A large Australian bank has chosen Kofax software to automate the processing of mortgage applications and ancillary documents, and to redact credit card numbers from bank statements to meet Payment Card Industry Data Security Standard (PCI DSS) requirements. 

The software includes Kofax Capture, Kofax Transformation Modules, Kofax Import Connector and Kofax Analytics for Capture.

“We worked closely with a Kofax partner to transform and automate the information intensive processes at this regional bank, which previously relied upon time consuming and expensive manual labour,” said Howard Dratler, Executive Vice President of Field Operations at Kofax. 

‘“The bank has benefited from significantly reduced labour costs, improved customer responsiveness, PCI DSS compliance, and actionable insights stemming from our analytics and visualization capabilities. This lender has truly made its First Mile smarter.”

The sale included approximately $US1 million in software license revenue and over $US200, 000 in maintenance and other services fees. It closed during the fourth quarter of Kofax’s fiscal year ended June 30, 2014.

Kofax Capture provides 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.

Kofax Transformation Modules is a set of Kofax Capture add-ons that automate the classification and data extraction of different document types, transforming them into structured electronic information, ready for delivery into business systems and processes.

Kofax Import Connector works with Kofax Capture to capture email, fax and other documents received in file shares or through web services as soon as they enter the organization.

Kofax Analytics for Capture provides optimized out-of-the-box dashboards that elevate visibility into the effectiveness of a capture solution.