Kofax Optimizes Mortgage Processing for U.S. Lender
Kofax® plc (LSE: KFX), a leading provider of Capture Enabled BPM™ (business process management) solutions, today announced that a regional U.S. bank has invested more than $500,000 in a Kofax mortgage loan processing solution.
The customer will streamline and automate its mortgage loan processes by using the Kofax solution to capture and perfect images from more than 20 million mortgage-related documents it receives annually in both paper and electronic form. The Kofax solution will then extract critical information and trigger appropriate business processes to reduce latency, which is both costly and common in the mortgage industry. In addition, the lender can improve its regulatory compliance by providing clear audit trails from the Point of Origination™ to final archiving.
“Mortgage lenders must balance the benefits of accelerating loan approvals with managing risk,” said Howard Dratler, executive vice president of field operations at Kofax. “Kofax solutions help to dramatically reduce the time and cost to close while enhancing the customer experience.”
Kofax® plc (LSE: KFX) is a leading provider of Capture Enabled BPM™ solutions. These award winning solutions capture and streamline the flow of business critical information throughout an organization in a more accurate, timely and cost effective manner, enabling our customers to be more responsive to their constituents and better grow their businesses. Kofax solutions provide a rapid return on investment to more than 20,000 customers in banking, insurance, government, healthcare, business process outsourcing and other markets. Kofax delivers these solutions 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.
© 2012 Kofax, plc. “Kofax” is a registered trademark and “Capture Enabled BPM” is a trademark of Kofax, plc.