How they describe themselves: Kofax® is a leading provider of smart capture and process automation software and solutions 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 systems of record (large, enterprise applications and repositories not easily adapted to contemporary technology). Kofax® improves the customer experience and reduces operating costs for increased competitiveness, growth, and profitability.
How they describe their product/innovation: Kofax® demonstrated how banks can enable customers’ mobile phones to capture documents in support of the onboarding and check deposit process. Customers are prompted to take a picture of a document and submit information, which is automatically extracted, validated for accuracy, and then utilized in the decision process. Kofax® demonstrated how to engage the customer via the mobile device and allow the customer the ability to interact to open a new account, apply for loans, and deposit cheques with the snap of a photo.