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Kofax has acquired a leading provider of signature verification, fraud prevention and electronic signature software and services, German-headquartered SoftPro. Many 'First Mile' interactions require signatures, and Softpro's software will help speed, simplify and instill confidence by enabling organisations to offer a fully digital, streamlined and secure experience. These electronic transaction management capabilities transform and optimise the customer experience, says Kofax, while reducing operating costs and driving increased competitiveness, growth and profitability. This differentiates Kofax's smart process applications (SPAs) from competitors who do not offer these value-added capabilities, and adds another valuable reason for organizations to choose the Company's solutions.

According to Geoffrey Moore, best-selling business author and strategist, "E-signatures remove the last barrier between a hybrid paper-to-digital workflow to an all-electronic process, dramatically accelerating closure in any type of transaction that requires a contract. E-signatures let users cruise through the workflow without stopping."

Forrester Research reports, "Electronic signatures are gaining momentum due to rapidly evolving consumer technology and the need to reduce transaction costs and the time to close business. Electronic signing is becoming simpler, more accessible, and cheaper with more tablets and touchscreen computers. The recent connection of e-signature capabilities to improving customer experience also accelerates adoption. As a result, enterprise architects should include e-signature as part of an overall enterprise content management (ECM) and business process management (BPM) strategy, making it a foundational technology along with records management, eDiscovery, and other content services used across all lines of business."

The most fraud-vulnerable financial instrument in use today is the paper cheque. The 2013 American Bankers Association Deposit Account Fraud Survey Report states that attempted fraud involving deposit accounts reached US$14.8 billion in 2012. FraudOne, Softpro's signature verification and fraud detection software, protects bank and depositor assets by verifying signatures and detecting fraud before funds can be accessed for more than 25 million checks every day.

SignDoc, Softpro's electronic signature software, offers both click-to-sign and physical signature capture via mobile and other devices, signature verification and fraud detection, is available for on premise or cloud deployments and currently processes over 200 million electronic signatures annually.

Reynolds C. Bish, Chief Executive Officer of Kofax, said: "Softpro has established itself as a trusted solution provider with many of the world's largest banks - including Citibank, JP Morgan Chase, Wells Fargo and others - as well as leading financial institutions, retailers and government agencies in more than 50 countries. Its software offers enhanced capabilities to Kofax customers who want to embed it within their smart process applications, thus making the First Mile of customer interactions even smarter."
www.kofax.com