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
-- 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.
Stefan Gaiser, Chief Financial Officer
Gabriele Rosenbusch, Director, Investor Relations
+44 (0) 800-6520-616
Michael Troncale, Director, Corporate Communications
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