Top 10 Global Bank Invests Over $8 Million in an Enterprise Wide, Comprehensive Solution to Further its Digital Transformation Initiatives
Irvine, CA, January 23, 2018 – Kofax®, a leading provider of software to simplify and transform the First Mile™ of business, today announced its largest single transaction for a robotic process automation (RPA) solution. The order totaled more than $8 million from a top 10 global bank, and includes Kofax Kapow™ and Kofax TotalAgility® to provide a comprehensive Robotic Process Automation (RPA) solution.
A long-standing Kofax customer, this financial institution will blend the market-leading capabilities of Kapow and TotalAgility to significantly further its digital transformation initiatives on an enterprise-wide basis. By automating more than 2,000 labor intensive, manual legacy processes across all functional areas, the bank will improve employee productivity and foster better organizational performance.
Kofax Kapow is RPA software that allows users to deploy smart robots to mimic human actions and automate a wide range of manual, repetitive tasks while driving continuous improvements. With hundreds of thousands of Kapow robots deployed at more than 550 enterprise customers, BPO providers and shared service organizations around the world, Kapow has enabled exceptional results by driving improved operational efficiency, more rapid customer responses, better compliance and material cost savings.
Unlike competitive RPA software, Kapow's unique architecture runs all robots on a centralized server and does not require a virtual desktop infrastructure. 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 robots can be implemented without complex coding or lengthy development cycles, accelerating project deployment and increasing ROI. Kofax TotalAgility is a unified digital transformation platform that digitizes critical touchpoints across high-value customer journeys, such as new customer onboarding, and accelerates those journeys, delivers a more positive customer experience and increases customer loyalty.
The bank evaluated several leading RPA software products, choosing Kapow due to its unique ability to meet key objectives, flexible licensing model, and centralized server deployment as significant drivers to the organization’s largest Kofax investment to date. They also cited the unique potential to leverage TotalAgility's capture and case management capabilities working in tandem with Kapow.
"We’re experiencing exponential interest and growth in all things related to RPA and digital transformation," said Reynolds C. Bish, Chief Executive Officer of Kofax. "Our solutions are a natural fit for this bank’s forward thinking strategy, offering a powerful combination of capabilities that will help improve customer satisfaction while streamlining operations and exploiting new business opportunities. This is our largest single transaction for a RPA solution to date and a significant indicator of what the Year of the Robot™ has in store for Kofax and our customers.”
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.
Public Relations Director