Kofax to Provide Intesa Sanpaolo with a Distributed Capture
Italy's Largest Banking Group to Automate the Processing of More
Than 30 Million Documents Annually
BASINGSTOKE, England--(BUSINESS WIRE)--June 10, 2008 Kofax plc (LSE: KFX), the leading provider of Intelligent Capture & Exchange solutions, today announced that it has received an order from Intesa Sanpaolo, Italy's largest bank and one of Europe's leading financial institutions. Kofax will provide a distributed capture solution to automate the processing of more than 30 million documents annually that originate in 14 of the bank's branches in Italy. The value of the contract to Kofax is more than $600,000.
With operating headquarters in Milan and Turin, Italy, Intesa Sanpaolo has more than 7,900 branches and 18.5 million customers worldwide. As Europe's fourth largest banking entity with a market capitalization in excess of $88 billion, the organization offers retail, corporate and private banking, industrial and consumer credit, wealth management, and other financial services.
The Kofax solution will enable 14 branches to digitally capture documents, transform their content into accurate data, and then deliver the resulting information in real-time into organizational applications and repositories. Intesa Sanpaolo will use this distributed capture solution for unstructured documents with variable formats, layouts and data fields. Primarily paper-based, these documents include branch withdrawals and deposits, check deposits, payments and transfers, tax forms and records, money orders, and other documents and forms.
"Intesa Sanpaolo needed a distributed capture solution to simplify and accelerate high-volume processing by automating and unifying data originating from multiple locations on millions of paper and electronic documents and forms," said Gary Collins, Senior Vice President of Applications Software Sales - EMEA at Kofax. "Our solution will enable the group to automatically capture and classify information as it enters branches and then securely route it to the appropriate location electronically for further processing or storage. The solution improves operational speed, accuracy and efficiency while reducing labor-intensive paper-processing costs."
Intesa Sanpaolo will be implementing a full complement of Kofax software, including:
-- Kofax Capture, the world's leading information capture
software platform, which automates the scanning of paper or
importing of electronic documents and forms.
-- Kofax Transformation, which intelligently automates the
classification, sorting and separation of paper and electronic
documents and forms, and then extracts and validates the
information contained therein.
According to Intesa Sanpaolo, Kofax is transforming its existing document processing methods into a platform for information capture that is easy to use and implement. The company says that streamlining this processing through automation is enabling it to provide faster, more accurate and more efficient service to customers.
Kofax plc (LSE: KFX) is the leading provider of Intelligent Capture & Exchange solutions. For more than 20 years, Kofax has provided award-winning solutions that automate document-driven business processes by managing the 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 verifiable return on investment to thousands of customers in financial services, manufacturing, retail, government, healthcare, business process outsourcing and other markets. Kofax delivers these solutions through its own sales and service organizations, and a global network of more than 1,200 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 U.S. trademark. All other trademarks and registered trademarks belong to their respective owners.
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