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February 26, 2014updated 04 Apr 2017 2:28pm

European wealth manager invests more than US$4 million in Kofax Solution

Kofax has announced a major global wealth and asset management company headquartered in Western Europe has invested more than US$4 million in a Kofax smart process application.

By Verdict Staff

Kofax has announced a major global wealth and asset management company headquartered in Western Europe has invested more than US$4 million in a Kofax smart process application.

The company selected Kofax TotalAgility 7.0 and Kofax Analytics to capture, classify, process, act upon and analyze more than 20 million financial documents received from customers each year.

The financial services company’s existing system was outdated, inefficient and unreliable. It required a significant upgrade to a smart process application that could process new account forms and other documents in multiple languages and apply business rules in a consistent manner to ensure both internal governance and external regulatory requirements.

The company evaluated solutions from multiple providers and selected Kofax because of its smart process application development and deployment platform and track record for saving time, reducing costs, increasing efficiency and boosting productivity.

The sale was comprised of approximately US$1.25 million of software licenses and approximately US$2.75 million of maintenance, professional services and training. The transaction was closed during the quarter ended December 31 and delivered in January.

Howard Dratler, executive vice president of Field Operations at Kofax, said: "This high profile company manages a massive amount of critical financial information for its customers. It needed an all-encompassing solution to meet its processing needs while providing touchless processing and a very user-friendly interface. Kofax TotalAgility 7.0 is a new and incredibly advanced all-in-one platform that will help the company make the First Mile of business smarter and more efficient for its customers. It delivers a reliable, high performance smart process application platform that can be deployed on a worldwide basis and scale."

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