A $US1.4 million mobile capture platform from Kofax is being implemented by a Top 25 global bank to simplify and streamline account openings in the Asia Pacific region.

The bank is adopting Kofax Mobile Capture, Kofax Mobile ID and Kofax Analytics for Capture for new customer onboarding.

When opening a new account, customers are currently required to manually complete an application form and provide proof of their identity in a branch office. With Kofax Mobile Capture Platform and Kofax Mobile ID, the customer can use a mobile device to capture a picture of their driver license, identification card or passport, and the software will automatically extract the relevant data and populate the application form in just seconds.

 This provides an improved experience for the customer and streamlines the onboarding process for the bank. The bank will also use Kofax Analytics for Capture to deliver visual insights into system performance, accuracy and productivity, enabling administrators to improve operational efficiency and system throughput.

“Customer onboarding is a top focus area for banks and credit unions that are looking to improve customer engagement and increased share of wallet and retention,” said Drew Hyatt, Senior Vice President of Mobile Applications at Kofax.

“This bank chose Kofax for its accuracy, flexibility, performance and breadth of capabilities, including instant capture of a driver license, passport or a government issued ID. The transaction also reflects the bank’s confidence in Kofax’s product roadmap.”

This sale closed in the third quarter of Kofax’s fiscal year 2015 and totaled $US1.4 million in software license revenue plus maintenance and approximately $US50,000 in professional services.

Lexmark International announced on March 24 a $US1 billion bid to acquire Kofax.