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Major Global Bank Selects Kapow Enterprise to Streamline Post-Trade Processing

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 one of the largest banking and financial services firms in the world has chosen to use Kapow Enterprise to improve its online trading platform.

The bank has been using Kofax Optitrade to process bond trades for fixed income customers. Kapow Enterprise will be used to create a straight-through post-trade process that will speed confirmation notices and reduce manual intervention and exception handling in order to increase operational efficiencies, reduce costs and mitigate risk.

“This bank’s progressive moves to implement state-of-the-art technology for automating post-trade interactions will allow them to more efficiently manage an increasingly high volume of customer transactions in less time,” said Howard Dratler, EVP of Field Operations at Kofax. “This is the goal of every innovative company that needs to ensure their resources are properly allocated to customer-facing interactions and maintaining a competitive advantage.”

The sale was comprised of approximately $190,000 in software license revenue and $100,000 in maintenance and professional services.

Kapow Enterprise is the only data integration platform to provide near real-time application integration and process automation offering both traditional API level integration capabilities as well as an innovative “Synthetic API™” approach, which provides businesses with an agile “point and click, no coding” approach.

Kofax Optitrade provides optimized trade management solutions for financial services firms. This includes financial message handling, transaction matching, reconciliation and workflow solutions. Optitrade enables brokers and investment managers to manage, monitor and measure securities and cash transactions across their businesses.

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 is a registered trademark and First Mile, Synthetic API and Kapow are trademarks of Kofax Limited.

Source: Kofax

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