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Financial services firms continue to choose Kofax to support information management initiatives, as recent orders from multiple new customers now exceed $1 million in revenue.

“Banks and financial services firms recognize the measurable ROI automation provides by reducing the costs, delays and risks associated with manual processes,” said Alan Kerr, executive vice president of field operations at Kofax, in a statement.

Kofax is a leading provider of Capture Enabled BPM (business process management) solutions.

“As a result, we see both new and existing Kofax banking customers looking to capture solutions to handle customer correspondence, invoice processing, mortgage processing and new account openings,” said Kerr.

Officials with Kofax, while giving examples of recent banking solution orders, said that a leading builder of manufactured and modular homes and commercial and educational buildings and provider of financing and insurance products for its customers will expand its Kofax Capture solution to include Kofax Transformation Modules and Kofax Communication Server to automate the processing of approximately 20 million mortgage loan documents and insurance applications it receives annually. The value of the contract to Kofax exceeds $500,000.

Similarly, a bank servicing several branches of the U.S. military will expand its Kofax Capture solution to include Kofax Transformation Modules and Kofax Monitor to capture and process approximately 40 million invoices, credit statements, member correspondence, membership forms and accounts payable documents it receives annually. The value of the contract to Kofax exceeds $200,000.

Besides this, a leading financial advisory firm and provider of asset management and financial planning services will expand its existing Kofax solution and implement Kofax Capture, Kofax Monitor and Kofax VRS to automate the processing of approximately 20 million brokerage documents and customer correspondence it receives annually. The value of the contract to Kofax exceeds $290,000.