”

Kofax TotalAgility is the first unified smart process application development and deployment platform that includes multichannel capture, business process and case management, data integration, advanced analytics and mobility in a single platform. 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 second quarter of Kofax’s fiscal year 2015 and included approximately $380,000 in software license revenue and $425,000 in professional services and maintenance. The customer is already considering additional application of Kofax to improve other areas of business.

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