Accolade Fuels Kofax’s ‘Year of the Robot’ Momentum, Validating Kapow as a Leading RPA Solution for Banking and Finance
Irvine, CA, May 2, 2018 – Kofax®, a leading supplier of software to automate and digitally transform information intensive processes, today announced that its Kapow™ Robotic Process Automation (RPA) software has won a 2018 FinTech Breakthrough Award for “Best Use of Artificial Intelligence,” one of this year’s marquee program categories. Garnering more than 3,000 nominations, the Awards honor excellence, creativity, and the success of fintech companies, technologies, and products. Entries were judged by an independent panel of senior-ranking professionals who have personally worked in a range of information security positions within the financial services space, including journalists, analysts and technology executives.
Kapow, the #originalbot, automates and digitally transforms a wide range of human and information intensive processes across front and back office operations. It allows users to deploy smart robots that mimic human actions while driving continuous improvement using artificial intelligence and machine learning technologies. These smart robots interact seamlessly with applications, aggregating data, transforming it into actionable information, triggering responses, and communicating across enterprise systems, web sites and desktop applications.
Kapow helps improve compliance and risk management by automating tasks performed manually by employees, such as those needed to comply with Know Your Customer (KYC) regulations. Intelligent software robots deliver critical data to staff in near real time for compliance reporting via dashboards, databases, Excel spreadsheets and specialty reporting applications. This eliminates delays and decreases the risk of fines and reputational damage for noncompliance. Financial organizations can also greatly reduce audit preparation efforts by using Kapow to automatically access and integrate information while ensuring all documentation is in order.
Kapow also complements new customer onboarding systems that banks already have in place — such as those used to automatically capture, extract and perfect data to make it actionable sooner — to improve new account openings and lending processes, identity verification procedures and other critical activities.
“Kapow RPA software is the ideal solution for financial institutions today. With Kapow, organizations are increasing productivity, improving decision making and delivering a better customer experience,” said Reynolds C. Bish, Chief Executive Officer of Kofax. “This FinTech Breakthrough Award recognizes the innovation Kofax brings to financial services and our win for ‘Best Use of AI’ affirms the unique value we can offer any organization trying to digitally transform its business.”
Kofax is a leading supplier of software and solutions to automate and digitally transform human and information intensive processes across front and back office operations. These can dramatically improve customer engagement, greatly reduce operating costs, mitigate compliance risk and increase competitiveness, growth and profitability. Its broad range of software and solutions can be deployed in the cloud or on premise, and include robotic process automation, business process management, multichannel capture and other critically important capabilities. These provide a rapid return on investment to over 20,000 Kofax customers in financial services, insurance, government, healthcare, supply chain, business process outsourcing and other markets. Kofax delivers its software and solutions through its direct sales and services organization and more than 650 indirect channel partners in more than 60 countries throughout the Americas, EMEA and Asia Pacific. For more information, visit kofax.com.