Irvine, CA, February 13, 2018 – Kofax®, a leading provider of software to simplify and transform the First Mile™ of business, today announced that The Bank of Tokyo-Mitsubishi UFJ, Ltd. (the bank), a commercial banking subsidiary of Mitsubishi UFJ Financial Group, Inc. (MUFG) will leverage Kofax Kapow™ and the Kofax TotalAgility® platform to automate manual tasks and achieve digital transformation.
A Kofax customer for more than five years, the bank will use Kapow and TotalAgility to replace manual legacy systems to automate more than 2,000 business processes across all functions within the bank, freeing up employees for more productive work and improving overall performance.
Kofax Kapow is a robotic process automation (RPA) platform that automates business processes using smart software robots, helping more than 550 enterprises, BPO providers and shared service organizations around the world achieve exceptional benefits in operational quality, speed and cost savings. Kapow mimics human actions to automate a wide range of manual, repetitive tasks and drive continuous improvements. Japanese language support allows robot designers, administrators, and business users to work in their native Japanese language within the Kapow platform.
Kapow's unique architecture runs all robots on a centralized server and does not require a costly virtual desktop infrastructure (VDI) like other RPA vendors. These smart robots interact seamlessly with applications, trigger responses, and communicate across enterprise systems, web sites and desktop applications. Kapow robots can be implemented without complex coding or lengthy development cycles, which speeds project deployments and increases ROI.
Kofax TotalAgility is a unified digital transformation platform that digitizes critical touchpoints across high-value customer journeys, such as onboarding new bank customers, and accelerates those journeys, delivering a more positive customer experience and increased customer loyalty.
While the bank evaluated several leading RPA vendors' products, the company cited Kofax's unique ability to meet key objectives, flexible licensing model, and centralized server deployment as significant drivers to the bank’s largest Kofax investment to date. The bank also saw great potential in TotalAgility's OCR and case management capabilities working in tandem with Kapow.
“Thanks to Kofax, we’ve experienced the broad benefits of RPA in targeted areas of our business,” said Hirofumi Aihara, General Manager Digital Transformation Division, MUFG. "We're now ready for this more comprehensive deployment that's sure to put us on the path to complete digital transformation by 2021.”
"Japan is experiencing exponential interest and growth in all things related to robotics and digital transformation," said Reynolds C. Bish, Chief Executive Officer of Kofax. "Our solutions are a natural fit for MUFG’s forward thinking strategy, offering a powerful combination of capabilities that will help the bank improve customer satisfaction, streamline operations, and exploit new business opportunities.”
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Kofax is a leading provider of software to simplify and transform the First Mile™ of business. By capturing information and automating information-intensive processes, Kofax helps improve customer engagement, greatly reduce operating costs and increase competitiveness and profitability for more than 20,000 customers in financial services, insurance, government, healthcare, supply chain and other markets. Kofax delivers its information capture, robotic process automation, financial process automation and customer onboarding solutions through its direct sales and service organization, and a global network of more than 1,000 authorized partners in more than 70 countries throughout the Americas, EMEA and Asia Pacific.
Mitsubishi UFJ Financial Group, Inc. (MUFG) is one of the world’s leading financial groups, with total assets of approximately US$2.7 trillion as of 30 September 2017. Headquartered in Tokyo and with approximately 350 years of history, MUFG has a global network with over 2,000 offices across more than 50 countries. The Group has about 150,000 employees and about 300 entities, offering services including commercial banking, trust banking, securities, credit cards, consumer finance, asset management, and leasing. The Group’s operating companies include Bank of Tokyo-Mitsubishi UFJ, Mitsubishi UFJ Trust and Banking Corporation (Japan’s leading trust bank), and Mitsubishi UFJ Securities Holdings Co., Ltd., one of Japan’s largest securities firms. MUFG’s shares are traded on the Tokyo, Nagoya, and New York (NYSE: MTU) stock exchanges. For more information, visit www.mufg.jp/english.
February 13, 2018