ABBC will implement Kofax software to capture and extract data from more than 20 million checks and related multi page financial documents received annually at over 300 Sicredi branch locations and export the resulting data and images into ABBC, Sicredi and Brazil Central Bank repositories.
Kofax said the system provides a check truncation solution that reduces the time and costly manual labor needed for paper based processing. As a result, Sicredi will reduce operating costs, accelerate business processes and improve data quality, leading to better cash management and customer service as well as improved compliance with banking and regulatory requirements.
Alan Kerr, EVP of field operations at Kofax, said: “Banks and other financial services companies with high volume, document centric tasks such as check processing are looking for solutions to improve efficiency and drive down business costs. Our solutions convert labor intensive, paper based processes into automated systems that increase productivity, generate a fast ROI and enable customers to focus their resources on better serving customers.”
