...we issue new cards faster and save costs by using Kofax TotalAgility.
Irvine, CA (PRWEB) February 07, 2017
Kofax®, a leading provider of software to simplify and transform the First Mile™ of business, and TR Process, a Kofax authorized partner in Latin America, announced that Kofax TotalAgility® has been deployed at Caruana Financeira, an innovative financial services company in Brazil, to automate a “hybrid” debit / credit card application, approval and delivery process.
The “hybrid” card can be used as a prepaid debit card for mass transit, utility and other payment purposes and as credit card for purchases of goods and services. Individuals can apply for the card at Caruana Financeira branches located in mass transit terminals in Brazil.
Kofax worked with TR Process to digitally transform the entire account opening and new customer onboarding process in only six months. The solution allows individuals to manually enter data into an electronic application form using tablet computers with touchscreens, and Caruana Financeira employees to take pictures of or scan identification documents used to initiate the credit review and approval process. The solution then automates the extraction and validation of data, verifies the authenticity of the identification documents and is integrated with a credit scoring engine that approves or denies the issuance, embossing and delivery of a new “hybrid” card.
The time to issue the “hybrid” cards was cut from three weeks to under 10 minutes realizing 80 percent cost savings and enabling immediate card delivery and usage, which results in faster and greater transaction fee revenue for Caruana Financeira.
Kofax TotalAgility automates and manages 80 percent of the entire application, approval and delivery process.
“Our goals were to make the application process completely digital and maximize our staff for acquiring new customers instead of monitoring processes,” stated Daniel Lourenson, Head of Credit Cards at Caruana Financeira. “By working with Kofax and TR Process, we issue new cards faster and save costs by using Kofax TotalAgility. We’re finding that the hybrid credit card is successful among Brazilian consumers with 60 percent having made more than one transaction in the first month and 50 percent recharging the prepaid credit card during the first month.”
“Caruana Financeira is changing the way financial service firms acquire and onboard new customers,” commented Reynolds C. Bish, Chief Executive Officer of Kofax. “By digitally transforming the entire process, Kofax TotalAgility is delivering a better customer experience and ROI for Caruana Financeira.”
Kofax is a leading provider of software to simplify and transform the First Mile™ of business. Success in the First Mile can dramatically improve the customer experience, greatly reduce operating costs and increase competitiveness, growth and profitability. Kofax software and solutions provide a rapid return on investment to more than 25,000 customers in financial services, insurance, government, healthcare, higher education, supply chain, business process outsourcing and other markets. Kofax markets its solutions via a direct sales and service organization, along with a global network of more than 1,000 authorized partners in more than 70 countries throughout the Americas, EMEA and Asia Pacific.
For further information contact Sylvia Chansler, (949) 783-1476, sylvia.chansler(at)kofax(dot)com.
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© 2017 Kofax Limited. Kofax and Kofax TotalAgility are registered trademarks and First Mile is a trademark of Kofax Limited.